Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 217.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,472 shares of the medical device company's stock after buying an additional 39,390 shares during the quarter. Teacher Retirement System of Texas' holdings in Globus Medical were worth $4,754,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. lifted its position in Globus Medical by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company's stock valued at $447,000 after acquiring an additional 131 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock worth $55,000 after purchasing an additional 132 shares in the last quarter. US Bancorp DE boosted its position in shares of Globus Medical by 3.2% in the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock worth $356,000 after purchasing an additional 135 shares in the last quarter. Berry Wealth Group LP grew its stake in Globus Medical by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock worth $282,000 after buying an additional 164 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Globus Medical by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company's stock valued at $288,000 after buying an additional 175 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.54% of the stock is currently owned by insiders.

Globus Medical Trading Down 0.9 %

GMED traded down $0.69 during trading on Thursday, hitting $73.66. The company's stock had a trading volume of 899,778 shares, compared to its average volume of 999,013. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 98.22, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The business's fifty day simple moving average is $82.84 and its 200 day simple moving average is $79.88.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. The company had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. As a group, equities research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. BTIG Research upped their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. StockNews.com lowered Globus Medical from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Morgan Stanley raised Globus Medical from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Finally, Barclays increased their price target on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.09.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.