Jennison Associates LLC boosted its holdings in shares of Globus Medical Inc (NYSE:GMED) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,038 shares of the medical device company’s stock after buying an additional 1,900 shares during the period. Jennison Associates LLC’s holdings in Globus Medical were worth $947,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GMED. Janus Henderson Group PLC raised its holdings in shares of Globus Medical by 260.0% in the second quarter. Janus Henderson Group PLC now owns 2,683,312 shares of the medical device company’s stock valued at $88,952,000 after purchasing an additional 1,938,039 shares during the last quarter. NWQ Investment Management Company LLC bought a new position in Globus Medical during the third quarter valued at about $25,856,000. American Century Companies Inc. bought a new position in Globus Medical during the third quarter valued at about $24,126,000. Nuance Investments LLC grew its position in Globus Medical by 207.5% during the third quarter. Nuance Investments LLC now owns 776,919 shares of the medical device company’s stock valued at $23,090,000 after buying an additional 524,248 shares during the period. Finally, Koch Industries Inc. boosted its position in Globus Medical by 3,950.6% during the second quarter. Koch Industries Inc. now owns 479,431 shares of the medical device company’s stock worth $465,000 after purchasing an additional 467,595 shares during the period. Hedge funds and other institutional investors own 69.67% of the company’s stock.
In other Globus Medical news, Director David D. Davidar sold 55,383 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $40.66, for a total value of $2,251,872.78. Following the completion of the transaction, the director now owns 752,236 shares of the company’s stock, valued at approximately $30,585,915.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Steven Payne sold 3,076 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,847 shares of the company’s stock, valued at approximately $937,187.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,459 shares of company stock worth $2,947,260. 28.21% of the stock is currently owned by company insiders.
Shares of Globus Medical Inc (GMED) opened at $44.05 on Monday. The firm has a market cap of $4,245.36, a price-to-earnings ratio of 40.05, a P/E/G ratio of 2.58 and a beta of 0.48. Globus Medical Inc has a fifty-two week low of $26.53 and a fifty-two week high of $47.09.
A number of brokerages have weighed in on GMED. Barclays reiterated a “sell” rating and set a $36.00 target price on shares of Globus Medical in a research report on Wednesday, January 10th. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Wells Fargo & Co reissued an “outperform” rating and issued a $51.00 price target (up from $46.00) on shares of Globus Medical in a report on Wednesday, January 10th. BTIG Research reissued a “buy” rating and issued a $37.00 price target on shares of Globus Medical in a report on Thursday, November 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Globus Medical has an average rating of “Buy” and a consensus price target of $40.57.
About Globus Medical
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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