Choreo LLC Raises Stake in Globus Medical, Inc. (NYSE:GMED)

Choreo LLC boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,284 shares of the medical device company’s stock after purchasing an additional 716 shares during the quarter. Choreo LLC’s holdings in Globus Medical were worth $768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coldstream Capital Management Inc. grew its stake in shares of Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after buying an additional 131 shares during the last quarter. Stephens Inc. AR boosted its holdings in Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after acquiring an additional 138 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after acquiring an additional 140 shares during the last quarter. Berry Wealth Group LP increased its holdings in shares of Globus Medical by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after acquiring an additional 164 shares in the last quarter. Finally, Mather Group LLC. raised its position in shares of Globus Medical by 16.3% in the 4th quarter. Mather Group LLC. now owns 1,356 shares of the medical device company’s stock worth $112,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Thursday. BTIG Research raised their price target on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada upped their price objective on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their target price on Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Stock Performance

Globus Medical stock opened at $87.60 on Monday. The stock has a market cap of $11.93 billion, a PE ratio of 130.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The stock has a fifty day moving average of $86.56 and a 200 day moving average of $78.16. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93.

Insider Activity

In other news, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

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.