Lightrock Netherlands B.V. Takes $8.47 Million Position in Globus Medical, Inc. (NYSE:GMED)

Lightrock Netherlands B.V. bought a new stake in shares of Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 101,844 shares of the medical device company’s stock, valued at approximately $8,465,000. Globus Medical makes up 3.0% of Lightrock Netherlands B.V.’s holdings, making the stock its 15th biggest position.

A number of other hedge funds have also recently bought and sold shares of GMED. State Street Corp lifted its position in shares of Globus Medical by 2.3% during the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after acquiring an additional 81,371 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Globus Medical by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock valued at $134,893,000 after purchasing an additional 21,935 shares during the last quarter. Geneva Capital Management LLC boosted its position in shares of Globus Medical by 1.1% in the 3rd quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock valued at $114,330,000 after purchasing an additional 18,117 shares during the period. Parsifal Capital Management LP increased its stake in Globus Medical by 50.5% in the 3rd quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after purchasing an additional 453,053 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Globus Medical by 29.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock worth $88,610,000 after buying an additional 285,172 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Down 0.2 %

GMED stock opened at $87.41 on Tuesday. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 130.46, a P/E/G ratio of 1.68 and a beta of 1.19. The firm has a 50 day moving average of $86.56 and a two-hundred day moving average of $78.20. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93.

Insider Buying and Selling

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction on 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 this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of the firm’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 disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GMED. Canaccord Genuity Group lifted their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Piper Sandler boosted their target price on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Truist Financial raised their target price on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Globus Medical has a consensus rating of “Moderate Buy” and an average target price of $96.91.

Globus Medical Company Profile

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.