bLong Financial LLC Invests $397,000 in Globus Medical, Inc. (NYSE:GMED)

bLong Financial LLC acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,800 shares of the medical device company’s stock, valued at approximately $397,000.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Globus Medical during the 3rd quarter worth about $27,000. Quarry LP grew its holdings in Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after acquiring an additional 433 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after acquiring an additional 385 shares during the last quarter. UMB Bank n.a. grew its holdings in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after acquiring an additional 206 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Globus Medical by 41.7% during the 4th quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company’s stock worth $104,000 after acquiring an additional 370 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of Globus Medical 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

GMED stock opened at $83.99 on Friday. The company has a fifty day moving average price of $86.65 and a two-hundred day moving average price of $78.56. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 125.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19.

Analyst Ratings Changes

Several brokerages have recently issued reports on GMED. Canaccord Genuity Group raised their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. BTIG Research raised their target price on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Thursday, February 6th. Finally, Royal Bank of Canada raised their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.91.

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.