Pittenger & Anderson Inc. Invests $200,000 in Globus Medical, Inc. (NYSE:GMED)

Pittenger & Anderson Inc. acquired a new position in Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,415 shares of the medical device company’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GMED. AlphaCentric Advisors LLC bought a new stake in shares of Globus Medical during the 4th quarter valued at $2,000,000. bLong Financial LLC purchased a new position in shares of Globus Medical in the 4th quarter worth $397,000. New York State Teachers Retirement System increased its stake in Globus Medical by 12.3% during the fourth quarter. New York State Teachers Retirement System now owns 87,116 shares of the medical device company’s stock worth $7,205,000 after acquiring an additional 9,539 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 197 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Globus Medical by 1.0% in the fourth quarter. Louisiana State Employees Retirement System now owns 31,600 shares of the medical device company’s stock valued at $2,614,000 after acquiring an additional 300 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. 18.54% of the stock is currently owned by insiders.

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $83.99 on Tuesday. The firm has a 50-day simple moving average of $86.65 and a two-hundred day simple moving average of $78.66. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The company has a market cap of $11.44 billion, a P/E ratio of 125.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group increased their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. BTIG Research upped their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Truist Financial raised their price target on shares of Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus price target 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.