Shelton Capital Management Takes $223,000 Position in Globus Medical Inc (GMED)

Shelton Capital Management purchased a new stake in shares of Globus Medical Inc (NYSE:GMED) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,432 shares of the medical device company’s stock, valued at approximately $223,000.

Several other large investors have also recently bought and sold shares of the company. NWQ Investment Management Company LLC purchased a new stake in Globus Medical in the third quarter worth approximately $25,856,000. American Century Companies Inc. purchased a new stake in Globus Medical in the third quarter worth approximately $24,126,000. Nuance Investments LLC boosted its holdings in Globus Medical by 207.5% in the third quarter. Nuance Investments LLC now owns 776,919 shares of the medical device company’s stock worth $23,090,000 after purchasing an additional 524,248 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Globus Medical by 18.6% in the third quarter. Janus Henderson Group PLC now owns 3,181,499 shares of the medical device company’s stock worth $94,554,000 after purchasing an additional 498,187 shares during the last quarter. Finally, Koch Industries Inc. boosted its holdings in Globus Medical by 3,950.6% in 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 last quarter. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Globus Medical Inc (NYSE:GMED) opened at $44.05 on Monday. Globus Medical Inc has a 52-week low of $26.53 and a 52-week high of $47.09. The firm has a market cap of $4,245.36, a P/E ratio of 40.05, a price-to-earnings-growth ratio of 2.58 and a beta of 0.48.

In other Globus Medical news, Director David D. Davidar sold 55,383 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.66, for a total value of $2,251,872.78. Following the transaction, the director now directly owns 752,236 shares in the company, valued at $30,585,915.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Steven Payne sold 3,076 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $39.30, for a total transaction of $120,886.80. Following the completion of the transaction, the chief accounting officer now owns 23,847 shares in the company, valued at $937,187.10. The disclosure for this sale can be found here. Insiders sold 73,459 shares of company stock worth $2,947,260 over the last quarter. Insiders own 28.21% of the company’s stock.

GMED has been the topic of several research reports. Barclays dropped their target price on shares of Globus Medical from $28.00 to $27.00 and set an “underweight” rating on the stock in a report on Thursday, October 19th. ValuEngine cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research cut shares of Globus Medical from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Globus Medical in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Globus Medical has an average rating of “Buy” and an average target price of $40.57.

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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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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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