This morning we watched Globus Medical drop -7.8% to a price of $67.32 per share. The Mid-Cap Medical Instruments & Supplies company is now trading -14.95% below its average target price of $79.15. Analysts have set target prices ranging from $55.0 to $100.0 per share for Globus Medical, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 4.8%, and a short ratio of 6.21. Only 0.77% of the company's shares are owned by insiders, indicating that management does not have a deep alignment of interest with its shareholders. Finally, we also note that a significant number of institutional investors are invested in the stock, with 102.0% of Globus Medical's shares being owned by this investor type.
Institutions Invested in Globus Medical
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Vanguard Group Inc | 8% | 10,954,681 | $737,469,121 |
| 2024-03-31 | Blackrock Inc. | 8% | 10,883,358 | $732,667,657 |
| 2024-03-31 | Janus Henderson Group PLC | 6% | 7,662,395 | $515,832,429 |
| 2024-03-31 | State Street Corporation | 3% | 3,577,616 | $240,845,108 |
| 2024-03-31 | Wellington Management Group, LLP | 2% | 3,249,808 | $218,777,073 |
| 2024-06-30 | JP Morgan Chase & Company | 2% | 2,635,851 | $177,445,488 |
| 2024-06-30 | Bank Of New York Mellon Corporation | 2% | 2,613,624 | $175,949,166 |
| 2024-06-30 | Burgundy Asset Management Ltd. | 2% | 2,514,891 | $169,302,461 |
| 2024-03-31 | Champlain Investment Partners, LLC | 2% | 2,504,383 | $168,595,062 |
| 2024-03-31 | Camber Capital Management LP | 2% | 2,500,000 | $168,299,999 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Globus Medical.
