FY2017 EPS Estimates for Globus Medical Inc (GMED) Boosted by Leerink Swann

Globus Medical Inc (NYSE:GMED) – Investment analysts at Leerink Swann upped their FY2017 earnings per share estimates for shares of Globus Medical in a research note issued on Thursday, according to Zacks Investment Research. Leerink Swann analyst R. Newitter now anticipates that the medical device company will post earnings per share of $1.29 for the year, up from their previous estimate of $1.27. Leerink Swann also issued estimates for Globus Medical’s Q4 2017 earnings at $0.36 EPS, Q1 2018 earnings at $0.36 EPS, Q2 2018 earnings at $0.37 EPS and Q3 2018 earnings at $0.37 EPS.

Other analysts have also issued reports about the company. ValuEngine raised Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. BTIG Research reissued a “buy” rating and set a $37.00 price target on shares of Globus Medical in a research note on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating on shares of Globus Medical in a research note on Thursday, October 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Globus Medical in a research note on Thursday, November 9th. Finally, BidaskClub raised Globus Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. 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 company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $40.57.

Shares of Globus Medical (NYSE GMED) opened at $43.50 on Monday. Globus Medical has a 12 month low of $25.67 and a 12 month high of $46.51. The company has a market capitalization of $4,192.36, a PE ratio of 39.55, a PEG ratio of 2.64 and a beta of 0.56.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.30. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The firm had revenue of $151.74 million for the quarter, compared to analyst estimates of $150.73 million. During the same period last year, the firm posted $0.29 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis.

In other Globus Medical news, CAO Steven Payne sold 3,076 shares of Globus Medical stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the sale, the chief accounting officer now directly owns 23,847 shares in the company, valued at $937,187.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anthony L. Williams sold 15,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $38.30, for a total value of $574,500.00. Following the completion of the sale, the president now owns 15,000 shares of the company’s stock, valued at $574,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,908 shares of company stock worth $4,747,975. 28.21% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its holdings in Globus Medical by 12.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 390,522 shares of the medical device company’s stock worth $16,051,000 after purchasing an additional 43,747 shares in the last quarter. Marathon Asset Management LLP increased its holdings in Globus Medical by 1.6% in the fourth quarter. Marathon Asset Management LLP now owns 771,826 shares of the medical device company’s stock worth $31,722,000 after purchasing an additional 12,126 shares in the last quarter. Thomson Horstmann & Bryant Inc. bought a new stake in Globus Medical in the fourth quarter worth approximately $480,000. RK Asset Management LLC increased its holdings in Globus Medical by 3.9% in the fourth quarter. RK Asset Management LLC now owns 109,946 shares of the medical device company’s stock worth $4,519,000 after purchasing an additional 4,135 shares in the last quarter. Finally, Atlantic Trust Group LLC bought a new stake in Globus Medical in the third quarter worth approximately $1,110,000. Institutional investors and hedge funds own 70.28% of the company’s stock.

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Globus Medical Company Profile

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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