Q4 2018 Earnings Estimate for Globus Medical Inc Issued By William Blair (GMED)

Globus Medical Inc (NYSE:GMED) – Stock analysts at William Blair boosted their Q4 2018 earnings estimates for Globus Medical in a research report issued on Tuesday, according to Zacks Investment Research. William Blair analyst K. Krum now forecasts that the medical device company will post earnings of $0.39 per share for the quarter, up from their prior forecast of $0.37.

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

A number of other brokerages have also weighed in on GMED. Wells Fargo & Co reaffirmed an “outperform” rating and set a $51.00 target price (up from $46.00) on shares of Globus Medical in a research report on Wednesday, January 10th. Barclays reaffirmed a “sell” rating and set a $36.00 target price on shares of Globus Medical in a research report on Wednesday, January 10th. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a research report on Tuesday, January 2nd. Finally, BTIG Research set a $45.00 target price on Globus Medical and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $40.57.

Globus Medical (GMED) opened at $45.64 on Friday. Globus Medical has a 12-month low of $25.85 and a 12-month high of $47.09. The firm has a market capitalization of $4,398.60, a P/E ratio of 41.49, a PEG ratio of 2.67 and a beta of 0.48.

Several institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Globus Medical by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock valued at $349,000 after purchasing an additional 31 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Globus Medical by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after purchasing an additional 35 shares during the last quarter. Advisor Group Inc. increased its position in shares of Globus Medical by 2.0% during the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after purchasing an additional 68 shares during the last quarter. 1st Global Advisors Inc. increased its position in shares of Globus Medical by 1.2% during the 2nd quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock valued at $375,000 after purchasing an additional 130 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of Globus Medical by 2.8% during the 2nd quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock valued at $197,000 after purchasing an additional 161 shares during the last quarter. 70.03% of the stock is owned by hedge funds and other institutional investors.

In related news, CAO Steven Payne sold 3,076 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $937,187.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David D. Davidar sold 55,383 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 752,236 shares of the company’s stock, valued at $30,585,915.76. The disclosure for this sale can be found here. Insiders sold a total of 124,908 shares of company stock valued at $4,747,975 over the last three months. 28.21% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION NOTICE: “Q4 2018 Earnings Estimate for Globus Medical Inc Issued By William Blair (GMED)” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/04/q4-2018-earnings-forecast-for-globus-medical-inc-gmed-issued-by-william-blair.html.

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.

Get a free copy of the Zacks research report on Globus Medical (GMED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply