Globus Medical (NYSE:GMED) Issues FY 2019 Earnings Guidance

Globus Medical (NYSE:GMED) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $1.72-1.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.72. The company issued revenue guidance of $770-775 million, compared to the consensus revenue estimate of $768.66 million.Globus Medical also updated its FY19 guidance to $1.75 EPS.

NYSE:GMED traded up $3.71 during trading hours on Friday, reaching $50.10. The company had a trading volume of 3,179,893 shares, compared to its average volume of 530,458. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 2.33 and a beta of 0.89. The stock has a 50-day moving average price of $42.48. Globus Medical has a twelve month low of $38.01 and a twelve month high of $57.83.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, August 1st. The medical device company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $150.55 million during the quarter, compared to analysts’ expectations of $184.93 million. Globus Medical had a net margin of 20.81% and a return on equity of 14.09%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company posted $0.44 earnings per share. As a group, research analysts predict that Globus Medical will post 1.72 EPS for the current fiscal year.

GMED has been the subject of a number of research reports. Morgan Stanley set a $45.00 price target on shares of Globus Medical and gave the stock a hold rating in a report on Wednesday, June 5th. Needham & Company LLC restated a buy rating and issued a $56.00 price target (up from $52.00) on shares of Globus Medical in a report on Friday. Wells Fargo & Co cut shares of Globus Medical from an outperform rating to a market perform rating and reduced their price target for the stock from $50.00 to $41.00 in a report on Friday, May 24th. Finally, Zacks Investment Research upgraded shares of Globus Medical from a hold rating to a buy rating and set a $51.00 price target for the company in a report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $54.90.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

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Earnings History and Estimates for Globus Medical (NYSE:GMED)

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