Brokerages Anticipate Globus Medical Inc (NYSE:GMED) Will Announce Earnings of $0.52 Per Share

Wall Street analysts expect Globus Medical Inc (NYSE:GMED) to report $0.52 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Globus Medical’s earnings, with estimates ranging from $0.50 to $0.53. Globus Medical reported earnings of $0.43 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.9%. The firm is expected to issue its next earnings results on Thursday, February 20th.

According to Zacks, analysts expect that Globus Medical will report full year earnings of $1.72 per share for the current financial year, with EPS estimates ranging from $1.69 to $1.72. For the next year, analysts forecast that the business will post earnings of $1.91 per share, with EPS estimates ranging from $1.82 to $1.96. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Globus Medical.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Wednesday, November 6th. The medical device company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $196.22 million during the quarter, compared to analyst estimates of $185.86 million. Globus Medical had a net margin of 19.03% and a return on equity of 13.09%. Globus Medical’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share.

A number of equities analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $63.00 target price on shares of Globus Medical in a research note on Thursday, November 7th. Wells Fargo & Co lifted their price target on Globus Medical from $42.00 to $53.00 and gave the company a “market perform” rating in a research report on Tuesday, October 8th. ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Zacks Investment Research raised Globus Medical from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Monday, November 11th. Finally, Cantor Fitzgerald upped their price objective on shares of Globus Medical from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Globus Medical currently has a consensus rating of “Buy” and a consensus price target of $56.29.

In related news, SVP Kelly Huller sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $52.90, for a total value of $158,700.00. Following the completion of the sale, the senior vice president now owns 6,384 shares in the company, valued at approximately $337,713.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David D. Davidar sold 38,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $54.00, for a total value of $2,052,000.00. Following the completion of the sale, the director now directly owns 666,775 shares of the company’s stock, valued at approximately $36,005,850. The disclosure for this sale can be found here. Insiders sold 44,000 shares of company stock valued at $2,378,400 over the last quarter. 24.97% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the business. Financial Gravity Wealth Inc. purchased a new stake in shares of Globus Medical in the 2nd quarter valued at $25,000. Steward Partners Investment Advisory LLC bought a new stake in Globus Medical in the second quarter worth $26,000. Advisory Services Network LLC boosted its position in Globus Medical by 620.0% during the second quarter. Advisory Services Network LLC now owns 792 shares of the medical device company’s stock valued at $34,000 after buying an additional 682 shares during the period. Quest Capital Management Inc. ADV purchased a new stake in Globus Medical during the third quarter valued at about $45,000. Finally, Oakworth Capital Inc. bought a new position in shares of Globus Medical during the second quarter valued at about $38,000. 67.63% of the stock is currently owned by hedge funds and other institutional investors.

NYSE GMED opened at $57.18 on Friday. The company’s 50 day simple moving average is $53.79 and its two-hundred day simple moving average is $47.98. Globus Medical has a 1 year low of $38.01 and a 1 year high of $57.22. The stock has a market capitalization of $5.68 billion, a PE ratio of 34.24, a P/E/G ratio of 2.96 and a beta of 0.96.

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.

Featured Article: Penny Stocks, Risk and Reward Factors

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

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

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.