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.
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