Analysts Anticipate Globus Medical Inc (NYSE:GMED) to Post $0.43 Earnings Per Share

Equities research analysts expect Globus Medical Inc (NYSE:GMED) to report earnings of $0.43 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Globus Medical’s earnings, with estimates ranging from $0.42 to $0.44. Globus Medical posted earnings per share of $0.39 during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.3%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, November 6th.

According to Zacks, analysts expect that Globus Medical will report full-year earnings of $1.71 per share for the current financial year, with EPS estimates ranging from $1.69 to $1.72. For the next year, analysts expect that the business will report earnings of $1.90 per share, with EPS estimates ranging from $1.86 to $1.93. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Globus Medical.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, August 1st. The medical device company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Globus Medical had a net margin of 19.30% and a return on equity of 13.29%. The company had revenue of $150.55 million for the quarter, compared to the consensus estimate of $184.93 million. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis.

Several research analysts recently commented on GMED shares. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating and set a $54.00 target price on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $56.00 target price (up from $52.00) on shares of Globus Medical in a research note on Friday, August 2nd. Wells Fargo & Co lifted their target price on shares of Globus Medical from $42.00 to $53.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 8th. Finally, ValuEngine raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.40.

Shares of NYSE GMED remained flat at $$51.40 during mid-day trading on Monday. 366,441 shares of the company traded hands, compared to its average volume of 583,608. Globus Medical has a 12 month low of $38.01 and a 12 month high of $57.83. The business’s 50-day moving average price is $50.65 and its 200 day moving average price is $45.98. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 30.78, a P/E/G ratio of 2.65 and a beta of 0.97.

In other news, Director David D. Davidar sold 50,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.33, for a total value of $2,466,500.00. Following the sale, the director now directly owns 754,775 shares of the company’s stock, valued at approximately $37,233,050.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kelly Huller sold 3,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $49.90, for a total transaction of $149,700.00. Following the completion of the sale, the senior vice president now directly owns 9,384 shares in the company, valued at $468,261.60. The disclosure for this sale can be found here. 24.97% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in GMED. Janus Henderson Group PLC boosted its stake in Globus Medical by 83.1% in the 2nd quarter. Janus Henderson Group PLC now owns 6,179,600 shares of the medical device company’s stock worth $261,397,000 after purchasing an additional 2,803,797 shares in the last quarter. Nuance Investments LLC boosted its stake in Globus Medical by 307.4% in the 2nd quarter. Nuance Investments LLC now owns 1,316,057 shares of the medical device company’s stock worth $55,669,000 after purchasing an additional 993,056 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Globus Medical in the 2nd quarter worth about $29,363,000. Pembroke Management LTD bought a new position in Globus Medical in the 2nd quarter worth about $13,495,000. Finally, Invesco Ltd. boosted its stake in Globus Medical by 73.1% in the 2nd quarter. Invesco Ltd. now owns 627,072 shares of the medical device company’s stock worth $26,526,000 after purchasing an additional 264,790 shares in the last quarter. 67.86% of the stock is currently owned by hedge funds and other institutional investors.

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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