Analysts Expect Globus Medical Inc (NYSE:GMED) Will Post Earnings of $0.52 Per Share

Equities research analysts expect Globus Medical Inc (NYSE:GMED) to announce earnings per share (EPS) of $0.52 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Globus Medical’s earnings. The lowest EPS estimate is $0.50 and the highest is $0.53. Globus Medical reported earnings of $0.43 per share during the same quarter last year, which indicates a positive year over year growth rate of 20.9%. The business is scheduled to issue its next earnings report 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 fiscal year, with EPS estimates ranging from $1.69 to $1.72. For the next year, analysts expect that the company 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 sell-side research analysts that that provide coverage for Globus Medical.

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

A number of research firms recently issued reports on GMED. Zacks Investment Research upgraded shares of Globus Medical from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and set a $63.00 target price on shares of Globus Medical in a research report on Thursday, November 7th. BTIG Research restated a “hold” rating on shares of Globus Medical in a report on Thursday, November 7th. Cantor Fitzgerald upped their price target on shares of Globus Medical from $55.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $56.29.

Shares of Globus Medical stock traded up $0.20 on Friday, reaching $57.09. The stock had a trading volume of 24,773 shares, compared to its average volume of 577,593. The business’s 50-day moving average price is $53.65 and its two-hundred day moving average price is $47.90. The stock has a market cap of $5.66 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 2.90 and a beta of 0.96. Globus Medical has a fifty-two week low of $38.01 and a fifty-two week high of $57.11.

In related news, Director David D. Davidar sold 38,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 owns 666,775 shares in the company, valued at $36,005,850. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kelly Huller sold 3,000 shares of Globus Medical stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $52.90, for a total value of $158,700.00. Following the sale, the senior vice president now directly owns 6,384 shares in the company, valued at $337,713.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,000 shares of company stock worth $2,378,400. 24.97% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Gabelli Funds LLC grew its holdings in Globus Medical by 0.5% during the 2nd quarter. Gabelli Funds LLC now owns 213,000 shares of the medical device company’s stock worth $9,010,000 after acquiring an additional 1,000 shares during the last quarter. Northern Trust Corp grew its holdings in Globus Medical by 0.5% during the 2nd quarter. Northern Trust Corp now owns 1,221,143 shares of the medical device company’s stock worth $51,655,000 after acquiring an additional 6,180 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Globus Medical by 20.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,489 shares of the medical device company’s stock valued at $317,000 after acquiring an additional 1,256 shares during the last quarter. Isthmus Partners LLC bought a new stake in shares of Globus Medical during the 2nd quarter valued at $1,211,000. Finally, Millennium Management LLC lifted its stake in shares of Globus Medical by 22.9% in the 3rd quarter. Millennium Management LLC now owns 316,430 shares of the medical device company’s stock valued at $16,175,000 after purchasing an additional 58,930 shares during the period. Hedge funds and other institutional investors own 67.46% of the company’s stock.

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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