Analysts expect that Globus Medical, Inc. (NYSE:GMED) will report earnings of $0.30 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Globus Medical’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.28. Globus Medical posted earnings of $0.29 per share in the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The firm is expected to announce its next earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that Globus Medical will report full year earnings of $1.28 per share for the current financial year, with EPS estimates ranging from $1.27 to $1.30. For the next year, analysts expect that the company will post earnings of $1.40 per share, with EPS estimates ranging from $1.37 to $1.43. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Globus Medical.
Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Wednesday, May 3rd. The medical device company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $155.81 million for the quarter. Globus Medical had a net margin of 18.09% and a return on equity of 14.15%.
Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Leerink Swann raised shares of Globus Medical from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 12th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Globus Medical in a research report on Thursday, May 18th. Canaccord Genuity raised shares of Globus Medical from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $37.00 in a research report on Thursday, May 4th. Finally, BidaskClub downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $28.89.
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Shares of Globus Medical (NYSE:GMED) traded down 0.12% during mid-day trading on Friday, hitting $32.34. 249,176 shares of the stock were exchanged. The stock’s 50 day moving average price is $32.08 and its 200-day moving average price is $28.83. The stock has a market capitalization of $3.11 billion, a P/E ratio of 29.67 and a beta of 0.62. Globus Medical has a 12-month low of $19.25 and a 12-month high of $34.03.
In other Globus Medical news, President Anthony L. Williams sold 16,153 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $31.94, for a total transaction of $515,926.82. Following the transaction, the president now directly owns 16,153 shares in the company, valued at approximately $515,926.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 28.21% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in GMED. BlackRock Inc. boosted its stake in Globus Medical by 22,983.1% in the first quarter. BlackRock Inc. now owns 7,387,282 shares of the medical device company’s stock worth $218,812,000 after buying an additional 7,355,279 shares during the last quarter. State Street Corp boosted its stake in Globus Medical by 73.8% in the fourth quarter. State Street Corp now owns 2,169,124 shares of the medical device company’s stock worth $53,813,000 after buying an additional 920,880 shares during the last quarter. Norges Bank acquired a new stake in Globus Medical during the fourth quarter worth approximately $18,321,000. FMR LLC acquired a new stake in Globus Medical during the fourth quarter worth approximately $11,909,000. Finally, Blue Jay Capital Management LLC acquired a new stake in Globus Medical during the first quarter worth approximately $11,848,000. Institutional investors own 68.91% of the company’s stock.
About Globus Medical
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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