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

Analysts predict that Globus Medical Inc (NYSE:GMED) will post $0.52 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Globus Medical’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.53. Globus Medical posted earnings per share of $0.43 in the same quarter last year, which would indicate a positive year over year growth rate of 20.9%. The company is scheduled to issue its next quarterly earnings results after the market closes on Thursday, February 20th.

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 fiscal year, analysts forecast that the business will report earnings of $1.88 per share, with EPS estimates ranging from $1.82 to $1.94. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Globus Medical.

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

A number of brokerages have commented on GMED. BTIG Research reaffirmed a “hold” rating on shares of Globus Medical in a research note on Thursday, November 7th. UBS Group lifted their price target on Globus Medical from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $63.00 price target on shares of Globus Medical in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $64.00 price target on shares of Globus Medical in a research note on Thursday, January 9th. Finally, ValuEngine cut Globus Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Globus Medical currently has a consensus rating of “Buy” and a consensus price target of $64.00.

In other news, Director David D. Davidar sold 38,000 shares of the business’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 transaction of $2,052,000.00. Following the transaction, the director now directly owns 666,775 shares of the company’s stock, valued at $36,005,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kelly Huller sold 6,460 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $58.90, for a total value of $380,494.00. Following the transaction, the senior vice president now directly owns 3,076 shares in the company, valued at $181,176.40. The disclosure for this sale can be found here. Insiders have sold 50,460 shares of company stock worth $2,758,894 over the last three months. Insiders own 24.97% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Savior LLC purchased a new position in shares of Globus Medical during the fourth quarter valued at approximately $27,000. Exchange Traded Concepts LLC purchased a new position in shares of Globus Medical during the fourth quarter valued at approximately $51,000. Quest Capital Management Inc. ADV purchased a new position in shares of Globus Medical during the third quarter valued at approximately $45,000. Point72 Hong Kong Ltd purchased a new position in shares of Globus Medical during the second quarter valued at approximately $72,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Globus Medical by 948.3% during the third quarter. Meeder Asset Management Inc. now owns 2,715 shares of the medical device company’s stock valued at $140,000 after buying an additional 2,456 shares during the period. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical stock traded up $0.16 during trading hours on Monday, reaching $52.82. The company had a trading volume of 502,448 shares, compared to its average volume of 575,784. The company has a 50-day moving average price of $56.51 and a 200 day moving average price of $51.99. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 36.43, a P/E/G ratio of 2.68 and a beta of 0.96. Globus Medical has a 12-month low of $38.37 and a 12-month high of $60.15.

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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