Brokerages Expect Globus Medical Inc (GMED) Will Post Quarterly Sales of $175.50 Million

Equities research analysts expect that Globus Medical Inc (NYSE:GMED) will post $175.50 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Globus Medical’s earnings. Globus Medical reported sales of $151.59 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.8%. The business is scheduled to announce its next earnings report on Monday, February 26th.

On average, analysts expect that Globus Medical will report full-year sales of $175.50 million for the current financial year, with estimates ranging from $623.36 million to $635.40 million. For the next financial year, analysts anticipate that the company will post sales of $689.98 million per share, with estimates ranging from $689.60 million to $690.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Globus Medical.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The business had revenue of $151.74 million during the quarter, compared to analysts’ expectations of $150.73 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. Globus Medical’s revenue was up 11.9% compared to the same quarter last year.

Several equities research analysts recently weighed in on GMED shares. BidaskClub raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating in a research report on Friday, November 10th. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, BTIG Research reissued a “buy” rating and issued a $37.00 target price on shares of Globus Medical in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $40.57.

In other news, CAO Steven Payne sold 3,076 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the transaction, the chief accounting officer now owns 23,847 shares of the company’s stock, valued at $937,187.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David D. Davidar sold 55,383 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.66, for a total value of $2,251,872.78. Following the completion of the transaction, the director now directly owns 752,236 shares of the company’s stock, valued at approximately $30,585,915.76. The disclosure for this sale can be found here. Insiders sold 73,459 shares of company stock valued at $2,947,260 in the last three months. Company insiders own 28.21% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in GMED. Teachers Advisors LLC increased its stake in shares of Globus Medical by 7.1% in the second quarter. Teachers Advisors LLC now owns 127,885 shares of the medical device company’s stock valued at $4,239,000 after buying an additional 8,487 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Globus Medical by 0.7% in the second quarter. TIAA CREF Investment Management LLC now owns 191,251 shares of the medical device company’s stock valued at $6,340,000 after buying an additional 1,322 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Globus Medical by 43.7% in the second quarter. Ameriprise Financial Inc. now owns 336,243 shares of the medical device company’s stock valued at $11,243,000 after buying an additional 102,280 shares during the period. Amalgamated Bank increased its stake in shares of Globus Medical by 5.3% in the second quarter. Amalgamated Bank now owns 10,162 shares of the medical device company’s stock valued at $337,000 after buying an additional 511 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Globus Medical by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after buying an additional 35 shares during the period. 70.28% of the stock is owned by institutional investors.

Globus Medical (NYSE GMED) traded down $1.30 on Monday, reaching $43.30. 656,714 shares of the company traded hands, compared to its average volume of 706,712. Globus Medical has a 1-year low of $26.42 and a 1-year high of $47.09. The company has a market capitalization of $4,302.23, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.61 and a beta of 0.48.

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Globus Medical Company Profile

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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