Wall Street analysts predict that Globus Medical Inc (NYSE:GMED) will post earnings per share of $0.36 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Globus Medical’s earnings, with estimates ranging from $0.35 to $0.37. Globus Medical reported earnings of $0.32 per share in the same quarter last year, which would suggest a positive year over year growth rate of 12.5%. The company is expected to report its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Globus Medical will report full-year earnings of $1.48 per share for the current year, with EPS estimates ranging from $1.34 to $1.51. For the next fiscal year, analysts expect that the firm will post earnings of $1.69 per share, with EPS estimates ranging from $1.65 to $1.81. 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 posted its earnings results on Wednesday, February 21st. The medical device company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $176.03 million during the quarter, compared to the consensus estimate of $175.50 million. Globus Medical had a return on equity of 13.93% and a net margin of 16.88%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share.
Globus Medical stock traded up $0.03 during trading hours on Thursday, hitting $50.66. The stock had a trading volume of 332,785 shares, compared to its average volume of 596,397. The company has a market capitalization of $4,879.52, a PE ratio of 38.67, a P/E/G ratio of 2.80 and a beta of 0.42. Globus Medical has a one year low of $27.79 and a one year high of $52.18.
In other news, VP Daniel T. Scavilla sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $50.00, for a total value of $5,000,000.00. Following the transaction, the vice president now owns 18,210 shares in the company, valued at $910,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric Schwartz sold 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $50.00, for a total value of $1,200,000.00. Following the completion of the transaction, the vice president now owns 24,000 shares in the company, valued at approximately $1,200,000. The disclosure for this sale can be found here. Company insiders own 28.21% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in Globus Medical by 18.6% during the third quarter. Janus Henderson Group PLC now owns 3,181,499 shares of the medical device company’s stock worth $94,554,000 after acquiring an additional 498,187 shares during the period. Point72 Asset Management L.P. bought a new stake in Globus Medical during the third quarter worth $13,187,000. NWQ Investment Management Company LLC lifted its holdings in Globus Medical by 43.1% during the fourth quarter. NWQ Investment Management Company LLC now owns 1,245,219 shares of the medical device company’s stock worth $51,179,000 after acquiring an additional 375,234 shares during the period. Pembroke Management LTD bought a new stake in Globus Medical during the fourth quarter worth $9,720,000. Finally, Redmile Group LLC bought a new stake in Globus Medical during the fourth quarter worth $8,573,000. Institutional investors own 65.92% of the company’s stock.
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About Globus Medical
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 an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.
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