Globus Medical Inc (GMED) Expected to Post Earnings of $0.36 Per Share

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.

GMED has been the subject of several recent research reports. ValuEngine raised Globus Medical from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research raised Globus Medical from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Monday, February 26th. BTIG Research set a $45.00 target price on Globus Medical and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Morgan Stanley set a $53.00 target price on Globus Medical and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $53.00 target price on shares of Globus Medical in a research note on Monday, March 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $51.56.

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.

COPYRIGHT VIOLATION WARNING: “Globus Medical Inc (GMED) Expected to Post Earnings of $0.36 Per Share” was first reported by Week Herald and is owned by of Week Herald. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://weekherald.com/2018/04/22/globus-medical-inc-gmed-expected-to-post-earnings-of-0-36-per-share-2.html.

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.

Get a free copy of the Zacks research report on Globus Medical (GMED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Globus Medical (NYSE:GMED)

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply