Q3 2019 EPS Estimates for Globus Medical Inc (NYSE:GMED) Decreased by Svb Leerink

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Globus Medical Inc (NYSE:GMED) – Research analysts at Svb Leerink cut their Q3 2019 earnings per share (EPS) estimates for Globus Medical in a research note issued on Wednesday, July 10th. Svb Leerink analyst R. Newitter now expects that the medical device company will post earnings of $0.44 per share for the quarter, down from their previous forecast of $0.45.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, May 2nd. The medical device company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). Globus Medical had a net margin of 20.81% and a return on equity of 14.09%. The company had revenue of $182.90 million during the quarter, compared to analysts’ expectations of $186.59 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year.

GMED has been the topic of several other reports. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Needham & Company LLC reiterated a “buy” rating and set a $200.00 target price (up from $140.00) on shares of Universal Display in a research report on Friday, May 3rd. Morgan Stanley reiterated a “top pick” rating on shares of in a research report on Wednesday, June 5th. Wells Fargo & Co reduced their target price on DXC Technology from $72.00 to $55.00 and set a “market perform” rating on the stock in a research report on Friday, May 24th. Finally, Oppenheimer set a $13.00 target price on Alpine Immune Sciences and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $54.50.

Shares of NYSE:GMED opened at $41.35 on Friday. Globus Medical has a 52-week low of $38.01 and a 52-week high of $57.83. The firm has a fifty day moving average of $41.05. The stock has a market capitalization of $4.09 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.12 and a beta of 0.90.

Large investors have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. increased its stake in Globus Medical by 60.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,426 shares of the medical device company’s stock worth $235,000 after acquiring an additional 2,044 shares during the last quarter. THB Asset Management acquired a new stake in Globus Medical during the first quarter worth about $215,000. American International Group Inc. increased its stake in Globus Medical by 2.8% during the fourth quarter. American International Group Inc. now owns 201,448 shares of the medical device company’s stock worth $8,719,000 after acquiring an additional 5,555 shares during the last quarter. Barclays PLC increased its stake in Globus Medical by 42.3% during the fourth quarter. Barclays PLC now owns 96,290 shares of the medical device company’s stock worth $4,167,000 after acquiring an additional 28,631 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Globus Medical by 21.1% during the fourth quarter. California Public Employees Retirement System now owns 108,873 shares of the medical device company’s stock worth $4,712,000 after acquiring an additional 18,970 shares during the last quarter. Institutional investors own 66.40% of the company’s stock.

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 a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

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

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