$0.40 Earnings Per Share Expected for Globus Medical Inc (GMED) This Quarter

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Wall Street analysts expect Globus Medical Inc (NYSE:GMED) to report earnings of $0.40 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Globus Medical’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.38. Globus Medical posted earnings of $0.38 per share in the same quarter last year, which would suggest a positive year over year growth rate of 5.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 20th.

On average, analysts expect that Globus Medical will report full-year earnings of $1.62 per share for the current year, with EPS estimates ranging from $1.62 to $1.63. For the next fiscal year, analysts forecast that the company will report earnings of $1.76 per share, with EPS estimates ranging from $1.72 to $1.79. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Globus Medical.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, November 8th. The medical device company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.06. The company had revenue of $169.20 million for the quarter, compared to the consensus estimate of $167.47 million. Globus Medical had a return on equity of 15.36% and a net margin of 20.79%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS.

Several analysts recently issued reports on the company. Zacks Investment Research raised Globus Medical from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, November 13th. Leerink Swann raised their price target on Globus Medical from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, November 9th. ValuEngine cut Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 28th. Cantor Fitzgerald set a $65.00 price target on Globus Medical and gave the company a “buy” rating in a report on Tuesday, November 13th. Finally, Piper Jaffray Companies raised their price target on Globus Medical to $62.00 and gave the company an “overweight” rating in a report on Friday, November 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $55.92.

In other news, insider David C. Paul sold 2,053,330 shares of Globus Medical stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $54.26, for a total value of $111,413,685.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 28.44% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Globus Medical by 14.9% during the 2nd quarter. BlackRock Inc. now owns 9,201,726 shares of the medical device company’s stock worth $464,318,000 after acquiring an additional 1,190,681 shares during the last quarter. FMR LLC bought a new stake in shares of Globus Medical during the 2nd quarter worth approximately $46,806,000. Marshall Wace LLP bought a new stake in shares of Globus Medical during the 3rd quarter worth approximately $48,854,000. Renaissance Technologies LLC lifted its stake in shares of Globus Medical by 69.7% during the 2nd quarter. Renaissance Technologies LLC now owns 854,900 shares of the medical device company’s stock worth $43,138,000 after acquiring an additional 351,100 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Globus Medical by 140.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 486,900 shares of the medical device company’s stock worth $24,569,000 after acquiring an additional 284,600 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

Shares of GMED opened at $45.79 on Wednesday. The company has a market cap of $4.67 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64. Globus Medical has a 12-month low of $38.01 and a 12-month high of $57.83.

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 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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