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.
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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