Piper Jaffray Companies Weighs in on Globus Medical Inc’s Q4 2019 Earnings (NYSE:GMED)

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Globus Medical Inc (NYSE:GMED) – Equities researchers at Piper Jaffray Companies raised their Q4 2019 EPS estimates for Globus Medical in a report released on Wednesday, November 6th. Piper Jaffray Companies analyst M. O’brien now anticipates that the medical device company will post earnings of $0.53 per share for the quarter, up from their prior estimate of $0.51. Piper Jaffray Companies currently has a “Overweight” rating and a $65.00 target price on the stock. Piper Jaffray Companies also issued estimates for Globus Medical’s Q1 2021 earnings at $0.50 EPS, Q2 2021 earnings at $0.56 EPS and Q3 2021 earnings at $0.52 EPS.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Wednesday, November 6th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Globus Medical had a return on equity of 13.29% and a net margin of 19.30%. The firm had revenue of $196.22 million during the quarter, compared to analyst estimates of $185.86 million. During the same period last year, the company posted $0.39 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis.

GMED has been the subject of a number of other research reports. Wells Fargo & Co lifted their target price on shares of Globus Medical from $42.00 to $53.00 and gave the company a “market perform” rating in a research note on Tuesday, October 8th. Canaccord Genuity lifted their target price on shares of Globus Medical from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday. ValuEngine upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Needham & Company LLC reiterated a “buy” rating and issued a $63.00 target price on shares of Globus Medical in a research note on Thursday. Finally, BTIG Research reiterated a “hold” rating on shares of Globus Medical in a research note on Thursday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $58.22.

Shares of NYSE:GMED opened at $55.72 on Friday. Globus Medical has a one year low of $38.01 and a one year high of $56.34. The stock has a fifty day moving average of $51.06 and a 200-day moving average of $46.42. The company has a market capitalization of $5.24 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95.

A number of hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund raised its position in shares of Globus Medical by 0.4% in the third quarter. Texas Permanent School Fund now owns 52,169 shares of the medical device company’s stock valued at $2,667,000 after purchasing an additional 215 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in shares of Globus Medical by 1.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,080 shares of the medical device company’s stock worth $596,000 after buying an additional 220 shares during the last quarter. Oakbrook Investments LLC increased its holdings in shares of Globus Medical by 5.9% during the 2nd quarter. Oakbrook Investments LLC now owns 5,400 shares of the medical device company’s stock worth $228,000 after buying an additional 300 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Globus Medical by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 30,789 shares of the medical device company’s stock worth $1,302,000 after buying an additional 435 shares during the last quarter. Finally, Conservest Capital Advisors Inc. increased its holdings in shares of Globus Medical by 4.3% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 12,169 shares of the medical device company’s stock worth $515,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 68.00% of the company’s stock.

In related news, SVP Kelly Huller sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $52.90, for a total value of $158,700.00. Following the completion of the transaction, the senior vice president now owns 6,384 shares in the company, valued at approximately $337,713.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David D. Davidar sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.33, for a total transaction of $2,466,500.00. Following the completion of the transaction, the director now owns 754,775 shares of the company’s stock, valued at approximately $37,233,050.75. The disclosure for this sale can be found here. Insiders own 24.97% of the company’s stock.

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 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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