William Blair Analysts Increase Earnings Estimates for Globus Medical Inc (GMED)

Globus Medical Inc (NYSE:GMED) – Research analysts at William Blair boosted their FY2017 earnings estimates for Globus Medical in a research report issued to clients and investors on Tuesday. William Blair analyst K. Krum now anticipates that the medical device company will earn $1.30 per share for the year, up from their previous estimate of $1.27. William Blair also issued estimates for Globus Medical’s Q4 2017 earnings at $0.36 EPS, Q1 2018 earnings at $0.37 EPS, Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.36 EPS and FY2018 earnings at $1.50 EPS.

Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.30. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The business had revenue of $151.74 million during the quarter, compared to the consensus estimate of $150.73 million. During the same period last year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis.

A number of other analysts also recently issued reports on the company. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating in a research report on Wednesday. Barclays reiterated a “sell” rating and issued a $36.00 price target on shares of Globus Medical in a research report on Wednesday. Wells Fargo & Co reiterated an “outperform” rating and issued a $51.00 price target (up from $46.00) on shares of Globus Medical in a research report on Wednesday. BTIG Research set a $45.00 price target on Globus Medical and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Finally, Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $40.57.

Shares of Globus Medical (GMED) opened at $43.66 on Thursday. Globus Medical has a 52-week low of $25.67 and a 52-week high of $46.51. The stock has a market capitalization of $4,230.91, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 2.93 and a beta of 0.56.

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its stake in Globus Medical by 1.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after buying an additional 35 shares during the period. Sei Investments Co. boosted its stake in Globus Medical by 18.9% during the second quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after buying an additional 503 shares during the period. Advisor Group Inc. boosted its stake in Globus Medical by 2.0% during the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after buying an additional 68 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Globus Medical during the third quarter valued at $177,000. Finally, Victory Capital Management Inc. boosted its stake in Globus Medical by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock valued at $179,000 after buying an additional 808 shares during the period. 70.23% of the stock is owned by institutional investors.

In other news, CAO Steven Payne sold 3,076 shares of Globus Medical stock in a transaction on Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,847 shares in the company, valued at $937,187.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider A Brett Murphy sold 51,449 shares of Globus Medical stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the completion of the transaction, the insider now owns 49,768 shares of the company’s stock, valued at $1,741,880. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,908 shares of company stock valued at $4,747,975. 28.21% of the stock is owned by company insiders.

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Globus Medical Company Profile

Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.

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