Globus Medical Inc (NYSE:GMED) Expected to Announce Quarterly Sales of $210.11 Million

Wall Street analysts forecast that Globus Medical Inc (NYSE:GMED) will report $210.11 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Globus Medical’s earnings. The highest sales estimate is $211.00 million and the lowest is $209.09 million. Globus Medical posted sales of $195.94 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.2%. The firm is expected to issue its next earnings results after the market closes on Thursday, February 20th.

According to Zacks, analysts expect that Globus Medical will report full year sales of $784.70 million for the current year. For the next financial year, analysts forecast that the business will report sales of $852.50 million, with estimates ranging from $850.00 million to $856.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Globus Medical.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Wednesday, November 6th. The medical device company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $196.22 million during the quarter, compared to the consensus estimate of $185.86 million. Globus Medical had a return on equity of 13.09% and a net margin of 19.03%. Globus Medical’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share.

A number of research analysts recently commented on the company. Morgan Stanley downgraded Globus Medical from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $63.00 price target on shares of Globus Medical in a research note on Thursday, November 7th. UBS Group boosted their price target on Globus Medical from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, BTIG Research reaffirmed a “hold” rating on shares of Globus Medical in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $64.00.

In other Globus Medical news, Director David D. Davidar sold 38,000 shares of Globus Medical stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.00, for a total value of $2,052,000.00. Following the transaction, the director now owns 666,775 shares in the company, valued at $36,005,850. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kelly Huller sold 6,460 shares of Globus Medical stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $58.90, for a total value of $380,494.00. Following the completion of the transaction, the senior vice president now owns 3,076 shares in the company, valued at approximately $181,176.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,460 shares of company stock worth $2,758,894. Company insiders own 24.97% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Dupont Capital Management Corp grew its holdings in shares of Globus Medical by 35.9% during the fourth quarter. Dupont Capital Management Corp now owns 54,200 shares of the medical device company’s stock worth $3,191,000 after purchasing an additional 14,310 shares during the last quarter. Toth Financial Advisory Corp grew its holdings in shares of Globus Medical by 83.9% during the fourth quarter. Toth Financial Advisory Corp now owns 11,180 shares of the medical device company’s stock worth $658,000 after purchasing an additional 5,100 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Globus Medical by 15.8% during the fourth quarter. New York State Teachers Retirement System now owns 38,800 shares of the medical device company’s stock worth $2,285,000 after purchasing an additional 5,300 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Globus Medical by 2.3% during the fourth quarter. State of Michigan Retirement System now owns 22,700 shares of the medical device company’s stock worth $1,337,000 after purchasing an additional 500 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Globus Medical by 27.8% during the fourth quarter. Strs Ohio now owns 29,000 shares of the medical device company’s stock worth $1,707,000 after purchasing an additional 6,300 shares during the last quarter. Institutional investors own 67.48% of the company’s stock.

GMED stock traded up $0.16 during midday trading on Wednesday, reaching $52.82. The company had a trading volume of 502,448 shares, compared to its average volume of 575,784. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96. The stock has a 50 day moving average price of $56.51 and a 200-day moving average price of $51.99. Globus Medical has a 1-year low of $38.37 and a 1-year high of $60.15.

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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