Analysts Anticipate Globus Medical Inc (GMED) to Announce $0.41 EPS

Brokerages expect that Globus Medical Inc (NYSE:GMED) will announce earnings of $0.41 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Globus Medical’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.40. Globus Medical also reported earnings per share of $0.41 in the same quarter last year. The firm is expected to announce its next quarterly earnings results after the market closes on Thursday, May 2nd.

According to Zacks, analysts expect that Globus Medical will report full-year earnings of $1.71 per share for the current year, with EPS estimates ranging from $1.66 to $1.73. For the next year, analysts anticipate that the firm will report earnings of $1.90 per share, with EPS estimates ranging from $1.80 to $2.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Globus Medical.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, February 21st. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Globus Medical had a net margin of 21.95% and a return on equity of 15.22%. The business had revenue of $195.94 million during the quarter, compared to analysts’ expectations of $195.50 million.

Several equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. ValuEngine lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Oppenheimer restated a “hold” rating on shares of Globus Medical in a report on Tuesday, March 19th. UBS Group upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Thursday, February 28th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $65.00 price objective on shares of Globus Medical in a report on Wednesday, January 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Globus Medical presently has an average rating of “Hold” and a consensus price target of $58.30.

In other Globus Medical news, President Anthony L. Williams sold 212,082 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.83, for a total transaction of $9,931,800.06. Following the sale, the president now directly owns 89,583 shares in the company, valued at approximately $4,195,171.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Kelly Huller sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $48.59, for a total transaction of $145,770.00. Following the sale, the senior vice president now owns 12,384 shares in the company, valued at $601,738.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 426,852 shares of company stock worth $20,061,774. 28.44% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Globus Medical by 0.6% during the 4th quarter. BlackRock Inc. now owns 9,513,779 shares of the medical device company’s stock worth $411,756,000 after buying an additional 57,503 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Globus Medical by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,735,494 shares of the medical device company’s stock valued at $382,306,000 after purchasing an additional 219,780 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Globus Medical by 3.4% in the 3rd quarter. Vanguard Group Inc now owns 6,735,494 shares of the medical device company’s stock valued at $382,306,000 after purchasing an additional 219,780 shares in the last quarter. Investec Asset Management LTD acquired a new stake in shares of Globus Medical in the 4th quarter valued at $64,761,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Globus Medical by 4,284.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,250,619 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 1,222,096 shares in the last quarter. Institutional investors own 69.26% of the company’s stock.

Globus Medical stock opened at $44.02 on Monday. Globus Medical has a 1-year low of $38.01 and a 1-year high of $57.83. The company has a market capitalization of $4.34 billion, a PE ratio of 26.36, a PEG ratio of 2.26 and a beta of 0.86.

About Globus Medical

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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