Globus Medical Inc (GMED) Expected to Post Earnings of $0.41 Per Share

Wall Street analysts expect that Globus Medical Inc (NYSE:GMED) will announce earnings per share (EPS) of $0.41 for the current quarter, according to Zacks. Three analysts have issued estimates for Globus Medical’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.39. Globus Medical also posted earnings of $0.41 per share during the same quarter last year. The company is expected to announce its next quarterly earnings results on Wednesday, May 1st.

On average, analysts expect that Globus Medical will report full-year earnings of $1.72 per share for the current year, with EPS estimates ranging from $1.71 to $1.73. For the next financial year, analysts expect that the company will post earnings of $1.90 per share, with EPS estimates ranging from $1.76 to $2.00. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Globus Medical.

Globus Medical (NYSE:GMED) last announced 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 firm had revenue of $195.94 million for the quarter, compared to analysts’ expectations of $195.50 million.

A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Oppenheimer reaffirmed a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 19th. Credit Suisse Group assumed coverage on shares of Globus Medical in a research report on Monday, December 17th. They issued an “outperform” rating and a $53.00 target price on the stock. ValuEngine cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, UBS Group raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, four have issued 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 target price of $56.36.

NYSE GMED traded down $0.03 during trading hours on Friday, reaching $47.68. The company had a trading volume of 9,115 shares, compared to its average volume of 585,666. Globus Medical has a 1-year low of $38.01 and a 1-year high of $57.83. The stock has a market capitalization of $4.71 billion, a P/E ratio of 28.40, a PEG ratio of 2.42 and a beta of 0.86.

In related news, President Anthony L. Williams sold 165,870 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $47.05, for a total transaction of $7,804,183.50. Following the sale, the president now directly owns 89,583 shares in the company, valued at $4,214,880.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anthony L. Williams sold 212,082 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.83, for a total transaction of $9,931,800.06. Following the sale, the president now owns 89,583 shares in the company, valued at $4,195,171.89. The disclosure for this sale can be found here. Insiders have sold 426,852 shares of company stock worth $20,061,774 in the last three months. Corporate insiders own 28.44% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GMED. PRW Wealth Management LLC purchased a new position in Globus Medical in the fourth quarter valued at approximately $31,000. Ffcm LLC purchased a new position in Globus Medical in the fourth quarter valued at approximately $36,000. Huntington National Bank purchased a new position in Globus Medical in the fourth quarter valued at approximately $38,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Globus Medical in the fourth quarter valued at approximately $117,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Globus Medical by 18.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the medical device company’s stock valued at $138,000 after purchasing an additional 567 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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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