Globus Medical (NYSE:GMED) Updates FY19 Earnings Guidance

Globus Medical (NYSE:GMED) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $1.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.72. The company issued revenue guidance of $770-775 million, compared to the consensus revenue estimate of $768.63 million.Globus Medical also updated its FY 2019 guidance to $1.72-1.72 EPS.

Several equities research analysts recently commented on GMED shares. Zacks Investment Research raised shares of Globus Medical from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research report on Wednesday, April 24th. Wells Fargo & Co cut shares of Globus Medical from an outperform rating to a market perform rating and cut their price objective for the company from $50.00 to $41.00 in a research report on Friday, May 24th. Morgan Stanley set a $45.00 price objective on shares of Globus Medical and gave the company a hold rating in a research report on Wednesday, June 5th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $56.00 price objective (up from $52.00) on shares of Globus Medical in a research report on Friday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $54.90.

GMED traded up $3.71 during trading on Friday, hitting $50.10. The company had a trading volume of 3,179,893 shares, compared to its average volume of 575,149. The stock has a market capitalization of $4.59 billion, a P/E ratio of 30.00, a PEG ratio of 2.37 and a beta of 0.89. Globus Medical has a one year low of $38.01 and a one year high of $57.83. The stock has a 50-day moving average of $42.48.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, August 1st. The medical device company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $150.55 million for the quarter, compared to analysts’ expectations of $184.93 million. Globus Medical had a net margin of 19.30% and a return on equity of 13.57%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. As a group, research analysts predict that Globus Medical will post 1.72 EPS for the current year.

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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