Wall Street brokerages expect Globus Medical Inc (NYSE:GMED) to announce $0.42 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Globus Medical’s earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.40. Globus Medical reported earnings of $0.44 per share during the same quarter last year, which would indicate a negative year over year growth rate of 4.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, August 7th.
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 $1.69 to $1.72. For the next year, analysts expect that the firm will report earnings of $1.90 per share, with EPS estimates ranging from $1.84 to $1.98. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Globus Medical.
Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, May 2nd. The medical device company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). Globus Medical had a net margin of 20.81% and a return on equity of 14.09%. The business had revenue of $182.90 million during the quarter, compared to the consensus estimate of $186.59 million. During the same quarter in the previous year, the business posted $0.41 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis.
In other Globus Medical news, President Anthony L. Williams sold 212,082 shares of Globus Medical stock in a transaction dated 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 transaction, the president now directly owns 89,583 shares of the company’s stock, valued at approximately $4,195,171.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kelly Huller sold 3,000 shares of Globus Medical stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $48.59, for a total value of $145,770.00. Following the transaction, the senior vice president now directly owns 12,384 shares in the company, valued at $601,738.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 426,852 shares of company stock worth $20,061,774. 24.97% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in Globus Medical in the 3rd quarter worth approximately $247,000. Nordea Investment Management AB lifted its holdings in Globus Medical by 154.7% in the 3rd quarter. Nordea Investment Management AB now owns 206,254 shares of the medical device company’s stock worth $11,707,000 after purchasing an additional 125,274 shares during the last quarter. Vanguard Group Inc lifted its holdings in 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 worth $382,306,000 after purchasing an additional 219,780 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Globus Medical in the 4th quarter worth approximately $524,000. Finally, Navellier & Associates Inc acquired a new stake in Globus Medical in the 4th quarter worth approximately $3,560,000. 68.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GMED traded down $0.29 during midday trading on Wednesday, hitting $41.41. The company’s stock had a trading volume of 4,530 shares, compared to its average volume of 638,864. Globus Medical has a one year low of $38.01 and a one year high of $57.83. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.18 and a beta of 0.79.
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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