Globus Medical Inc (GMED) Expected to Announce Earnings of $0.42 Per Share

Share on StockTwits

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.

Several equities research analysts recently weighed in on GMED shares. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective (down previously from $57.00) on shares of Globus Medical in a report on Friday, May 3rd. Zacks Investment Research raised Globus Medical from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Wednesday, April 24th. Oppenheimer reissued a “hold” rating on shares of Globus Medical in a report on Tuesday, March 19th. ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $60.00 price objective on shares of Globus Medical in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Globus Medical presently has a consensus rating of “Buy” and an average price target of $56.30.

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.

Recommended Story: Consumer Price Index (CPI)

Get a free copy of the Zacks research report on Globus Medical (GMED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Globus Medical (NYSE:GMED)

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

AT&T Inc.  Receives $36.43 Consensus PT from Brokerages
AT&T Inc. Receives $36.43 Consensus PT from Brokerages
S&P Global Inc  Declares $0.57 Quarterly Dividend
S&P Global Inc Declares $0.57 Quarterly Dividend
Zacks: Analysts Anticipate Liquidity Services, Inc.  to Post -$0.07 Earnings Per Share
Zacks: Analysts Anticipate Liquidity Services, Inc. to Post -$0.07 Earnings Per Share
Brokerages Set Blue Apron Holdings Inc  PT at $25.22
Brokerages Set Blue Apron Holdings Inc PT at $25.22
Johnson Matthey PLC  Receives GBX 3,860 Consensus Target Price from Analysts
Johnson Matthey PLC Receives GBX 3,860 Consensus Target Price from Analysts
Orion Group Holdings Inc  Expected to Post Earnings of -$0.11 Per Share
Orion Group Holdings Inc Expected to Post Earnings of -$0.11 Per Share


© 2006-2019 Ticker Report