$0.46 Earnings Per Share Expected for Globus Medical, Inc. (NYSE:GMED) This Quarter

Equities research analysts predict that Globus Medical, Inc. (NYSE:GMEDGet Rating) will post $0.46 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Globus Medical’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.47. Globus Medical posted earnings per share of $0.49 in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.1%. The company is expected to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Globus Medical will report full year earnings of $2.10 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.11. For the next financial year, analysts forecast that the business will report earnings of $2.40 per share, with EPS estimates ranging from $2.29 to $2.49. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for Globus Medical.

Globus Medical (NYSE:GMEDGet Rating) last announced its quarterly earnings results on Thursday, February 17th. The medical device company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $250.02 million for the quarter, compared to analyst estimates of $243.93 million. Globus Medical had a return on equity of 12.69% and a net margin of 15.57%. During the same quarter last year, the firm posted $0.58 earnings per share.

A number of equities research analysts recently weighed in on GMED shares. Zacks Investment Research downgraded Globus Medical from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a research report on Tuesday, February 22nd. StockNews.com started coverage on Globus Medical in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company started coverage on Globus Medical in a research report on Monday, March 28th. They set an “overweight” rating and a $80.00 price objective on the stock. Needham & Company LLC dropped their price objective on Globus Medical from $92.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday, February 18th. Finally, Credit Suisse Group dropped their price objective on Globus Medical from $95.00 to $91.00 and set an “outperform” rating on the stock in a research report on Friday, February 18th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Globus Medical has a consensus rating of “Buy” and a consensus price target of $84.83.

Shares of Globus Medical stock opened at $67.29 on Tuesday. Globus Medical has a 12 month low of $62.39 and a 12 month high of $84.23. The stock’s fifty day moving average price is $71.61 and its 200-day moving average price is $70.87. The firm has a market cap of $6.83 billion, a P/E ratio of 47.06, a P/E/G ratio of 3.00 and a beta of 1.11.

In related news, Director James R. Tobin sold 10,000 shares of Globus Medical stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $70.04, for a total transaction of $700,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David D. Davidar sold 31,500 shares of Globus Medical stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $78.03, for a total value of $2,457,945.00. Following the sale, the director now directly owns 601,275 shares of the company’s stock, valued at approximately $46,917,488.25. The disclosure for this sale can be found here. In the last three months, insiders sold 48,484 shares of company stock valued at $3,670,143. Corporate insiders own 24.75% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. JJJ Advisors Inc. lifted its holdings in shares of Globus Medical by 111.2% during the first quarter. JJJ Advisors Inc. now owns 828 shares of the medical device company’s stock worth $61,000 after purchasing an additional 436 shares during the period. WASHINGTON TRUST Co acquired a new stake in shares of Globus Medical during the first quarter worth about $74,000. Washington Trust Advisors Inc. raised its position in Globus Medical by 0.7% during the first quarter. Washington Trust Advisors Inc. now owns 180,906 shares of the medical device company’s stock valued at $13,348,000 after acquiring an additional 1,186 shares in the last quarter. New York State Common Retirement Fund raised its position in Globus Medical by 0.4% during the first quarter. New York State Common Retirement Fund now owns 103,776 shares of the medical device company’s stock valued at $7,657,000 after acquiring an additional 431 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Globus Medical by 13.2% during the first quarter. Russell Investments Group Ltd. now owns 55,963 shares of the medical device company’s stock valued at $4,128,000 after acquiring an additional 6,529 shares in the last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Company Profile (Get Rating)

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. It offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative, deformity, tumors, and trauma conditions; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional pain management solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.

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

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