Globus Medical (GMED) Scheduled to Post Earnings on Tuesday

Globus Medical (NYSE:GMED) is scheduled to release its earnings data after the market closes on Tuesday, May 7th. Analysts expect Globus Medical to post earnings of $0.55 per share for the quarter. Globus Medical has set its FY24 guidance at $2.68 to $2.70 EPS and its FY 2024 guidance at 2.680-2.700 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $616.53 million for the quarter, compared to the consensus estimate of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The business’s revenue for the quarter was up 124.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 EPS. On average, analysts expect Globus Medical to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Globus Medical Trading Up 2.9 %

NYSE:GMED opened at $51.95 on Friday. The stock’s 50 day moving average price is $52.57 and its 200 day moving average price is $51.22. The company has a market capitalization of $7.03 billion, a PE ratio of 44.40, a P/E/G ratio of 1.49 and a beta of 1.11. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10. Globus Medical has a 52-week low of $43.38 and a 52-week high of $62.88.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GMED shares. BTIG Research upgraded Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, March 18th. Truist Financial lifted their price target on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Globus Medical in a research report on Thursday, January 11th. Finally, Stifel Nicolaus boosted their target price on Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and a consensus price target of $66.33.

Insider Transactions at Globus Medical

In related news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the transaction, the director now directly owns 17,419 shares in the company, valued at $905,613.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.30% of the company’s stock.

Globus Medical Company Profile

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