$0.43 Earnings Per Share Expected for Globus Medical Inc (NYSE:GMED) This Quarter

Wall Street analysts expect Globus Medical Inc (NYSE:GMED) to post earnings per share (EPS) of $0.43 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Globus Medical’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.44. Globus Medical reported earnings of $0.39 per share in the same quarter last year, which would indicate a positive year over year growth rate of 10.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Globus Medical will report full year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $1.72. For the next financial year, analysts forecast that the business will post earnings of $1.90 per share, with EPS estimates ranging from $1.86 to $1.94. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Globus Medical.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, August 1st. The medical device company reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The company had revenue of $150.55 million during the quarter, compared to the consensus estimate of $184.93 million. Globus Medical had a net margin of 19.30% and a return on equity of 13.29%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share.

Several brokerages recently weighed in on GMED. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target (up previously from $52.00) on shares of Globus Medical in a research report on Friday, August 2nd. Wells Fargo & Co downgraded shares of Globus Medical from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $50.00 to $41.00 in a research report on Friday, May 24th. Morgan Stanley set a $45.00 price target on shares of Globus Medical and gave the company a “hold” rating in a research report on Wednesday, June 5th. Finally, Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating and set a $54.00 price target for the company in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $55.20.

Shares of GMED traded down $0.47 on Wednesday, hitting $48.37. 19,038 shares of the stock traded hands, compared to its average volume of 629,505. The stock has a market cap of $4.87 billion, a P/E ratio of 28.91, a PEG ratio of 2.52 and a beta of 0.89. The firm has a 50 day simple moving average of $44.08. Globus Medical has a one year low of $38.01 and a one year high of $57.83.

A number of large investors have recently bought and sold shares of GMED. Janus Henderson Group PLC raised its stake in Globus Medical by 83.1% during the 2nd quarter. Janus Henderson Group PLC now owns 6,179,600 shares of the medical device company’s stock valued at $261,397,000 after acquiring an additional 2,803,797 shares during the last quarter. Nuance Investments LLC grew its holdings in shares of Globus Medical by 307.4% in the 2nd quarter. Nuance Investments LLC now owns 1,316,057 shares of the medical device company’s stock worth $55,669,000 after acquiring an additional 993,056 shares during the period. Pembroke Management LTD acquired a new stake in shares of Globus Medical in the 2nd quarter worth approximately $13,495,000. Invesco Ltd. grew its holdings in shares of Globus Medical by 73.1% in the 2nd quarter. Invesco Ltd. now owns 627,072 shares of the medical device company’s stock worth $26,526,000 after acquiring an additional 264,790 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Globus Medical by 43.9% in the 2nd quarter. Wells Fargo & Company MN now owns 722,717 shares of the medical device company’s stock worth $30,570,000 after acquiring an additional 220,515 shares during the period. 69.61% of the stock is owned by institutional investors and hedge funds.

About Globus Medical

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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