Wall Street brokerages expect that Globus Medical, Inc. (NYSE:GMED) will post $151.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Globus Medical’s earnings, with the lowest sales estimate coming in at $147.90 million and the highest estimate coming in at $155.60 million. Globus Medical posted sales of $137.49 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.2%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, August 2nd.

According to Zacks, analysts expect that Globus Medical will report full year sales of $151.50 million for the current year, with estimates ranging from $624.90 million to $626.45 million. For the next year, analysts expect that the firm will post sales of $679.80 million per share, with estimates ranging from $668.80 million to $693.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Globus Medical.

Globus Medical (NYSE:GMED) last announced its earnings results on Wednesday, May 3rd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. Globus Medical had a net margin of 18.09% and a return on equity of 14.15%. The company had revenue of $155.81 million for the quarter.

A number of brokerages have recently weighed in on GMED. Zacks Investment Research cut shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Leerink Swann raised shares of Globus Medical from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 12th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Globus Medical in a research report on Thursday, May 18th. Canaccord Genuity raised shares of Globus Medical from a “hold” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $37.00 in a research report on Thursday, May 4th. Finally, BidaskClub cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Globus Medical presently has an average rating of “Hold” and an average price target of $28.89.

In related news, President Anthony L. Williams sold 16,153 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $31.94, for a total transaction of $515,926.82. Following the sale, the president now directly owns 16,153 shares in the company, valued at $515,926.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 28.21% of the company’s stock.

Several large investors have recently modified their holdings of the company. Elkfork Partners LLC acquired a new stake in shares of Globus Medical during the first quarter valued at about $114,000. Victory Capital Management Inc. raised its stake in shares of Globus Medical by 22.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock valued at $136,000 after buying an additional 830 shares during the last quarter. Meadow Creek Investment Management LLC acquired a new stake in shares of Globus Medical during the first quarter valued at about $138,000. OppenheimerFunds Inc. acquired a new stake in shares of Globus Medical during the first quarter valued at about $200,000. Finally, Hartford Investment Management Co. acquired a new stake in shares of Globus Medical during the first quarter valued at about $207,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Shares of Globus Medical (NYSE GMED) opened at 32.38 on Friday. Globus Medical has a 52 week low of $19.25 and a 52 week high of $34.03. The firm has a market capitalization of $3.11 billion, a P/E ratio of 29.71 and a beta of 0.62. The firm’s 50-day moving average is $32.08 and its 200 day moving average is $28.83.

COPYRIGHT VIOLATION NOTICE: “$151.50 Million in Sales Expected for Globus Medical, Inc. (GMED) This Quarter” was reported by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/07/16/151-50-million-in-sales-expected-for-globus-medical-inc-gmed-this-quarter.html.

About Globus Medical

Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.

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

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