Globus Medical, Inc. (GMED) Scheduled to Post Quarterly Earnings on Monday
Globus Medical, Inc. (NYSE:GMED) is set to issue its quarterly earnings data after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of $0.30 per share for the quarter. Globus Medical has set its FY17 guidance at $1.27 EPS.
Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The firm had revenue of $152.39 million during the quarter, compared to analysts’ expectations of $150.94 million. During the same quarter last year, the company posted $0.29 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, analysts expect Globus Medical to post $1.27 EPS for the current fiscal year and $1.38 EPS for the next fiscal year.
Globus Medical, Inc. (GMED) opened at 31.39 on Monday. Globus Medical, Inc. has a 12-month low of $19.25 and a 12-month high of $34.03. The firm has a 50-day moving average of $30.09 and a 200-day moving average of $30.93. The stock has a market cap of $3.02 billion, a PE ratio of 28.28 and a beta of 0.56.
GMED has been the subject of a number of recent analyst reports. Zacks Investment Research cut Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub cut Globus Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. set a $35.00 target price on Globus Medical and gave the stock a “hold” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $30.57.
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In other news, insider A Brett Murphy sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total transaction of $449,850.00. Following the completion of the transaction, the insider now directly owns 101,217 shares in the company, valued at $3,035,497.83. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 28.21% of the stock is owned by insiders.
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.
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