Globus Medical Inc (GMED) Expected to Post Quarterly Sales of $175.50 Million

Equities analysts expect Globus Medical Inc (NYSE:GMED) to post sales of $175.50 million for the current quarter, according to Zacks. Three analysts have issued estimates for Globus Medical’s earnings. Globus Medical reported sales of $151.59 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.8%. The company is expected to issue its next quarterly earnings results on Monday, February 26th.

According to Zacks, analysts expect that Globus Medical will report full-year sales of $175.50 million for the current year, with estimates ranging from $623.36 million to $635.40 million. For the next fiscal year, analysts forecast that the firm will post sales of $689.98 million per share, with estimates ranging from $689.60 million to $690.30 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Globus Medical.

Globus Medical (NYSE:GMED) last posted its earnings results on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $151.74 million for the quarter, compared to the consensus estimate of $150.73 million. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share.

A number of equities research analysts recently commented on GMED shares. Canaccord Genuity reiterated a “buy” rating and issued a $38.00 target price on shares of Globus Medical in a research report on Thursday, November 9th. ValuEngine upgraded Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. BTIG Research reiterated a “buy” rating and issued a $37.00 target price on shares of Globus Medical in a research report on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating on shares of Globus Medical in a research note on Thursday, October 19th. Finally, Gabelli reissued a “buy” rating on shares of Globus Medical in a research note on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $40.57.

Shares of Globus Medical (NYSE:GMED) opened at $45.64 on Monday. The company has a market capitalization of $4,398.60, a PE ratio of 41.49, a P/E/G ratio of 2.67 and a beta of 0.48. Globus Medical has a 52-week low of $25.85 and a 52-week high of $47.09.

In other Globus Medical news, Director David D. Davidar sold 55,383 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $40.66, for a total transaction of $2,251,872.78. Following the sale, the director now directly owns 752,236 shares of the company’s stock, valued at $30,585,915.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Steven Payne sold 3,076 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the sale, the chief accounting officer now directly owns 23,847 shares in the company, valued at $937,187.10. The disclosure for this sale can be found here. Insiders have sold 124,908 shares of company stock worth $4,747,975 over the last three months. 28.21% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in shares of Globus Medical by 1.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after buying an additional 35 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Globus Medical by 2.0% during the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after buying an additional 68 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Globus Medical by 39.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,183 shares of the medical device company’s stock valued at $172,000 after buying an additional 1,183 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Globus Medical during the fourth quarter valued at approximately $204,000. Finally, Citigroup Inc. grew its stake in shares of Globus Medical by 2.8% during the second quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock valued at $197,000 after buying an additional 161 shares during the last quarter. 70.28% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Globus Medical Inc (GMED) Expected to Post Quarterly Sales of $175.50 Million” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/05/globus-medical-inc-gmed-expected-to-post-quarterly-sales-of-175-50-million.html.

Globus Medical Company Profile

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

Leave a Reply