Globus Medical (GMED) Scheduled to Post Quarterly Earnings on Thursday

Globus Medical (NYSE:GMED) will announce its earnings results after the market closes on Thursday, November 8th. Analysts expect the company to announce earnings of $0.33 per share for the quarter.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Wednesday, August 1st. The medical device company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.09. Globus Medical had a return on equity of 15.14% and a net margin of 19.91%. The company had revenue of $173.40 million during the quarter, compared to analysts’ expectations of $168.03 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, analysts expect Globus Medical to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of GMED opened at $52.85 on Thursday. Globus Medical has a one year low of $30.82 and a one year high of $57.55. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 2.68 and a beta of 0.63.

GMED has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Globus Medical from $60.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. Zacks Investment Research cut Globus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Oppenheimer set a $57.00 price objective on Globus Medical and gave the company a “hold” rating in a report on Thursday, August 2nd. Finally, Needham & Company LLC boosted their price objective on Globus Medical from $58.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $54.73.

In related news, Chairman David C. Paul sold 707,191 shares of the company’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $54.01, for a total value of $38,195,385.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.44% of the company’s stock.

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 an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.

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Earnings History for Globus Medical (NYSE:GMED)

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