FY2021 Earnings Forecast for Globus Medical Inc (NYSE:GMED) Issued By Svb Leerink

Globus Medical Inc (NYSE:GMED) – Svb Leerink increased their FY2021 earnings estimates for shares of Globus Medical in a report released on Thursday, November 7th. Svb Leerink analyst R. Newitter now anticipates that the medical device company will post earnings of $2.20 per share for the year, up from their previous estimate of $2.18.

GMED has been the topic of several other reports. Piper Jaffray Companies raised their price target on shares of Globus Medical from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday. Cantor Fitzgerald raised their price target on shares of Globus Medical from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday. ValuEngine upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and issued a $63.00 price target on shares of Globus Medical in a research report on Thursday. Finally, Wells Fargo & Co raised their price target on shares of Globus Medical from $42.00 to $53.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $58.00.

NYSE GMED traded up $0.98 during midday trading on Friday, hitting $55.72. The company had a trading volume of 586,900 shares, compared to its average volume of 578,325. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 2.74 and a beta of 0.95. The firm has a fifty day simple moving average of $51.06 and a two-hundred day simple moving average of $46.42. Globus Medical has a fifty-two week low of $38.01 and a fifty-two week high of $56.34.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Wednesday, November 6th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $196.22 million for the quarter, compared to analyst estimates of $185.86 million. Globus Medical had a net margin of 19.30% and a return on equity of 13.29%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Globus Medical by 0.9% during the 2nd quarter. BlackRock Inc. now owns 9,629,795 shares of the medical device company’s stock valued at $407,340,000 after purchasing an additional 89,022 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Globus Medical by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,181,055 shares of the medical device company’s stock valued at $303,760,000 after purchasing an additional 31,142 shares during the last quarter. Janus Henderson Group PLC lifted its holdings 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 purchasing an additional 2,803,797 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in Globus Medical by 10.3% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,476,695 shares of the medical device company’s stock valued at $62,464,000 after purchasing an additional 137,561 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in Globus Medical by 35.4% during the 3rd quarter. GW&K Investment Management LLC now owns 1,447,134 shares of the medical device company’s stock valued at $73,977,000 after purchasing an additional 378,211 shares during the last quarter. 68.00% of the stock is owned by hedge funds and other institutional investors.

In other news, Director David D. Davidar sold 50,000 shares of Globus Medical stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.33, for a total transaction of $2,466,500.00. Following the sale, the director now directly owns 754,775 shares in the company, valued at approximately $37,233,050.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kelly Huller sold 3,000 shares of Globus Medical stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $52.90, for a total transaction of $158,700.00. Following the sale, the senior vice president now owns 6,384 shares in the company, valued at $337,713.60. The disclosure for this sale can be found here. 24.97% of the stock is currently owned by insiders.

Globus Medical Company Profile

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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