Globus Medical (NYSE:GMED) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.62-1.62 for the period, compared to the Thomson Reuters consensus estimate of $1.55. The company issued revenue guidance of $705-705 million, compared to the consensus revenue estimate of $701.41 million.Globus Medical also updated its FY18 guidance to $1.62 EPS.

Shares of NYSE:GMED opened at $51.86 on Friday. Globus Medical has a 12 month low of $34.45 and a 12 month high of $57.83. The stock has a market capitalization of $5.58 billion, a P/E ratio of 37.14, a price-to-earnings-growth ratio of 2.91 and a beta of 0.65.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, November 8th. The medical device company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.06. Globus Medical had a net margin of 19.91% and a return on equity of 15.14%. The firm had revenue of $169.20 million during the quarter, compared to the consensus estimate of $167.47 million. During the same quarter last year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, research analysts expect that Globus Medical will post 1.55 earnings per share for the current year.

GMED has been the subject of a number of analyst reports. Morgan Stanley increased their price target on shares of Globus Medical from $60.00 to $64.00 and gave the company a buy rating in a report on Tuesday, September 25th. Oppenheimer set a $57.00 price target on shares of Globus Medical and gave the company a hold rating in a report on Thursday, August 2nd. Zacks Investment Research downgraded shares of Globus Medical from a buy rating to a hold rating in a report on Tuesday, July 31st. Needham & Company LLC increased their price target on shares of Globus Medical from $58.00 to $65.00 and gave the company a buy rating in a report on Thursday, August 2nd. Finally, Leerink Swann increased their price target on shares of Globus Medical from $61.00 to $65.00 and gave the company an outperform rating in a report on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $56.00.

In related news, insider David C. Paul sold 2,053,330 shares of the stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $54.26, for a total value of $111,413,685.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 28.44% of the company’s stock.

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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 and Estimates for Globus Medical (NYSE:GMED)

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