Globus Medical (GMED) Releases FY 2018 Earnings Guidance
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.
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.
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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