Analysts expect Globus Medical Inc (NYSE:GMED) to report $0.43 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Globus Medical’s earnings, with estimates ranging from $0.42 to $0.44. Globus Medical posted earnings per share of $0.39 in the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The company is scheduled to report its next quarterly earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Globus Medical will report full year earnings of $1.71 per share for the current financial year, with EPS estimates ranging from $1.69 to $1.72. For the next fiscal year, analysts forecast that the business will post earnings of $1.90 per share, with EPS estimates ranging from $1.86 to $1.93. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Globus Medical.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, August 1st. The medical device company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $150.55 million for the quarter, compared to analyst estimates of $184.93 million. Globus Medical had a return on equity of 13.29% and a net margin of 19.30%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share.

Several equities analysts have issued reports on GMED shares. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price objective (up previously from $52.00) on shares of Globus Medical in a report on Friday, August 2nd. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating and set a $54.00 price target on the stock in a report on Tuesday, August 6th. Morgan Stanley set a $45.00 price target on Globus Medical and gave the stock a “hold” rating in a report on Wednesday, June 5th. Finally, Wells Fargo & Co lowered Globus Medical from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $50.00 to $41.00 in a report on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.20.

In related news, Director David D. Davidar sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.33, for a total transaction of $2,466,500.00. Following the transaction, the director now owns 754,775 shares of the company’s stock, valued at $37,233,050.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 24.97% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan boosted its holdings in Globus Medical by 1.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,080 shares of the medical device company’s stock valued at $596,000 after purchasing an additional 220 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Globus Medical by 0.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,178 shares of the medical device company’s stock valued at $1,886,000 after acquiring an additional 292 shares during the period. Oakbrook Investments LLC lifted its position in shares of Globus Medical by 5.9% during the 2nd quarter. Oakbrook Investments LLC now owns 5,400 shares of the medical device company’s stock valued at $228,000 after acquiring an additional 300 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Globus Medical by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 30,789 shares of the medical device company’s stock valued at $1,302,000 after acquiring an additional 435 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Globus Medical by 13.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,085 shares of the medical device company’s stock valued at $202,000 after acquiring an additional 471 shares during the period. 70.40% of the stock is currently owned by institutional investors.

Shares of GMED stock traded up $0.69 during mid-day trading on Wednesday, hitting $51.04. 549,200 shares of the stock were exchanged, compared to its average volume of 623,452. The stock’s fifty day simple moving average is $45.31 and its two-hundred day simple moving average is $44.84. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 30.56, a P/E/G ratio of 2.42 and a beta of 0.89. Globus Medical has a 12-month low of $38.01 and a 12-month high of $57.83.

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 a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

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