Brokerages expect that Globus Medical Inc (NYSE:GMED) will report $187.98 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Globus Medical’s earnings. The lowest sales estimate is $187.50 million and the highest is $188.21 million. Globus Medical reported sales of $176.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.8%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 20th.

On average, analysts expect that Globus Medical will report full year sales of $705.08 million for the current year, with estimates ranging from $704.50 million to $705.34 million. For the next fiscal year, analysts expect that the firm will post sales of $766.68 million, with estimates ranging from $760.58 million to $771.20 million. Zacks’ sales averages are an average based on a survey of analysts that follow Globus Medical.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, November 8th. The medical device company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.33 by $0.06. The company had revenue of $169.20 million during the quarter, compared to analysts’ expectations of $167.47 million. Globus Medical had a net margin of 20.79% and a return on equity of 15.36%. Globus Medical’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share.

Several brokerages recently commented on GMED. Zacks Investment Research cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Morgan Stanley boosted their price objective on shares of Globus Medical from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. Oppenheimer set a $57.00 price objective on shares of Globus Medical and gave the company a “hold” rating in a research note on Thursday, August 2nd. Needham & Company LLC boosted their price objective on shares of Globus Medical from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, Cantor Fitzgerald set a $65.00 price objective on shares of Globus Medical and gave the company a “buy” rating in a research note on Tuesday, November 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $56.00.

NYSE:GMED traded down $1.43 during mid-day trading on Wednesday, hitting $50.33. 659,958 shares of the stock traded hands, compared to its average volume of 663,480. The stock has a market cap of $5.10 billion, a P/E ratio of 38.42, a P/E/G ratio of 2.49 and a beta of 0.65. Globus Medical has a 12-month low of $36.27 and a 12-month high of $57.83.

In other Globus Medical news, insider David C. Paul sold 2,053,330 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this link. 28.44% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Globus Medical by 2.8% in the 3rd quarter. BlackRock Inc. now owns 9,456,276 shares of the medical device company’s stock worth $536,739,000 after buying an additional 254,550 shares in the last quarter. AQR Capital Management LLC grew its stake in Globus Medical by 7.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,395,569 shares of the medical device company’s stock worth $135,972,000 after buying an additional 169,823 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Globus Medical by 3.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,336,716 shares of the medical device company’s stock worth $75,872,000 after buying an additional 44,951 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Globus Medical by 19.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,335,595 shares of the medical device company’s stock worth $67,394,000 after acquiring an additional 221,613 shares during the last quarter. Finally, Standard Life Aberdeen plc lifted its holdings in shares of Globus Medical by 3.3% in the 3rd quarter. Standard Life Aberdeen plc now owns 1,234,557 shares of the medical device company’s stock worth $70,074,000 after acquiring an additional 39,338 shares during the last quarter. 64.19% of the stock is owned by institutional investors and hedge funds.

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 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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