Equities analysts expect that Globus Medical Inc (NYSE:GMED) will post sales of $186.59 million for the current quarter, according to Zacks. Three analysts have issued estimates for Globus Medical’s earnings. The highest sales estimate is $188.40 million and the lowest is $185.16 million. Globus Medical posted sales of $169.24 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.3%. The firm is expected to report its next earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Globus Medical will report full year sales of $774.15 million for the current year, with estimates ranging from $765.00 million to $778.50 million. For the next fiscal year, analysts anticipate that the firm will post sales of $844.96 million, with estimates ranging from $840.00 million to $849.60 million. Zacks’ sales averages are an average based on a survey of analysts that cover Globus Medical.

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

GMED has been the subject of a number of research reports. Wells Fargo & Co cut shares of Globus Medical from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $50.00 to $41.00 in a research report on Friday, May 24th. Zacks Investment Research upgraded shares of Globus Medical from a “sell” rating to a “hold” rating and set a $54.00 price target on the stock in a research report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $56.00 price target (up from $52.00) on shares of Globus Medical in a research report on Friday, August 2nd. Finally, Morgan Stanley set a $45.00 price target on shares of Globus Medical and gave the stock a “hold” rating in a research report on Wednesday, June 5th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.20.

GMED traded down $0.99 on Friday, reaching $50.31. The company had a trading volume of 525,848 shares, compared to its average volume of 622,001. Globus Medical has a 1 year low of $38.01 and a 1 year high of $57.83. The stock has a market capitalization of $4.99 billion, a PE ratio of 30.13, a P/E/G ratio of 2.45 and a beta of 0.89. The stock has a 50-day moving average price of $45.73 and a 200-day moving average price of $44.91.

In related news, Director David D. Davidar sold 50,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 754,775 shares of the company’s stock, valued at $37,233,050.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.97% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position 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 period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Globus Medical by 14.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 553,161 shares of the medical device company’s stock valued at $23,399,000 after buying an additional 71,718 shares during the last quarter. United Services Automobile Association grew its stake in shares of Globus Medical by 105.0% during the second quarter. United Services Automobile Association now owns 80,975 shares of the medical device company’s stock valued at $3,425,000 after buying an additional 41,480 shares during the last quarter. Zacks Investment Management bought a new position in shares of Globus Medical during the second quarter valued at approximately $773,000. Finally, Nuveen Asset Management LLC bought a new position in shares of Globus Medical during the second quarter valued at approximately $29,363,000. 70.40% of the stock is currently 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 a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

Featured Article: What strategies should day traders use to execute a trade?

Get a free copy of the Zacks research report on Globus Medical (GMED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Globus Medical (NYSE:GMED)

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.