Brokerages forecast that Globus Medical, Inc. (NYSE:GMED) will announce $0.30 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Globus Medical’s earnings, with estimates ranging from $0.29 to $0.31. Globus Medical posted earnings per share of $0.29 in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The company is scheduled to issue its next earnings report on Tuesday, November 14th.

According to Zacks, analysts expect that Globus Medical will report full year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.25 to $1.27. For the next fiscal year, analysts forecast that the business will post earnings of $1.38 per share, with EPS estimates ranging from $1.35 to $1.41. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Globus Medical.

Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $152.39 million for the quarter, compared to the consensus estimate of $150.94 million. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. Globus Medical’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share.

Several equities research analysts recently commented on the stock. BidaskClub lowered shares of Globus Medical from a “sell” rating to a “strong sell” rating in a research note on Saturday. Canaccord Genuity reissued a “buy” rating and set a $37.00 price objective on shares of Globus Medical in a report on Friday, August 18th. Barclays PLC reissued an “underweight” rating and set a $28.00 price objective (down from $30.00) on shares of Globus Medical in a report on Wednesday, August 9th. Zacks Investment Research cut shares of Globus Medical from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, Gabelli reissued a “buy” rating on shares of Globus Medical in a report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.43.

Globus Medical (NYSE:GMED) traded down 0.07% during mid-day trading on Wednesday, hitting $29.15. The company had a trading volume of 607,564 shares. The firm has a market capitalization of $2.81 billion, a PE ratio of 26.26 and a beta of 0.60. The company’s 50 day moving average price is $30.86 and its 200-day moving average price is $30.39. Globus Medical has a 12-month low of $19.25 and a 12-month high of $34.03.

In other Globus Medical news, President Anthony L. Williams sold 16,153 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $31.94, for a total transaction of $515,926.82. Following the transaction, the president now owns 16,153 shares of the company’s stock, valued at approximately $515,926.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 28.21% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL boosted its stake in Globus Medical by 110.1% in the first quarter. Virginia Retirement Systems ET AL now owns 81,300 shares of the medical device company’s stock worth $2,408,000 after buying an additional 42,600 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Globus Medical by 1.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 33,330 shares of the medical device company’s stock worth $987,000 after buying an additional 560 shares during the period. Bank of America Corp DE boosted its stake in Globus Medical by 17.5% in the first quarter. Bank of America Corp DE now owns 578,179 shares of the medical device company’s stock worth $17,125,000 after buying an additional 86,033 shares during the period. Geode Capital Management LLC boosted its stake in Globus Medical by 12.8% in the first quarter. Geode Capital Management LLC now owns 750,463 shares of the medical device company’s stock worth $22,228,000 after buying an additional 84,912 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in Globus Medical by 30.3% in the first quarter. UBS Asset Management Americas Inc. now owns 201,635 shares of the medical device company’s stock worth $5,972,000 after buying an additional 46,857 shares during the period. Institutional investors own 69.35% of the company’s stock.

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Globus Medical Company Profile

Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.

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