Globus Medical Inc (NYSE:GMED) Expected to Post Earnings of $0.43 Per Share
Brokerages forecast that Globus Medical Inc (NYSE:GMED) will post $0.43 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Globus Medical’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.42. Globus Medical posted earnings of $0.39 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 14th.
On average, analysts expect that Globus Medical will report full-year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $1.72. For the next year, analysts forecast that the company will post earnings of $1.90 per share, with EPS estimates ranging from $1.86 to $1.94. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Globus Medical.
Globus Medical (NYSE:GMED) last released its earnings results on Thursday, August 1st. The medical device company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $150.55 million for the quarter, compared to analyst estimates of $184.93 million. Globus Medical had a net margin of 19.30% and a return on equity of 13.29%. Globus Medical’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share.
GMED traded down $0.47 during midday trading on Wednesday, hitting $48.37. The company had a trading volume of 19,038 shares, compared to its average volume of 629,505. Globus Medical has a 52 week low of $38.01 and a 52 week high of $57.83. The stock has a market cap of $4.87 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The stock’s 50 day simple moving average is $44.08.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd increased its position in shares of Globus Medical by 122.8% during the second quarter. WINTON GROUP Ltd now owns 11,756 shares of the medical device company’s stock worth $497,000 after acquiring an additional 6,480 shares in the last quarter. THB Asset Management bought a new stake in shares of Globus Medical during the first quarter worth about $215,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Globus Medical during the second quarter worth about $280,000. Virginia Retirement Systems ET AL increased its position in shares of Globus Medical by 9.0% during the first quarter. Virginia Retirement Systems ET AL now owns 39,900 shares of the medical device company’s stock worth $1,971,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Globus Medical by 29.9% during the first quarter. Retirement Systems of Alabama now owns 285,420 shares of the medical device company’s stock worth $14,103,000 after acquiring an additional 65,688 shares in the last quarter. 69.61% of the stock is owned by hedge funds and other institutional investors.
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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