Globus Medical (NYSE:GMED) Posts Earnings Results, Beats Estimates By $0.39 EPS

Globus Medical (NYSE:GMED) released its quarterly earnings results on Thursday. The medical device company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.39, FiscalAI reports. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The business had revenue of $769.05 million for the quarter, compared to analysts’ expectations of $734.58 million. During the same period in the previous year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. Globus Medical updated its FY 2025 guidance to 3.750-3.85 EPS.

Globus Medical Price Performance

NYSE:GMED traded up $22.28 on Friday, reaching $83.99. 12,468,141 shares of the company’s stock were exchanged, compared to its average volume of 1,459,207. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 32.31, a P/E/G ratio of 1.68 and a beta of 1.15. The stock has a fifty day simple moving average of $59.83 and a 200-day simple moving average of $60.01. Globus Medical has a 52 week low of $51.79 and a 52 week high of $94.93.

Insider Buying and Selling

In related news, Director Ann D. Rhoads sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $58.46, for a total value of $584,600.00. Following the completion of the transaction, the director directly owned 25,384 shares of the company’s stock, valued at approximately $1,483,948.64. This trade represents a 28.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.51% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new position in shares of Globus Medical in the second quarter valued at $398,000. FORA Capital LLC purchased a new position in Globus Medical during the 2nd quarter valued at about $1,549,000. Headlands Technologies LLC increased its position in shares of Globus Medical by 485.4% during the second quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock valued at $45,000 after buying an additional 631 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Globus Medical by 0.7% in the second quarter. Corient Private Wealth LLC now owns 46,737 shares of the medical device company’s stock worth $2,756,000 after buying an additional 317 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Globus Medical by 9.5% in the second quarter. Captrust Financial Advisors now owns 24,333 shares of the medical device company’s stock valued at $1,436,000 after acquiring an additional 2,112 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Stifel Nicolaus assumed coverage on Globus Medical in a research report on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price objective on the stock. Wells Fargo & Company upped their price objective on Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Canaccord Genuity Group lowered their target price on Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average price target of $87.82.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.