Wall Street brokerages forecast that Globus Medical Inc (NYSE:GMED) will announce $167.68 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Globus Medical’s earnings, with the lowest sales estimate coming in at $164.30 million and the highest estimate coming in at $169.80 million. Globus Medical posted sales of $155.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.6%. The company is scheduled to issue its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Globus Medical will report full year sales of $690.52 million for the current year, with estimates ranging from $689.70 million to $692.34 million. For the next year, analysts forecast that the business will post sales of $752.17 million per share, with estimates ranging from $738.30 million to $775.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Globus Medical.
Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, February 21st. The medical device company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. The company had revenue of $176.03 million during the quarter, compared to analysts’ expectations of $175.50 million. Globus Medical had a return on equity of 13.93% and a net margin of 16.88%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS.
GMED opened at $50.66 on Friday. The company has a market capitalization of $4,879.52, a PE ratio of 38.36, a PEG ratio of 2.80 and a beta of 0.42. Globus Medical has a 52 week low of $27.79 and a 52 week high of $52.18.
In other Globus Medical news, VP Daniel T. Scavilla sold 100,000 shares of Globus Medical stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $50.00, for a total value of $5,000,000.00. Following the completion of the sale, the vice president now owns 18,210 shares of the company’s stock, valued at approximately $910,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Eric Schwartz sold 24,000 shares of Globus Medical stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $50.00, for a total value of $1,200,000.00. Following the completion of the sale, the vice president now directly owns 24,000 shares of the company’s stock, valued at approximately $1,200,000. The disclosure for this sale can be found here. 28.21% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of GMED. Janus Henderson Group PLC increased its holdings in shares of Globus Medical by 18.6% in the 3rd quarter. Janus Henderson Group PLC now owns 3,181,499 shares of the medical device company’s stock worth $94,554,000 after purchasing an additional 498,187 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Globus Medical in the 3rd quarter worth $13,187,000. NWQ Investment Management Company LLC increased its holdings in shares of Globus Medical by 43.1% in the 4th quarter. NWQ Investment Management Company LLC now owns 1,245,219 shares of the medical device company’s stock worth $51,179,000 after purchasing an additional 375,234 shares in the last quarter. Pembroke Management LTD bought a new stake in shares of Globus Medical in the 4th quarter worth $9,720,000. Finally, Redmile Group LLC bought a new stake in shares of Globus Medical in the 4th quarter worth $8,573,000. 65.92% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Zacks: Analysts Anticipate Globus Medical Inc (GMED) Will Post Quarterly Sales of $167.68 Million” was reported by Dakota Financial News and is owned by of Dakota Financial News. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://dakotafinancialnews.com/2018/04/14/zacks-analysts-anticipate-globus-medical-inc-gmed-will-post-quarterly-sales-of-167-68-million.html.
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 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.