Wall Street analysts expect that Globus Medical Inc (NYSE:GMED) will announce $209.66 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Globus Medical’s earnings, with the lowest sales estimate coming in at $209.09 million and the highest estimate coming in at $210.10 million. Globus Medical posted sales of $195.94 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7%. The firm is expected to report its next quarterly earnings results on Thursday, February 20th.
On average, analysts expect that Globus Medical will report full year sales of $784.47 million for the current fiscal year, with estimates ranging from $782.79 million to $787.80 million. For the next fiscal year, analysts expect that the company will post sales of $855.74 million, with estimates ranging from $850.66 million to $860.52 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Globus Medical.
Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Wednesday, November 6th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $196.22 million during the quarter, compared to analyst estimates of $185.86 million. Globus Medical had a return on equity of 13.09% and a net margin of 19.03%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS.
In related news, Director David D. Davidar sold 38,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $54.00, for a total value of $2,052,000.00. Following the completion of the sale, the director now directly owns 666,775 shares in the company, valued at approximately $36,005,850. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kelly Huller sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.90, for a total value of $167,700.00. Following the sale, the senior vice president now directly owns 3,384 shares of the company’s stock, valued at approximately $189,165.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,000 shares of company stock worth $2,378,400. 24.97% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in GMED. Gabelli Funds LLC lifted its position in Globus Medical by 0.5% during the 2nd quarter. Gabelli Funds LLC now owns 213,000 shares of the medical device company’s stock worth $9,010,000 after acquiring an additional 1,000 shares during the last quarter. Northern Trust Corp increased its stake in shares of Globus Medical by 0.5% in the second quarter. Northern Trust Corp now owns 1,221,143 shares of the medical device company’s stock worth $51,655,000 after purchasing an additional 6,180 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Globus Medical by 20.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,489 shares of the medical device company’s stock worth $317,000 after purchasing an additional 1,256 shares during the period. Isthmus Partners LLC acquired a new position in shares of Globus Medical during the 2nd quarter worth about $1,211,000. Finally, Millennium Management LLC lifted its position in shares of Globus Medical by 22.9% during the 3rd quarter. Millennium Management LLC now owns 316,430 shares of the medical device company’s stock worth $16,175,000 after purchasing an additional 58,930 shares during the last quarter. 67.46% of the stock is currently owned by institutional investors.
NYSE:GMED opened at $57.18 on Friday. The company has a market capitalization of $5.68 billion, a P/E ratio of 34.24, a P/E/G ratio of 2.90 and a beta of 0.96. The stock’s 50 day moving average price is $53.79 and its 200 day moving average price is $47.98. Globus Medical has a 52 week low of $38.01 and a 52 week high of $57.22.
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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