Globus Medical (NYSE:GMED) Updates FY 2025 Earnings Guidance

Globus Medical (NYSE:GMED) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.400-3.500 for the period, compared to the consensus EPS estimate of 3.420. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Globus Medical also updated its FY 2024 guidance to EPS.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price target on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Stifel Nicolaus lifted their price target on Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Truist Financial increased their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group upped their price target on shares of Globus Medical from $85.00 to $92.00 and gave the company a “buy” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $94.55.

Globus Medical Trading Up 3.5 %

GMED traded up $2.89 during midday trading on Wednesday, hitting $86.34. The company’s stock had a trading volume of 1,473,717 shares, compared to its average volume of 993,656. Globus Medical has a 52-week low of $49.33 and a 52-week high of $87.22. The firm has a 50-day moving average price of $82.33 and a two-hundred day moving average price of $74.86. The firm has a market cap of $11.76 billion, a P/E ratio of 128.87, a PEG ratio of 1.97 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company’s revenue was up 63.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. On average, equities analysts expect that Globus Medical will post 2.97 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David D. Davidar sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the sale, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,500 shares of company stock worth $7,674,950 over the last ninety days. 18.54% of the stock is owned by company insiders.

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.