Globus Medical (GMED) Scheduled to Release Earnings on Tuesday

Globus Medical (NYSE:GMED) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, November 5th. Analysts expect the company to announce earnings of $0.65 per share for the quarter. Globus Medical has set its FY24 guidance at $2.80-2.90 EPS and its FY 2024 guidance at 2.800-2.900 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The business had revenue of $629.69 million during the quarter, compared to analysts’ expectations of $615.33 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. The company’s quarterly revenue was up 115.9% compared to the same quarter last year. On average, analysts expect Globus Medical to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Globus Medical Price Performance

NYSE:GMED opened at $74.20 on Tuesday. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 115.94, a price-to-earnings-growth ratio of 2.02 and a beta of 1.17. The firm’s fifty day moving average price is $71.21 and its 200 day moving average price is $67.07. Globus Medical has a 1-year low of $43.38 and a 1-year high of $75.98.

Insiders Place Their Bets

In other news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David D. Davidar sold 30,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 536,275 shares of the company’s stock, valued at $40,242,076. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GMED shares. Royal Bank of Canada raised their price objective on shares of Globus Medical from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. BTIG Research raised their price target on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Truist Financial lifted their price target on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley increased their price objective on Globus Medical from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Globus Medical has an average rating of “Moderate Buy” and a consensus target price of $77.78.

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.