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

Globus Medical (NYSE:GMED) updated its FY 2025 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.400-3.500 for the period, compared to the consensus 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.

Globus Medical Price Performance

Shares of GMED opened at $86.34 on Friday. Globus Medical has a 1 year low of $49.33 and a 1 year high of $87.22. The company has a 50 day simple moving average of $82.81 and a two-hundred day simple moving average of $75.02. The firm has a market cap of $11.76 billion, a P/E ratio of 128.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. During the same period in the prior year, the firm earned $0.57 EPS. The company’s revenue for the quarter was up 63.1% on a year-over-year basis. On average, sell-side analysts anticipate that Globus Medical will post 2.97 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on GMED shares. Wells Fargo & Company increased their target price on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Roth Mkm increased their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Piper Sandler boosted their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Finally, Stifel Nicolaus increased their price objective on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $96.09.

Insider Buying and Selling

In related news, CEO Daniel T. Scavilla sold 60,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,500 shares of company stock worth $7,674,950. 18.54% of the stock is owned by company insiders.

About Globus Medical

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.