FY2024 EPS Estimates for Globus Medical Reduced by Analyst

Globus Medical, Inc. (NYSE:GMEDFree Report) – Stock analysts at Roth Capital dropped their FY2024 earnings per share (EPS) estimates for shares of Globus Medical in a research note issued on Monday, January 27th. Roth Capital analyst J. Wittes now expects that the medical device company will post earnings per share of $3.00 for the year, down from their previous forecast of $3.03. The consensus estimate for Globus Medical’s current full-year earnings is $2.98 per share. Roth Capital also issued estimates for Globus Medical’s Q4 2024 earnings at $0.79 EPS, Q2 2025 earnings at $0.84 EPS, Q4 2025 earnings at $0.96 EPS, FY2025 earnings at $3.44 EPS, FY2026 earnings at $4.30 EPS and FY2027 earnings at $4.76 EPS.

Globus Medical (NYSE:GMEDGet Free Report) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $604.69 million. During the same quarter last year, the firm earned $0.57 EPS. Globus Medical’s revenue for the quarter was up 63.1% compared to the same quarter last year.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Stifel Nicolaus lifted their target price on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group increased their price target on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Truist Financial raised their price target on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

View Our Latest Stock Report on GMED

Globus Medical Stock Up 0.4 %

Shares of GMED stock opened at $93.17 on Wednesday. Globus Medical has a 12 month low of $49.33 and a 12 month high of $94.93. The company’s fifty day simple moving average is $85.69 and its 200-day simple moving average is $77.25. The firm has a market cap of $12.69 billion, a PE ratio of 139.06, a P/E/G ratio of 1.78 and a beta of 1.19.

Insider Transactions at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. Insiders sold a total of 81,667 shares of company stock worth $6,674,554 over the last quarter. Company insiders own 18.54% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Hedge funds have recently made changes to their positions in the stock. bLong Financial LLC acquired a new position in shares of Globus Medical during the fourth quarter worth $397,000. New York State Teachers Retirement System grew its position in Globus Medical by 12.3% during the 4th quarter. New York State Teachers Retirement System now owns 87,116 shares of the medical device company’s stock worth $7,205,000 after acquiring an additional 9,539 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Globus Medical by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 31,600 shares of the medical device company’s stock worth $2,614,000 after purchasing an additional 300 shares in the last quarter. Finally, Lightrock Netherlands B.V. bought a new position in Globus Medical in the fourth quarter valued at about $8,465,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

About Globus Medical

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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.

See Also

Earnings History and Estimates for Globus Medical (NYSE:GMED)

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