Globus Medical (NYSE:GMED) Releases FY 2020 After-Hours Earnings Guidance

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Globus Medical (NYSE:GMED) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.82-1.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.92. The company issued revenue guidance of $850-850 million, compared to the consensus revenue estimate of $854.39 million.Globus Medical also updated its FY 2019
After-Hours guidance to EPS.

Shares of NYSE GMED traded up $0.10 during midday trading on Thursday, hitting $52.96. 117,414 shares of the company traded hands, compared to its average volume of 472,052. Globus Medical has a 12-month low of $38.37 and a 12-month high of $60.15. The stock has a 50-day moving average price of $57.31 and a 200 day moving average price of $51.28. The firm has a market cap of $5.27 billion, a P/E ratio of 31.71, a P/E/G ratio of 2.70 and a beta of 0.96.

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 consensus estimate of $0.42 by $0.01. The company had revenue of $196.22 million for the quarter, compared to analysts’ expectations of $185.86 million. Globus Medical had a net margin of 19.03% and a return on equity of 13.09%. Globus Medical’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 earnings per share. Sell-side analysts predict that Globus Medical will post 1.71 earnings per share for the current year.

GMED has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Globus Medical from a hold rating to a buy rating and set a $61.00 price target on the stock in a report on Friday, December 13th. Credit Suisse Group increased their price objective on shares of Globus Medical from $59.00 to $67.00 and gave the company an outperform rating in a research report on Wednesday, January 8th. Needham & Company LLC reiterated a buy rating and issued a $63.00 price target on shares of Globus Medical in a research report on Thursday, November 7th. UBS Group increased their price target on shares of Globus Medical from $61.00 to $67.00 and gave the stock a buy rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $64.00 price target on shares of Globus Medical in a research report on Thursday, January 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Globus Medical currently has an average rating of Buy and a consensus target price of $64.00.

In other Globus Medical news, SVP Kelly Huller sold 6,460 shares of Globus Medical stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $58.90, for a total value of $380,494.00. Following the completion of the transaction, the senior vice president now directly owns 3,076 shares of the company’s stock, valued at approximately $181,176.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David D. Davidar sold 38,000 shares of Globus Medical stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $54.00, for a total transaction of $2,052,000.00. Following the completion of the transaction, the director now directly owns 666,775 shares of the company’s stock, valued at $36,005,850. The disclosure for this sale can be found here. Insiders have sold 50,460 shares of company stock valued at $2,758,894 over the last ninety days. 24.97% of the stock is currently owned by corporate insiders.

Globus Medical Company Profile

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

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