Wall Street analysts forecast that Globus Medical Inc (NYSE:GMED) will post $167.68 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Globus Medical’s earnings. The lowest sales estimate is $164.30 million and the highest is $169.80 million. Globus Medical reported sales of $155.81 million during the same quarter last year, which indicates a positive year over year growth rate of 7.6%. The company is expected to announce its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Globus Medical will report full-year sales of $167.68 million for the current fiscal year, with estimates ranging from $689.60 million to $692.34 million. For the next year, analysts forecast that the firm will post sales of $750.30 million per share, with estimates ranging from $738.30 million to $763.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Globus Medical.
Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, February 21st. The medical device company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. Globus Medical had a return on equity of 13.93% and a net margin of 16.88%. The firm had revenue of $176.03 million for the quarter, compared to analysts’ expectations of $175.50 million. During the same quarter last year, the business earned $0.31 earnings per share. The company’s revenue was up 16.1% compared to the same quarter last year.
Shares of Globus Medical (NYSE GMED) traded down $0.05 on Friday, reaching $51.49. The company’s stock had a trading volume of 328,419 shares, compared to its average volume of 676,582. Globus Medical has a 12-month low of $27.07 and a 12-month high of $52.18. The company has a market capitalization of $4,942.16, a PE ratio of 46.90, a P/E/G ratio of 2.84 and a beta of 0.44.
In other news, President Anthony L. Williams sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $38.30, for a total transaction of $574,500.00. Following the sale, the president now owns 15,000 shares of the company’s stock, valued at $574,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Steven Payne sold 3,076 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the sale, the chief accounting officer now directly owns 23,847 shares in the company, valued at approximately $937,187.10. The disclosure for this sale can be found here. Company insiders own 28.21% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Retirement Systems of Alabama raised its position in Globus Medical by 45.6% in the 3rd quarter. Retirement Systems of Alabama now owns 135,562 shares of the medical device company’s stock valued at $4,029,000 after buying an additional 42,481 shares during the last quarter. Strs Ohio raised its position in Globus Medical by 275.8% in the 4th quarter. Strs Ohio now owns 35,700 shares of the medical device company’s stock valued at $1,467,000 after buying an additional 26,200 shares during the last quarter. Pembroke Management LTD acquired a new position in shares of Globus Medical during the 4th quarter worth approximately $9,720,000. Teacher Retirement System of Texas acquired a new position in shares of Globus Medical during the 4th quarter worth approximately $1,025,000. Finally, Rhumbline Advisers increased its position in shares of Globus Medical by 7.4% during the 3rd quarter. Rhumbline Advisers now owns 154,127 shares of the medical device company’s stock worth $4,581,000 after purchasing an additional 10,679 shares during the last quarter. 65.92% of the stock is currently owned by institutional investors and hedge funds.
About Globus Medical
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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