Globus Medical FY2024 EPS Estimate Raised by Zacks Research

Globus Medical, Inc. (NYSE:GMED) – Zacks Research increased their FY2024 EPS estimates for shares of Globus Medical in a report issued on Tuesday, November 26th. Zacks Research analyst R. Department now anticipates that the medical device company will earn $3.00 per share for the year, up from their previous forecast of $2.83. The consensus estimate for Globus Medical’s current full-year earnings is $2.98 per share. Zacks Research also issued estimates for Globus Medical’s Q4 2024 earnings at $0.70 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.85 EPS, Q3 2025 earnings at $0.83 EPS, FY2025 earnings at $3.43 EPS, Q1 2026 earnings at $1.02 EPS, Q2 2026 earnings at $0.97 EPS, Q3 2026 earnings at $1.01 EPS and FY2026 earnings at $3.96 EPS.

A number of other research firms have also recently weighed in on GMED. Bank of America upped their price target on Globus Medical from $55.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, November 6th. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BTIG Research raised their price target on shares of Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Piper Sandler lifted their price objective on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.18.

Globus Medical Stock Up 0.9 %

GMED stock opened at $85.29 on Thursday. Globus Medical has a 52-week low of $44.02 and a 52-week high of $85.74. The firm has a market cap of $11.61 billion, a P/E ratio of 127.30, a PEG ratio of 2.02 and a beta of 1.17. The company’s 50-day simple moving average is $75.96 and its 200-day simple moving average is $71.37.

Globus Medical (NYSE:GMED) last issued its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The firm had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company’s revenue was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share.

Insider Activity

In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the director now owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. This represents a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,000 shares of company stock valued at $8,512,850. 18.54% of the stock is currently owned by insiders.

Institutional Trading of Globus Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Globus Medical by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,151,660 shares of the medical device company’s stock worth $61,776,000 after purchasing an additional 81,944 shares during the period. Bayesian Capital Management LP acquired a new position in Globus Medical during the 1st quarter worth about $404,000. Comerica Bank boosted its holdings in Globus Medical by 0.5% during the 1st quarter. Comerica Bank now owns 54,814 shares of the medical device company’s stock valued at $2,940,000 after acquiring an additional 293 shares during the period. Swedbank AB acquired a new position in Globus Medical in the 1st quarter valued at about $17,433,000. Finally, Cetera Advisors LLC purchased a new stake in Globus Medical during the first quarter worth about $204,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.