Roth Capital Boosts Earnings Estimates for Globus Medical

Globus Medical, Inc. (NYSE:GMED) – Investment analysts at Roth Capital upped their FY2024 earnings per share (EPS) estimates for shares of Globus Medical in a report issued on Friday, January 10th. Roth Capital analyst J. Wittes now expects that the medical device company will earn $3.03 per share for the year, up from their previous forecast of $3.00. The consensus estimate for Globus Medical’s current full-year earnings is $2.97 per share. Roth Capital also issued estimates for Globus Medical’s Q4 2024 earnings at $0.82 EPS, Q2 2025 earnings at $0.86 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.50 EPS, FY2026 earnings at $4.33 EPS and FY2027 earnings at $4.80 EPS.

Other analysts have also issued research reports about the company. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Stifel Nicolaus raised their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada raised their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $97.00 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.91.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $87.09 on Monday. The stock has a market capitalization of $11.86 billion, a PE ratio of 129.99, a P/E/G ratio of 1.97 and a beta of 1.19. Globus Medical has a 1-year low of $49.33 and a 1-year high of $90.48. The company’s fifty day simple moving average is $83.06 and its 200-day simple moving average is $75.27.

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

Institutional Trading of Globus Medical

A number of large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in Globus Medical in the 2nd quarter worth about $611,000. Quest Partners LLC bought a new position in Globus Medical in the third quarter worth approximately $523,000. Intech Investment Management LLC increased its holdings in Globus Medical by 291.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock worth $1,469,000 after purchasing an additional 15,283 shares during the period. Quantbot Technologies LP bought a new stake in Globus Medical during the 3rd quarter valued at $2,709,000. Finally, AXA S.A. lifted its holdings in shares of Globus Medical by 0.5% in the 2nd quarter. AXA S.A. now owns 1,478,242 shares of the medical device company’s stock worth $101,245,000 after buying an additional 7,443 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the completion of the transaction, the director now directly owns 536,275 shares in the company, valued at $40,242,076. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,500 shares of company stock valued at $7,674,950. Insiders own 18.54% of the company’s stock.

Globus Medical Company Profile

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.