FY2024 EPS Estimates for Globus Medical Cut by Roth Capital

Globus Medical, Inc. (NYSE:GMED) – Research analysts at Roth Capital cut their FY2024 earnings per share estimates for Globus Medical in a research report issued to clients and investors on Monday, January 27th. Roth Capital analyst J. Wittes now expects that the medical device company will earn $3.00 per share for the year, down from their prior 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.

Several other analysts have also issued reports on GMED. Piper Sandler upped their target price on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group upped their target price on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Roth Mkm upped their price objective on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Finally, Truist Financial lifted their target price on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.91.

Globus Medical Stock Down 0.1 %

GMED stock opened at $92.85 on Wednesday. The stock’s 50 day moving average is $85.50 and its 200-day moving average is $77.14. Globus Medical has a twelve month low of $49.33 and a twelve month high of $93.87. The firm has a market capitalization of $12.64 billion, a PE ratio of 138.58, a P/E/G ratio of 1.78 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 net margin of 3.69% and a return on equity of 9.98%. The business’s revenue was up 63.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share.

Insiders Place Their Bets

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The disclosure for this sale can be found here. Insiders sold 81,667 shares of company stock worth $6,674,554 over the last quarter. 18.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globus Medical

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in shares of Globus Medical in the 3rd quarter worth $27,000. Quarry LP increased its stake in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after acquiring an additional 433 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares during the last quarter. UMB Bank n.a. raised its position in Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Globus Medical by 40.7% during the third quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock worth $64,000 after purchasing an additional 257 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

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.