Globus Medical (GMED) Projected to Post Quarterly Earnings on Thursday

Globus Medical (NYSE:GMED) is expected to issue its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of $0.74 per share and revenue of $646.19 million for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Globus Medical Price Performance

GMED stock opened at $83.99 on Tuesday. The company’s 50 day simple moving average is $86.65 and its 200-day simple moving average is $78.66. The firm has a market capitalization of $11.44 billion, a PE ratio of 125.36, a P/E/G ratio of 1.68 and a beta of 1.19. Globus Medical has a 12 month low of $49.33 and a 12 month high of $94.93.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GMED shares. Truist Financial upped their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Roth Mkm raised their target price on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Royal Bank of Canada raised their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Friday. Finally, Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Company insiders own 18.54% 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.