Globus Medical Inc (NYSE:GMED) – Equities research analysts at William Blair increased their Q4 2018 earnings per share (EPS) estimates for Globus Medical in a research report issued to clients and investors on Tuesday. William Blair analyst K. Krum now forecasts that the medical device company will earn $0.39 per share for the quarter, up from their prior forecast of $0.37.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a report on Wednesday. Barclays restated a “sell” rating and set a $36.00 price target on shares of Globus Medical in a report on Wednesday. Wells Fargo & Co restated an “outperform” rating and set a $51.00 price target (up from $46.00) on shares of Globus Medical in a report on Wednesday. BTIG Research set a $45.00 target price on Globus Medical and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Globus Medical currently has an average rating of “Buy” and a consensus price target of $40.57.
Globus Medical (NYSE:GMED) opened at $43.66 on Friday. The stock has a market capitalization of $4,207.78, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 2.92 and a beta of 0.56. Globus Medical has a twelve month low of $25.67 and a twelve month high of $46.51.
Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $151.74 million for the quarter, compared to analysts’ expectations of $150.73 million. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 EPS.
Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in Globus Medical by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after acquiring an additional 35 shares in the last quarter. Sei Investments Co. lifted its stake in Globus Medical by 18.9% during the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after acquiring an additional 503 shares in the last quarter. Advisor Group Inc. lifted its stake in Globus Medical by 2.0% during the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after acquiring an additional 68 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Globus Medical by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock valued at $179,000 after acquiring an additional 808 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Globus Medical by 2.8% during the 2nd quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock valued at $197,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.
In other Globus Medical news, CAO Steven Payne sold 3,076 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $39.30, for a total transaction of $120,886.80. Following the transaction, the chief accounting officer now directly owns 23,847 shares in the company, valued at approximately $937,187.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider A Brett Murphy sold 51,449 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the transaction, the insider now owns 49,768 shares in the company, valued at $1,741,880. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,908 shares of company stock worth $4,747,975. 28.21% of the stock is owned by company insiders.
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Globus Medical Company Profile
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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