Globus Medical (NYSE:GMED) Announces Quarterly Earnings Results

Globus Medical (NYSE:GMED) issued its earnings results on Thursday. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.10, Zacks reports. The business had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%.

Globus Medical Stock Down 4.4 %

Shares of Globus Medical stock opened at $80.43 on Friday. The company has a market cap of $10.95 billion, a PE ratio of 107.24, a P/E/G ratio of 1.61 and a beta of 1.19. The business has a 50 day moving average of $86.72 and a 200 day moving average of $79.03. Globus Medical has a 52 week low of $49.33 and a 52 week high of $94.93.

Insider Activity at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on GMED shares. Piper Sandler upped their target price on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. BTIG Research increased their price objective on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Friday. Truist Financial increased their price objective on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, StockNews.com raised Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $96.91.

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.