Globus Medical (NYSE:GMED) Issues FY 2019 Earnings Guidance

Globus Medical (NYSE:GMED) updated its FY 2019 earnings guidance on Thursday. The company provided EPS guidance of $1.72-1.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.72. The company issued revenue guidance of $770-775 million, compared to the consensus revenue estimate of $768.66 million.Globus Medical also updated its FY19 guidance to $1.75 EPS.

A number of equities research analysts recently weighed in on the company. Morgan Stanley set a $45.00 price target on Globus Medical and gave the company a hold rating in a research note on Wednesday, June 5th. Wells Fargo & Co cut Globus Medical from an outperform rating to a market perform rating and dropped their price target for the company from $50.00 to $41.00 in a research note on Friday, May 24th. Zacks Investment Research upgraded Globus Medical from a hold rating to a buy rating and set a $51.00 price target on the stock in a research note on Wednesday, April 24th. Finally, Needham & Company LLC restated a buy rating and issued a $56.00 price target (up previously from $52.00) on shares of Globus Medical in a research note on Friday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $54.90.

NYSE GMED traded up $3.71 on Friday, reaching $50.10. The stock had a trading volume of 3,179,893 shares, compared to its average volume of 530,458. The stock’s fifty day moving average is $42.48. Globus Medical has a 1-year low of $38.01 and a 1-year high of $57.83. The stock has a market capitalization of $4.51 billion, a P/E ratio of 30.00, a P/E/G ratio of 2.33 and a beta of 0.89.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, August 1st. The medical device company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Globus Medical had a return on equity of 14.09% and a net margin of 20.81%. The firm had revenue of $150.55 million for the quarter, compared to analyst estimates of $184.93 million. During the same period in the prior year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that Globus Medical will post 1.72 earnings per share for the current fiscal year.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

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Earnings History and Estimates for Globus Medical (NYSE:GMED)

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