Globus Medical (NYSE:GMED) Updates FY 2025 Earnings Guidance

Globus Medical (NYSE:GMED) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.400-3.500 for the period, compared to the consensus earnings per share estimate of 3.420. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Globus Medical also updated its FY 2024 guidance to EPS.

Globus Medical Stock Up 3.5 %

Shares of GMED traded up $2.89 during midday trading on Wednesday, hitting $86.34. The company had a trading volume of 1,473,717 shares, compared to its average volume of 993,656. The stock has a market cap of $11.76 billion, a price-to-earnings ratio of 128.87, a PEG ratio of 1.97 and a beta of 1.19. The company’s 50 day moving average price is $82.33 and its 200 day moving average price is $74.86. Globus Medical has a 52 week low of $49.33 and a 52 week high of $87.22.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. During the same period last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. Equities analysts anticipate that Globus Medical will post 2.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GMED shares. Canaccord Genuity Group raised their price objective on Globus Medical from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. Roth Mkm raised their target price on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada lifted their target price on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.55.

Insider Transactions at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the transaction, the director now owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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. Over the last three months, insiders sold 97,500 shares of company stock worth $7,674,950. 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.