Globus Medical (NYSE:GMED) Releases Earnings Results, Beats Expectations By $0.10 EPS

Globus Medical (NYSE:GMED) issued its quarterly earnings results on Thursday. The medical device company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10, Zacks reports. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%.

Globus Medical Trading Up 0.1 %

GMED stock traded up $0.13 during mid-day trading on Thursday, reaching $84.22. 1,142,140 shares of the stock traded hands, compared to its average volume of 1,245,535. The company has a market cap of $11.47 billion, a P/E ratio of 125.69, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical has a 52-week low of $49.33 and a 52-week high of $94.93. The stock’s fifty day moving average is $86.73 and its 200-day moving average is $78.91.

Analyst Upgrades and Downgrades

GMED has been the subject of a number of recent research reports. BTIG Research lifted their price target on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Canaccord Genuity Group boosted their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. StockNews.com upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Insider Activity

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction that occurred 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.

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.