Globus Medical (NYSE:GMED) Releases Earnings Results, Beats Estimates 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 return on equity of 9.98% and a net margin of 3.69%.

Globus Medical Stock Up 0.1 %

NYSE:GMED traded up $0.13 during trading hours on Thursday, reaching $84.22. The company had a trading volume of 1,142,140 shares, compared to its average volume of 1,245,535. The stock has a 50-day moving average of $86.73 and a two-hundred day moving average of $78.91. Globus Medical has a one year low of $49.33 and a one year high of $94.93. The firm has a market capitalization of $11.47 billion, a PE ratio of 125.69, a PEG ratio of 1.61 and a beta of 1.19.

Insider Buying and Selling at Globus Medical

In other news, 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 transaction of $217,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GMED shares. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company upped their price target on Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Canaccord Genuity Group upped their target price on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Piper Sandler upped their target price on Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.