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

Globus Medical (NYSE:GMED) announced its quarterly earnings data on Thursday. The medical device company reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 opened at $84.22 on Friday. Globus Medical has a twelve month low of $49.33 and a twelve month high of $94.93. The company has a market capitalization of $11.47 billion, a P/E ratio of 125.69, a PEG ratio of 1.60 and a beta of 1.19. The firm has a 50 day simple moving average of $86.76 and a 200-day simple moving average of $78.94.

Insider Transactions at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were 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 this link. Also, SVP Kelly Huller sold 2,500 shares of Globus Medical 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 disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GMED shares. StockNews.com upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Royal Bank of Canada raised their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Truist Financial raised their price target on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Finally, Wells Fargo & Company raised their price target on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average 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.