Globus Medical Inc (NYSE:GMED) – Investment analysts at Leerink Swann increased their FY2017 EPS estimates for shares of Globus Medical in a research note issued on Thursday. Leerink Swann analyst R. Newitter now expects that the medical device company will post earnings of $1.29 per share for the year, up from their prior forecast of $1.27. Leerink Swann also issued estimates for Globus Medical’s Q4 2017 earnings at $0.36 EPS, Q1 2018 earnings at $0.36 EPS, Q2 2018 earnings at $0.37 EPS and Q3 2018 earnings at $0.37 EPS.

A number of other research firms also recently issued reports on GMED. Wells Fargo & Co reiterated an “outperform” rating and set a $51.00 price objective (up from $46.00) on shares of Globus Medical in a research note on Wednesday, January 10th. Barclays reiterated a “sell” rating and set a $36.00 price objective on shares of Globus Medical in a research note on Wednesday, January 10th. Zacks Investment Research upgraded shares of Globus Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research note on Tuesday, January 2nd. Finally, BTIG Research set a $45.00 price objective on shares of Globus Medical and gave the company a “buy” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. Globus Medical currently has a consensus rating of “Buy” and an average target price of $40.57.

Globus Medical (NYSE GMED) opened at $43.66 on Monday. The company has a market cap of $4,207.78, a P/E ratio of 34.93, a PEG ratio of 2.92 and a beta of 0.56. Globus Medical has a 1 year low of $25.67 and a 1 year high of $46.51.

Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.30. The business had revenue of $151.74 million for the quarter, compared to analyst estimates of $150.73 million. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share.

In other Globus Medical news, President Anthony L. Williams sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $38.30, for a total value of $574,500.00. Following the completion of the sale, the president now directly owns 15,000 shares in the company, valued at $574,500. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Steven Payne sold 3,076 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.30, for a total transaction of $120,886.80. Following the completion of the sale, the chief accounting officer now owns 23,847 shares of the company’s stock, valued at $937,187.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,908 shares of company stock worth $4,747,975. Insiders own 28.21% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Globus Medical by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after buying an additional 35 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Globus Medical by 2.0% in the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after buying an additional 68 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Globus Medical by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock worth $179,000 after buying an additional 808 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Globus Medical by 2.8% in the second quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock worth $197,000 after buying an additional 161 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Globus Medical in the third quarter worth $177,000. Institutional investors own 70.24% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was published by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.watchlistnews.com/globus-medical-inc-gmed-expected-to-earn-fy2017-earnings-of-1-29-per-share/1808892.html.

Globus Medical Company Profile

Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with Analyst Ratings Network's FREE daily email newsletter.