Globus Medical (NYSE:GMED – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.10-$2.10 for the period, compared to the consensus earnings per share estimate of $2.10. The company issued revenue guidance of $1.02 billion-$1.02 billion, compared to the consensus revenue estimate of $1.03 billion.
NYSE:GMED opened at $66.00 on Tuesday. The company has a fifty day simple moving average of $70.13 and a two-hundred day simple moving average of $69.57. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 48.53, a price-to-earnings-growth ratio of 2.76 and a beta of 1.11. Globus Medical has a 52 week low of $57.21 and a 52 week high of $84.23.
Globus Medical (NYSE:GMED – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The medical device company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.05). The business had revenue of $230.55 million during the quarter, compared to analyst estimates of $232.88 million. Globus Medical had a return on equity of 11.95% and a net margin of 14.77%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. As a group, research analysts expect that Globus Medical will post 2.1 earnings per share for the current fiscal year.
This guide will help you identify and execute an options trading strategy that fits your specific needs and risk profile.
Take your trading to the next level with the Options Strategy Guide.
Several equities analysts have commented on GMED shares. Zacks Investment Research downgraded shares of Globus Medical from a buy rating to a hold rating and set a $70.00 price target for the company. in a research note on Tuesday, February 22nd. StockNews.com initiated coverage on shares of Globus Medical in a research note on Thursday, March 31st. They set a hold rating for the company. Morgan Stanley lowered their target price on shares of Globus Medical from $82.00 to $74.00 and set an equal weight rating for the company in a research note on Tuesday, February 22nd. Canaccord Genuity Group lowered their target price on shares of Globus Medical from $80.00 to $75.00 in a research note on Wednesday, May 11th. Finally, Wells Fargo & Company lowered their target price on shares of Globus Medical from $80.00 to $70.00 in a research note on Wednesday, May 11th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Globus Medical has a consensus rating of Buy and a consensus price target of $83.31.
In other news, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $75.58, for a total value of $188,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Tobin sold 4,484 shares of the company’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $72.00, for a total transaction of $322,848.00. The disclosure for this sale can be found here. Insiders sold 48,484 shares of company stock valued at $3,670,143 in the last 90 days. 24.75% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd increased its holdings in Globus Medical by 86.5% in the first quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock valued at $58,000 after buying an additional 364 shares in the last quarter. Pearl River Capital LLC purchased a new position in Globus Medical in the first quarter valued at about $205,000. NewEdge Advisors LLC purchased a new position in Globus Medical in the fourth quarter valued at about $229,000. XTX Topco Ltd purchased a new position in Globus Medical in the first quarter valued at about $293,000. Finally, MML Investors Services LLC increased its holdings in Globus Medical by 9.8% in the fourth quarter. MML Investors Services LLC now owns 4,456 shares of the medical device company’s stock valued at $322,000 after buying an additional 399 shares in the last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.
About Globus Medical (Get Rating)
Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. It offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative, deformity, tumors, and trauma conditions; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional pain management solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Globus Medical right now?
Before you consider Globus Medical, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Globus Medical wasn’t on the list.
While Globus Medical currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
from NYSE Updates – My Blog https://ift.tt/njf4w3u
via IFTTT
No comments:
Post a Comment