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

Globus Medical (NYSE:GMED) posted its quarterly earnings results on Thursday. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Trading Up 0.1 %

Shares of NYSE GMED traded up $0.13 during mid-day trading on Thursday, reaching $84.22. 1,142,140 shares of the company’s stock were exchanged, compared to its average volume of 1,245,535. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of 125.69, a PEG ratio of 1.61 and a beta of 1.19. The business has a fifty day simple moving average of $86.73 and a 200 day simple moving average of $78.91. Globus Medical has a twelve month low of $49.33 and a twelve month high of $94.93.

Insider Transactions at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction dated 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 currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GMED shares. Stifel Nicolaus raised their price target on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Canaccord Genuity Group raised their price target on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Roth Mkm raised their price target on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada raised their price target on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and an average target price 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.