Globus Medical FY2024 EPS Estimate Boosted by Roth Capital

Globus Medical, Inc. (NYSE:GMED) – Roth Capital lifted their FY2024 EPS estimates for Globus Medical in a research report issued on Friday, January 10th. Roth Capital analyst J. Wittes now anticipates that the medical device company will earn $3.03 per share for the year, up from their previous forecast of $3.00. The consensus estimate for Globus Medical’s current full-year earnings is $2.97 per share. Roth Capital also issued estimates for Globus Medical’s Q4 2024 earnings at $0.82 EPS, Q2 2025 earnings at $0.86 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.50 EPS, FY2026 earnings at $4.33 EPS and FY2027 earnings at $4.80 EPS.

Several other research firms also recently weighed in on GMED. Piper Sandler boosted their price target on Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their target price on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial lifted their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Thursday, January 9th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

Globus Medical Price Performance

NYSE GMED opened at $88.00 on Monday. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 131.34, a PEG ratio of 1.97 and a beta of 1.19. The stock’s fifty day moving average price is $83.55 and its 200 day moving average price is $75.53. Globus Medical has a 1 year low of $49.33 and a 1 year high of $90.48.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The business had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the prior year, the business posted $0.57 EPS. Globus Medical’s revenue for the quarter was up 63.1% compared to the same quarter last year.

Insider Buying and Selling at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,667 shares of company stock valued at $6,674,554. Corporate insiders own 18.54% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Coldstream Capital Management Inc. grew its holdings in Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after buying an additional 131 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Globus Medical by 3.4% during the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock valued at $303,000 after acquiring an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock valued at $403,000 after purchasing an additional 140 shares during the period. Central Pacific Bank Trust Division increased its position in Globus Medical by 6.2% during the third quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock worth $268,000 after purchasing an additional 220 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Globus Medical by 1.5% during the second quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company’s stock worth $1,044,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

About Globus Medical

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.