Globus Medical (NYSE:GMED) issued its earnings results on Tuesday. The medical device company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.12, MarketWatch Earnings reports. Globus Medical had a return on equity of 9.85% and a net margin of 12.36%. The business had revenue of $227.34 million during the quarter, compared to analysts’ expectations of $196.89 million. During the same period in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Globus Medical updated its FY 2021 guidance to 1.890-1.890 EPS and its FY21 guidance to $1.83-1.89 EPS.
Globus Medical stock traded down $1.52 during midday trading on Tuesday, reaching $69.64. The company’s stock had a trading volume of 460,435 shares, compared to its average volume of 463,434. The stock’s 50-day simple moving average is $65.83 and its 200-day simple moving average is $62.45. Globus Medical has a 52-week low of $42.85 and a 52-week high of $73.05. The stock has a market capitalization of $6.95 billion, a P/E ratio of 75.70, a PEG ratio of 2.89 and a beta of 1.02.
In other news, CEO David M. Demski sold 121,259 shares of the stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $71.59, for a total value of $8,680,931.81. Following the transaction, the chief executive officer now directly owns 21,875 shares of the company’s stock, valued at $1,566,031.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Demski sold 144,263 shares of the stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $71.50, for a total value of $10,314,804.50. Following the completion of the transaction, the chief executive officer now directly owns 21,875 shares in the company, valued at $1,564,062.50. The disclosure for this sale can be found here. Company insiders own 25.63% of the company’s stock.
Globus Medical Company Profile
Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders. Its offers spine products, such as consists of traditional fusion implants, such as 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, such as 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.
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