Globus Medical (NYSE:GMED) Updates FY 2025 Earnings Guidance

Globus Medical (NYSE:GMED) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.400-3.500 for the period, compared to the consensus earnings per share estimate of 3.420. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Globus Medical also updated its FY 2024 guidance to EPS.

Analysts Set New Price Targets

Several analysts recently commented on GMED shares. Truist Financial raised their target price on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. BTIG Research lifted their target price on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Royal Bank of Canada increased their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Piper Sandler upped their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group lifted their price target on Globus Medical from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.55.

Globus Medical Stock Up 3.5 %

Shares of NYSE GMED traded up $2.89 during midday trading on Wednesday, hitting $86.34. The stock had a trading volume of 1,473,717 shares, compared to its average volume of 993,656. Globus Medical has a 1 year low of $49.33 and a 1 year high of $87.22. The company has a market capitalization of $11.76 billion, a PE ratio of 128.87, a P/E/G ratio of 1.97 and a beta of 1.19. The stock has a 50 day simple moving average of $82.33 and a 200-day simple moving average of $74.86.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm’s quarterly revenue was up 63.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, analysts expect that Globus Medical will post 2.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the transaction, the director now directly owns 536,275 shares in the company, valued at $40,242,076. The trade was a 5.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Insiders have sold 97,500 shares of company stock valued at $7,674,950 in the last ninety days. 18.54% of the stock is currently owned by corporate insiders.

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.