Zacks Research Forecasts Weaker Earnings for Globus Medical

Globus Medical, Inc. (NYSE:GMED) – Equities researchers at Zacks Research cut their Q2 2027 earnings estimates for Globus Medical in a research note issued to investors on Monday, June 30th. Zacks Research analyst R. Department now expects that the medical device company will earn $1.07 per share for the quarter, down from their previous estimate of $1.08. The consensus estimate for Globus Medical’s current full-year earnings is $3.44 per share.

GMED has been the topic of a number of other research reports. Truist Financial lowered their price target on Globus Medical from $80.00 to $68.00 and set a “hold” rating on the stock in a research report on Monday, May 12th. JMP Securities reissued a “market perform” rating on shares of Globus Medical in a report on Tuesday, May 27th. BTIG Research restated a “neutral” rating on shares of Globus Medical in a research report on Tuesday, May 27th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. Finally, Barclays reissued an “overweight” rating on shares of Globus Medical in a research note on Tuesday, June 10th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Globus Medical Stock Performance

NYSE GMED opened at $59.10 on Wednesday. Globus Medical has a 52-week low of $54.48 and a 52-week high of $94.93. The company has a fifty day moving average of $61.66 and a 200-day moving average of $74.00. The company has a market capitalization of $8.00 billion, a P/E ratio of 44.10, a P/E/G ratio of 1.76 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, May 8th. The medical device company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The company had revenue of $598.12 million during the quarter, compared to analysts’ expectations of $629.74 million. Globus Medical had a return on equity of 10.52% and a net margin of 7.39%. Globus Medical’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS.

Globus Medical announced that its board has authorized a stock repurchase plan on Thursday, May 15th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to buy up to 6.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Globus Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GMED. SBI Securities Co. Ltd. purchased a new position in Globus Medical during the 4th quarter valued at about $27,000. Farther Finance Advisors LLC grew its position in shares of Globus Medical by 145.5% in the 1st quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company’s stock worth $30,000 after buying an additional 240 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Globus Medical by 1,007.7% during the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock valued at $32,000 after buying an additional 393 shares during the period. Parallel Advisors LLC increased its stake in shares of Globus Medical by 62.1% during the first quarter. Parallel Advisors LLC now owns 504 shares of the medical device company’s stock valued at $37,000 after buying an additional 193 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Globus Medical by 932.1% during the first quarter. Versant Capital Management Inc now owns 547 shares of the medical device company’s stock valued at $40,000 after acquiring an additional 494 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

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.