Q2 EPS Estimates for Globus Medical Decreased by Analyst

Globus Medical, Inc. (NYSE:GMED - Free Report) - Zacks Research decreased their Q2 2027 earnings estimates for shares of Globus Medical in a research note issued to investors on Monday, June 30th. Zacks Research analyst R. Department now forecasts that the medical device company will post earnings of $1.07 per share for the quarter, down from their prior forecast of $1.08. The consensus estimate for Globus Medical's current full-year earnings is $3.44 per share.

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

GMED has been the topic of a number of other reports. Barclays reissued an "overweight" rating on shares of Globus Medical in a research report on Tuesday, June 10th. Wall Street Zen raised Globus Medical from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. BTIG Research restated a "neutral" rating on shares of Globus Medical in a report on Tuesday, May 27th. Piper Sandler reduced their target price on Globus Medical from $100.00 to $80.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Globus Medical Price Performance

Shares of GMED traded down $1.47 during midday trading on Wednesday, hitting $59.10. The stock had a trading volume of 1,813,263 shares, compared to its average volume of 1,132,721. The stock's 50 day moving average is $61.66 and its 200 day moving average is $74.00. The firm has a market cap of $8.00 billion, a PE ratio of 44.10, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. Globus Medical has a 1 year low of $54.48 and a 1 year high of $94.93.

Globus Medical announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 15th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the medical device company to buy up to 6.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Globus Medical

Several institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new position in Globus Medical in the fourth quarter worth about $27,000. Farther Finance Advisors LLC raised its stake in shares of Globus Medical by 145.5% during the 1st quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company's stock worth $30,000 after acquiring an additional 240 shares in the last quarter. Larson Financial Group LLC lifted its position in 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 acquiring an additional 393 shares during the last quarter. Parallel Advisors LLC boosted its stake in Globus Medical by 62.1% in the first quarter. Parallel Advisors LLC now owns 504 shares of the medical device company's stock valued at $37,000 after acquiring an additional 193 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Globus Medical by 932.1% in the first quarter. Versant Capital Management Inc now owns 547 shares of the medical device company's stock worth $40,000 after purchasing an additional 494 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other 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.