Globus Medical (NYSE:GMED) Issues 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 (EPS) guidance of 3.400-3.500 for the period, compared to the consensus 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.

Globus Medical Trading Up 3.5 %

Shares of NYSE GMED opened at $86.34 on Friday. The firm has a market capitalization of $11.76 billion, a PE ratio of 128.87, a PEG ratio of 1.97 and a beta of 1.19. The business has a 50-day moving average price of $82.81 and a two-hundred day moving average price of $75.02. Globus Medical has a one year low of $49.33 and a one year high of $87.22.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. 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 firm posted $0.57 EPS. The firm’s revenue for the quarter was up 63.1% on a year-over-year basis. Research analysts anticipate that Globus Medical will post 2.97 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on GMED. Wells Fargo & Company lifted their price target on shares of Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada lifted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Thursday. Roth Mkm boosted their price target on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Finally, StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.09.

Insider Activity at Globus Medical

In related news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the transaction, the director now owns 536,275 shares of the company’s stock, valued at $40,242,076. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Insiders have sold 97,500 shares of company stock valued at $7,674,950 over the last ninety days. 18.54% of the stock is owned by corporate insiders.

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.