Globus Medical (NYSE:GMED) updated its FY20 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.92. The company issued revenue guidance of $850.00 million, compared to the consensus revenue estimate of $854.27 million.Globus Medical also updated its FY 2019
After-Hours guidance to EPS.
Several equities analysts recently weighed in on the stock. ValuEngine lowered shares of Globus Medical from a buy rating to a hold rating in a report on Tuesday, December 3rd. Cantor Fitzgerald restated a buy rating and issued a $64.00 price objective on shares of Globus Medical in a report on Thursday, January 9th. Zacks Investment Research upgraded shares of Globus Medical from a hold rating to a buy rating and set a $61.00 price objective on the stock in a report on Friday, December 13th. UBS Group increased their price objective on shares of Globus Medical from $61.00 to $67.00 and gave the company a buy rating in a report on Wednesday, December 18th. Finally, Credit Suisse Group increased their price objective on shares of Globus Medical from $59.00 to $67.00 and gave the company an outperform rating in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $64.00.
NYSE:GMED traded up $0.26 during trading hours on Thursday, hitting $53.12. The stock had a trading volume of 6,262 shares, compared to its average volume of 472,052. Globus Medical has a one year low of $38.37 and a one year high of $60.15. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.70 and a beta of 0.96. The business’s 50 day moving average is $57.31 and its 200-day moving average is $51.28.
In related news, Director David D. Davidar sold 38,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $54.00, for a total transaction of $2,052,000.00. Following the completion of the transaction, the director now owns 666,775 shares in the company, valued at $36,005,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kelly Huller sold 3,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $52.90, for a total transaction of $158,700.00. Following the transaction, the senior vice president now owns 6,384 shares of the company’s stock, valued at approximately $337,713.60. The disclosure for this sale can be found here. Insiders sold 50,460 shares of company stock valued at $2,758,894 in the last ninety days. Insiders own 24.97% of the company’s stock.
About Globus Medical
Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.
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