Earnings results for Globus Medical (NYSE:GMED)
Globus Medical, Inc. is expected* to report earnings on 10/28/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 8 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.31. The reported EPS for the same quarter last year was $0.43.
Globus Medical last posted its earnings results on August 5th, 2020. The medical device company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.18. The business earned $148.92 million during the quarter, compared to analyst estimates of $99.77 million. Globus Medical has generated $1.68 earnings per share over the last year and currently has a price-to-earnings ratio of 59.6. Globus Medical has confirmed that its next quarterly earnings report will be published on Wednesday, October 28th, 2020.
Analyst Opinion on Globus Medical (NYSE:GMED)
14 Wall Street analysts have issued ratings and price targets for Globus Medical in the last 12 months. Their average twelve-month price target is $59.86, predicting that the stock has a possible upside of 16.77%. The high price target for GMED is $67.00 and the low price target for GMED is $53.00. There are currently 4 hold ratings and 10 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Globus Medical has received a consensus rating of Buy. The company’s average rating score is 2.71, and is based on 10 buy ratings, 4 hold ratings, and no sell ratings. According to analysts’ consensus price target of $59.86, Globus Medical has a forecasted upside of 16.8% from its current price of $51.26. Globus Medical has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Globus Medical (NYSE:GMED)
Globus Medical does not currently pay a dividend. Globus Medical does not have a long track record of dividend growth.
Insiders buying/selling: Globus Medical (NYSE:GMED)
In the past three months, Globus Medical insiders have sold 860.77% more of their company’s stock than they have bought. Specifically, they have bought $33,136.00 in company stock and sold $318,360.00 in company stock. Only 25.63% of the stock of Globus Medical is held by insiders. 66.58% of the stock of Globus Medical is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Globus Medical (NYSE:GMED
Earnings for Globus Medical are expected to grow by 73.21% in the coming year, from $1.12 to $1.94 per share. The P/E ratio of Globus Medical is 59.60, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 19.17. The P/E ratio of Globus Medical is 59.60, which means that it is trading at a more expensive P/E ratio than the Medical sector average P/E ratio of about 28.90. Globus Medical has a PEG Ratio of 3.75. PEG Ratios above 1 indicate that a company could be overvalued. Globus Medical has a P/B Ratio of 3.65. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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