Globus Medical (GMED) Releases FY 2019 Earnings Guidance

Globus Medical (NYSE:GMED) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.72-1.72 for the period, compared to the Thomson Reuters consensus estimate of $1.72. The company issued revenue guidance of $770-770 million, compared to the consensus revenue estimate of $766.1 million.

NYSE GMED traded up $0.09 during midday trading on Thursday, hitting $47.69. The company had a trading volume of 374,300 shares, compared to its average volume of 755,306. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 36.40, a P/E/G ratio of 2.26 and a beta of 0.82. Globus Medical has a fifty-two week low of $38.01 and a fifty-two week high of $57.83.

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Several analysts have issued reports on GMED shares. Morgan Stanley lowered shares of Globus Medical from an overweight rating to an equal weight rating and decreased their price target for the stock from $64.00 to $49.00 in a research report on Wednesday, January 2nd. ValuEngine lowered shares of Globus Medical from a strong-buy rating to a buy rating in a research report on Wednesday, November 28th. Cantor Fitzgerald set a $60.00 price target on shares of Globus Medical and gave the stock a buy rating in a research report on Friday, January 18th. Zacks Investment Research lowered shares of Globus Medical from a buy rating to a hold rating in a research report on Tuesday, January 8th. Finally, UBS Group began coverage on shares of Globus Medical in a research report on Wednesday, November 28th. They set a neutral rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $56.08.

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Globus Medical Company Profile

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 an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.

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