Globus Medical gains on Q1 beat, forecast raise

Globus Medical

08/05/2024 14:53

** Shares of medical device company Globus Medical  GMED.N 
gain 21% to $62.14
    ** Company late on Tuesday reported Q1 revenue of $606.7
million, vs LSEG estimates of $587.1 million
    ** Posts quarterly adj. profit of 72 cents per share,
compared with analysts' estimates of 57 cents
    ** Expects 2024 revenue in the range of $2.46 billion to
$2.49 billion, vs prior forecast of $2.45 billion to $2.48
billion
    ** GMED sees adj. profit per share for the year to be
between $2.75 and $2.85, vs prior expectation of $2.68 to $2.70
    ** Stock down 3.62% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))