Globus Medical Inc reports results for the quarter ended in June - Earnings Summary

Globus Medical

07/08/2024 09:20

* Globus Medical Inc  GMED.N  reported quarterly adjusted
earnings
of 75 cents​​ per share for the quarter ended in June, higher
than the same quarter last year, when the company reported EPS
of 63 cents.  The mean expectation of sixteen analysts for the
quarter was for earnings of 68 cents per share. Wall Street
expected results to range from 64 cents to 73 cents per share.
    * Revenue rose 115.9% to $629.69 million from a year ago;
analysts
expected $615.34 million. 
    * Globus Medical Inc's reported EPS for the quarter was 23
cents​.
    * The company reported quarterly net income of $31.76
million.
    * Globus Medical Inc shares had risen by 0.8% this
quarter and
gained 29.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 7
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the medical
equipment,
supplies & distribution peer group is also "buy"

Wall Street's median 12-month price target for Globus Medical
Inc is $78.00 
This summary was machine generated from LSEG data August 7 at
08:19 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       0.68           0.75           Beat
 Mar. 31 2024      0.57           0.72           Beat
 Dec. 31 2023      0.61           0.60           Missed
 Sep. 30 2023      0.57           0.57           Met