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

Globus Medical

08/05/2024 16:14

* Globus Medical Inc  GMED.N  reported quarterly adjusted
earnings
of 72 cents​​ per share for the quarter ended in March, higher
than the same quarter last year, when the company reported EPS
of 53 cents.  The mean expectation of sixteen analysts for the
quarter was for earnings of 57 cents per share. Wall Street
expected results to range from 49 cents to 62 cents per share.
    * Revenue rose 119.3% to $606.67 million from a year ago;
analysts
expected $587.14 million. 
    * Globus Medical Inc's reported EPS for the quarter was a
loss
of 5 cents​.
    * The company reported a quarterly loss of $7.12 million.
    * Globus Medical Inc shares had fallen by 4.3% this
quarter and
lost 3.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.7%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 8
"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 $63.00 
This summary was machine generated from LSEG data May 8 at 03:14
p.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
 Mar. 31 2024      0.57           0.72           Beat
 Dec. 31 2023      0.61           0.60           Missed
 Sep. 30 2023      0.57           0.57           Met
 Jun. 30 2023      0.59           0.63           Beat