Globus Medical Inc reports results for the quarter ended in September 30 - Earnings Summary

Globus Medical

06/11/2024 04:33

* Globus Medical Inc  GMED.N  reported quarterly adjusted
earnings
of 83 cents​​ per share for the quarter ended September 30,
higher than the same quarter last year, when the company
reported EPS of 57 cents.  The mean expectation of
sixteen analysts for the quarter was for earnings of 65 cents
per share. Wall Street expected results to range from 59 cents
to 68 cents per share.
    * Revenue rose 63.1% to $625.71 million from a year ago;
analysts
expected $603.93 million. 
    * Globus Medical Inc's reported EPS for the quarter was 38
cents​.
    * The company reported quarterly net income of $51.84
million.
    * Globus Medical Inc shares had risen by 4.4% this
quarter and
gained 40.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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 10 "strong buy" or "buy," 5
"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 $87.50 
This summary was machine generated from LSEG data November 6 at
04:33 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
 Sep. 30 2024      0.65           0.83           Beat
 Jun. 30 2024      0.68           0.75           Beat
 Mar. 31 2024      0.57           0.72           Beat
 Dec. 31 2023      0.61           0.60           Missed