Globus Medical jumps on annual profit forecast raise

Globus Medical

06/11/2024 12:04

** Shares of medical device maker Globus Medical  GMED.N 
rise 12.5% to $85.06 premarket 
    ** GMED, late on Tuesday, forecast annual adj. profit per
share to be between $2.90 and $3.00, vs its previous expectation
of $2.80 to $2.90
    ** Company's Q3 adj. profit of 83 cents/shr beats analysts'
average estimate of 65 cents/shr - LSEG data
    ** GMED's quarterly revenue of $625.7 mln also tops
estimates of $603.9 mln
    ** Up to last close, stock up 41.8% YTD    

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))