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

• Globus Medical Inc GMED.N reported quarterly adjusted earnings of 86 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 75 cents. The mean expectation of fifteen analysts for the quarter was for earnings of 76 cents per share. Wall Street expected results to range from 72 cents to 82 cents per share.

• Revenue rose 18.4% to $745.34 million from a year ago; analysts expected $741.81 million.

• Globus Medical Inc's reported EPS for the quarter was $1.49​.

• The company reported quarterly net income of $202.85 million.

• Globus Medical Inc shares had fallen by 10.5% this quarter and lost 36.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 5.2% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy," 6 "hold" and no "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 $80.00, about 32.4% above its last closing price of $54.07

This summary was machine generated from LSEG data August 8 at 04:25 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)