The analysts covering Globus Medical, Inc. (NYSE:GMED) delivered a dose of negativity to shareholders today, by making...
AUDUBON, Pa., May 07, 2020 -- Globus Medical, Inc. (NYSE: GMED), a leading musculoskeletal solutions company, today announced its financial results for the first quarter ended.
Globus Medical, Inc. (GMED), a leading musculoskeletal solutions company, will announce its financial results for the first quarter ended March 31, 2020 after the market close on Thursday, May 7, 2020. A copy of the release will be available on the Globus Medical website at www.globusmedical.com/investors. Following the announcement, Globus Medical will hold a teleconference to discuss its performance with the investment community at 4:30 p.m. Eastern Time.
Globus Medical (GMED) registers impressive growth within U.S. Spine on record recruiting of competitive representatives in Q4.
Dave Demski has been the CEO of Globus Medical, Inc. (NYSE:GMED) since 2017. This analysis aims first to contrast CEO...
Globus Medical (GMED) delivered earnings and revenue surprises of -5.77% and 0.32%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Globus Medical Inc's (NYSE: GMED) shares have declined around 33% from their year-end 2019 high, and the company has a strong balance sheet that can be used to acquire assets at depressed values, according to BTIG.The Globus Medical Analyst BTIG's Ryan Zimmerman upgraded Globus Medical from Neutral to Buy and set a $46 price target. The Globus Medical Thesis Globus Medical's installed base is approaching 100 units, a scale at which "implant pull-through will support sizable hardware growth," Zimmerman said in the Wednesday upgrade note. (See his track record here.)Coronavirus-induced uncertainties could prevent a near-term rebound in shares, and there may be low demand for spine procedures in the first half of 2020, with people opting out of elective procedures, the analyst said. Even with multiple weeks of lost revenue, Globus Medical could generate low double-digit earnings growth in fiscal 2021 as procedures are postponed, he said. The company is transitioning to a broader musculoskeletal business and could continue to feel margin pressure as it makes investments in this transition, Zimmerman said.Despite margin pressure, the company's operating profile is significantly stronger than that of its peers, the analyst said. Globus Medical has around $721 million in cash, no debt and a share buyback authorization of $200 million, according to BTIG.With these in place, the balance sheet gives the company shelter through the first half of 2020, Zimmerman said, adding that the company could use its balance sheet strength to acquire assets at depressed levels.Globus Medical Price Action Globus Medical shares were down 4.66% at $38.03 at the time of publication Wednesday. Related Links:Benzinga's Top Upgrades, Downgrades For March 18, 2020Stocks That Hit 52-Week Lows On ThursdayLatest Ratings for GMED DateFirmActionFromTo Mar 2020BTIGUpgradesNeutralBuy Mar 2020Credit SuisseMaintainsOutperform Jan 2020SunTrust Robinson HumphreyInitiates Coverage OnBuy View More Analyst Ratings for GMED View the Latest Analyst RatingsSee more from Benzinga * Kratos A Leader In Combat Drone Market, Benchmark Says In Bullish Initiation * CV Sciences Analyst Remains Bullish On CBD Company Despite Q4 Miss * BofA Downgrades American Express On Increased Uncertainty(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ladies and gentlemen, thank you for standing by and welcome to Globus Medical's First Quarter 2020 Earnings conference call. Thank you, I'll now turn the call over to Mr. Brian Kearns, Senior VP of Investor Relations. Joining us for today's call from Globus Medical will be Dave Demski, President and CEO; Dan Scavilla, Executive Vice President, Chief Commercial Officer and Keith Pfeil, Senior Vice President and Chief Financial Officer.
Q4 2019 Globus Medical Inc Earnings Call
Q1 2020 Globus Medical Inc Earnings Call
Globus Medical (GMED) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Upgrades * Morgan Stanley changed the rating for Paychex Inc (NASDAQ: PAYX) from Underweight to Equal-Weight. Paychex earned $0.70 in the second quarter, compared to $0.65 in the year-ago quarter. The stock has a 52-week-high of $90.53 and a 52-week-low of $54.48. Paychex's stock last closed at $60.79 per share. * BTIG changed the rating for Globus Medical Inc (NYSE: GMED) from Neutral to Buy. In the fourth quarter, Globus Medical showed an EPS of $0.49, compared to $0.43 from the year-ago quarter. The stock has a 52-week-high of $60.15 and a 52-week-low of $33.41. Globus Medical's stock last closed at $39.97 per share. * Susquehanna changed the rating for MGM Resorts International (NYSE: MGM) from Negative to Neutral. In the fourth quarter, MGM Resorts Intl earned $0.08. The stock has a 52-week-high of $34.63 and a 52-week-low of $9.00. MGM Resorts Intl's stock last closed at $9.54 per share. * B of A Securities changed the rating for Central Garden & Pet Co (NASDAQ: CENT) from Neutral to Buy. In the first quarter, Central Garden & Pet showed an EPS of ($0.08), compared to $0.03 from the year-ago quarter. The stock has a 52-week-high of $34.69 and a 52-week-low of $22.40. Central Garden & Pet's stock last closed at $29.65 per share. * For The Hershey Co (NYSE: HSY), Credit Suisse upgraded the stock from Neutral to Outperform. For the fourth quarter, Hershey had an EPS of $1.28, compared to year-ago quarter EPS of $1.26. The stock has a 52-week-high of $162.20 and a 52-week-low of $108.95. Hershey's stock last closed at $138.94 per share. * UBS changed the rating for Caterpillar Inc (NYSE: CAT) from Sell to Neutral. For the fourth quarter, Caterpillar had an EPS of $2.63, compared to year-ago quarter EPS of $2.55. The stock has a 52-week-high of $150.55 and a 52-week-low of $87.50. Caterpillar's stock last closed at $100.20 per share. * Dougherty & Co. changed the rating for NextGen Healthcare Inc (NASDAQ: NXGN) from Neutral to Buy. In the third quarter, NextGen Healthcare showed an EPS of $0.23, compared to $0.20 from the year-ago quarter. The stock has a 52-week-high of $21.12 and a 52-week-low of $5.10. NextGen Healthcare's stock last closed at $6.15 per share. * For Change Healthcare Inc (NASDAQ: CHNG), Raymond James upgraded the stock from Outperform to Strong Buy. Interestingly, in the third quarter, Change Healthcare's EPS was $0.33. The stock has a 52-week-high of $17.57 and a 52-week-low of $6.67. Change Healthcare's stock last closed at $7.78 per share. Downgrades * Morgan Stanley changed the rating for Monster Beverage Corp (NASDAQ: MNST) from Overweight to Equal-Weight. For the fourth quarter, Monster Beverage had an EPS of $0.47, compared to year-ago quarter EPS of $0.43. The stock has a 52-week-high of $70.52 and a 52-week-low of $52.23. Monster Beverage's stock last closed at $59.74 per share. * B. Riley FBR downgraded the stock for Sinclair Broadcast Group Inc (NASDAQ: SBGI) from Buy to Neutral. Sinclair Broadcast Group earned $0.94 in the fourth quarter, compared to $2.13 in the year-ago quarter. The stock has a 52-week-high of $66.57 and a 52-week-low of $10.94. Sinclair Broadcast Group's stock last closed at $13.54 per share.See more from Benzinga * Recap: Qutoutiao Q4 Earnings * Contura Energy: Q4 Earnings Insights * 11 Technology Stocks Moving In Wednesday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Yes, it's been a rough year for Globus Medical (NYSE: GMED). Globus announced its first-quarter results after the market closed on Thursday. Globus Medical reported first-quarter revenue of $190.6 million, up 4.2% year over year.
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
Globus Medical (GMED) witnesses around $20 million of COVID-19 related adverse impact on its Q1 sales.
Globus Medical, Inc. (GMED), a leading musculoskeletal solutions company, today announced the Board of Directors authorized the repurchase of $200 million of the Company’s common stock. “We believe the recent stock market volatility has created a significant divergence between the intrinsic value of Globus Medical and its value in the market,” said David Paul, Executive Chairman. The timing and actual number of shares repurchased will be determined by management at its discretion and will depend on a variety of factors, including market price of the shares, general business and market conditions, applicable legal requirements, and alternative investment opportunities.
Globus Medical (GMED) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Unfortunately for some shareholders, the Globus Medical (NYSE:GMED) share price has dived 31% in the last thirty days...
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