Medical device company Globus Medical (NYSE: GMED) will be reporting earnings this Thursday afternoon. Here’s what you need to know.
Globus Medical beat analysts’ revenue expectations last quarter, reporting revenues of $826.4 million, up 25.7% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates and an impressive beat of analysts’ revenue estimates.
Is Globus Medical a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Globus Medical’s revenue to grow 23.7% year on year, a reversal from the 1.4% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Globus Medical rarely misses Wall Street’s revenue estimates.
Looking at Globus Medical’s peers in the medical devices & supplies - specialty segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bausch + Lomb delivered year-on-year revenue growth of 9.4%, beating analysts’ expectations by 2.2%, and Integer Holdings reported flat revenue, topping estimates by 2.8%. Bausch + Lomb traded up 1.1% following the results while Integer Holdings’s stock price was unchanged.
Read our full analysis of Bausch + Lomb’s results here and Integer Holdings’s results here.
There has been positive sentiment among investors in the medical devices & supplies - specialty segment, with share prices up 6.5% on average over the last month. Globus Medical is up 4.1% during the same time and is heading into earnings with an average analyst price target of $110.08 (compared to the current share price of $92.26).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
