Wall Street analysts forecast that Globus Medical (GMED) will report quarterly earnings of $0.76 per share in its upcoming release, pointing to a year-over-year increase of 1.3%. It is anticipated that revenues will amount to $741.7 million, exhibiting an increase of 17.8% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Globus Medical metrics that are commonly tracked and projected by analysts on Wall Street.
The average prediction of analysts places 'Net Sales by Product Category- Enabling Technologies' at $37.43 million. The estimate suggests a change of +1.8% year over year.
The consensus estimate for 'Net Sales by Product Category- Musculoskeletal Solutions' stands at $679.67 million. The estimate indicates a year-over-year change of +14.6%.
It is projected by analysts that the 'Geographic Revenues- International' will reach $140.52 million. The estimate points to a change of +7.9% from the year-ago quarter.
The consensus among analysts is that 'Geographic Revenues- United States' will reach $586.71 million. The estimate suggests a change of +17.5% year over year.
View all Key Company Metrics for Globus Medical here>>>
Shares of Globus Medical have experienced a change of -5.2% in the past month compared to the +0.5% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), GMED is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Globus Medical, Inc. (GMED): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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