Wall Street analysts forecast that Globus Medical (GMED) will report quarterly earnings of $0.79 per share in its upcoming release, pointing to a year-over-year decline of 4.8%. It is anticipated that revenues will amount to $733.45 million, exhibiting an increase of 17.2% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Globus Medical metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Net Sales by Product Category- Enabling Technologies' to come in at $40.23 million. The estimate indicates a year-over-year change of +5%.
The consensus among analysts is that 'Net Sales by Product Category- Musculoskeletal Solutions' will reach $693.98 million. The estimate indicates a change of +18.1% from the prior-year quarter.
The average prediction of analysts places 'Geographic Revenues- International' at $144.37 million. The estimate points to a change of +11.1% from the year-ago quarter.
Analysts forecast 'Geographic Revenues- United States' to reach $589.84 million. The estimate indicates a change of +19% from the prior-year quarter.
View all Key Company Metrics for Globus Medical here>>>
Globus Medical shares have witnessed a change of +4% in the past month, in contrast to the Zacks S&P 500 composite's +1% move. With a Zacks Rank #3 (Hold), GMED is expected closely follow the overall market performance in the near term. 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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