Wall Street analysts forecast that Globus Medical (GMED) will report quarterly earnings of $1.06 per share in its upcoming release, pointing to a year-over-year increase of 26.2%. It is anticipated that revenues will amount to $787.85 million, exhibiting an increase of 19.9% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during 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 investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Globus Medical metrics that Wall Street analysts commonly model and monitor.
It is projected by analysts that the 'Net Sales by Product Category- Enabling Technologies' will reach $33.70 million. The estimate indicates a change of -28.2% from the prior-year quarter.
The average prediction of analysts places 'Net Sales by Product Category- Musculoskeletal Solutions' at $735.95 million. The estimate suggests a change of +20.6% year over year.
The collective assessment of analysts points to an estimated 'Geographic Revenues- International' of $147.72 million. The estimate suggests a change of +9.1% year over year.
The consensus among analysts is that 'Geographic Revenues- United States' will reach $621.92 million. The estimate points to a change of +19.2% from the year-ago quarter.
View all Key Company Metrics for Globus Medical here>>>
Globus Medical shares have witnessed a change of -4.3% in the past month, in contrast to the Zacks S&P 500 composite's -0.8% move. With a Zacks Rank #2 (Buy), GMED is expected outperform 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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