Revenue Update on Globus Medical Inc(NYSE:GMED)

Globus Medical Inc(NYSE:GMED) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $137.49M. Analysts estimated a revenue of $141.97M. Earnings per share were $0.29. Analysts had estimated an EPS of $0.29.

In a different note, Barclays said it Initiates Coverage on Globus Medical Inc, according to a research note issued on May 27, 2016. The shares have been rated ‘Equal-weight’ by the firm. On May 16, 2016, Goldman Sachs said it Downgrades its rating on Globus Medical Inc. In the research note, the firm Lowers the price-target to $26.00 per share. The shares have been rated ‘Sell’ by the firm.

Globus Medical Inc (GMED) made into the market gainers list on Fridays trading session with the shares advancing 2.09% or 0.47 points. Due to strong positive momentum, the stock ended at $22.95, which is also near the day’s high of $23.06. The stock began the session at $22.45 and the volume stood at 10,50,469 shares. The 52-week high of the shares is $28.99 and the 52 week low is $20.48. The company has a current market capitalization of $2,195 M and it has 9,56,54,764 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jan 6, 2016, Robert Liptak (director) sold 15,300 shares at $27.50 per share price.Also, On Jan 6, 2016, Kurt Wheeler (director) sold 15,300 shares at $27.50 per share price.On Nov 18, 2015, A Brett Murphy (Group President, Commerical Op) sold 5,000 shares at $25.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Globus Medical Inc. is a medical device company. The Company is focused on developing products for patients with musculoskeletal disorders and spine disorders. Its products consist of two categories: Innovative Fusion and Disruptive Technologies. Innovative Fusion products comprise fusion products to treat various spinal disorders for the entire spine and can be used in various surgical approaches. Disruptive Technologies represents a shift in the treatment of spinal disorders by allowing for surgical procedures and the treatment of spinal disorders. The Company’s portfolio of Disruptive Technology products includes products that allow for minimally invasive surgical (MIS) techniques as well as treatment alternatives including motion preservation technologies such as dynamic stabilization total disc replacement and interspinous process spacer products and biomaterials technologies as well as interventional pain management solutions.

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