Globus Medical: 3Q Earnings Snapshot
AUDUBON, Pa. (AP) _ Globus Medical Inc. (GMED) on Wednesday reported third-quarter profit of $38.3 million.
The Audubon, Pennsylvania-based company said it had profit of 38 cents per share. Earnings, adjusted for one-time gains and costs, came to 43 cents per share.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 43 cents per share.
The medical device company posted revenue of $196.2 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $186.6 million.
Globus Medical expects full-year earnings to be $1.72 per share, with revenue in the range of $775 million to $783 million.
Globus Medical shares have increased 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $53.10, a decline of 5% in the last 12 months.