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Globus Medical: 1Q Earnings Snapshot

AUDUBON, Pa. (AP) _ Globus Medical Inc. (GMED) on Thursday reported first-quarter earnings of $33.2 million.

On a per-share basis, the Audubon, Pennsylvania-based company said it had profit of 33 cents. Earnings, adjusted for one-time gains and costs, came to 36 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The medical device company posted revenue of $182.9 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $186.5 million.

Globus Medical expects full-year earnings to be $1.72 per share, with revenue expected to be $770 million.

Globus Medical shares have risen slightly more than 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $45.99, a decrease of slightly more than 7% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GMED at https://www.zacks.com/ap/GMED