SYK - Globus Medical Climbs 18.12% From Q2 Exit - Beats EPS By $0.18; But Let's Not Jump In Just Yet
Overview
The medical device company Globus Medical (NYSE:GMED) has beaten The Street's Q2 EPS estimates, scoring a surprise of $0.07 earnings per share exiting the second quarter. Revenues also surpassed expectations by 49.3% over this most recent period and consequently, the stock has rallied 18.12% over the past 5 days on the back of the positive news. These results are an elation for GMED, who has missed earnings estimates 3 out of the last 4 quarters; however, while the numbers show benefit to investors, revenues posted were actually a significant decrease of 23%