Globus Medical GMED shares ended the last trading session 5.1% higher at $79.23. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.3% loss over the past four weeks.
Globus Medical scored a strong price increase on investors’ optimism surrounding the company’s solid first quarter of 2026 performance. The company posted adjusted earnings per share (EPS) of $1.12 while revenues came in at $ 759.9 in the first quarter. Both topline and bottom line surpassed their respective Zacks Consensus Estimates.
This medical device company is expected to post quarterly earnings of $1.12 per share in its upcoming report, which represents a year-over-year change of +30.2%. Revenues are expected to be $787.34 million, up 5.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Globus Medical, the consensus EPS estimate for the quarter has been revised 2.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GMED going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Globus Medical is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Lucid Diagnostics Inc. LUCD, finished the last trading session 9.9% higher at $1.08. LUCD has returned -1.7% over the past month.
For Lucid Diagnostics, the consensus EPS estimate for the upcoming report has changed +16.7% over the past month to -$0.04. This represents a change of +60% from what the company reported a year ago. Lucid Diagnostics currently has a Zacks Rank of #3 (Hold).
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Globus Medical, Inc. (GMED): Free Stock Analysis Report
Lucid Diagnostics Inc. (LUCD): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).