Have you been paying attention to shares of Globus Medical (GMED) ? Shares have been on the move with the stock up 16.2% over the past month. The stock hit a new 52-week high of $65.74 in the previous session. Globus Medical has gained 15.8% since the start of the year compared to the 3.1% move for the Zacks Medical sector and the 4.9% return for the Zacks Medical - Instruments industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed our ear ...

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Globus Medical, Inc. (GMED) reported adjusted earnings per share (EPS) of 72 cents in the first quarter of 2024, which beat the Zacks Consensus Estimate by 30.9%. The metric increased 35.8% year over year.The adjusted EPS excludes certain non-recurring expenses and benefits like the amortization of intangibles, acquisition-related costs/licensing and provision for litigation, among others.Without adjustments, the company registered a GAAP diluted loss of 5 cents compared with the year-ago EPS of 48 cents.Re ...

Financial Data and Key Metrics Changes - The company reported Q1 2024 sales of $606.7 million, growing 119.3% year-over-year, with a non-GAAP EPS of $0.72, an increase of 36% compared to the prior year [121][129][118] - Adjusted EBITDA for Q1 was 28%, and free cash flow totaled $24 million [121][118] - GAAP net loss for Q1 was $7.1 million, resulting in a GAAP loss of $0.05 per share [129] Business Line Data and Key Metrics Changes - U.S. Spine sales grew 100% in Q1, driven by strong performance across various product categories [25] - Enabling technology sales reached $32 million, up 27.5% year-over-year, marking the highest Q1 since launch [33][154] - The combined trauma and NSO business delivered 308% growth for Q1, benefiting from the merger [125] Market Data and Key Metrics Changes - International sales were $123.7 million, growing 190.7% year-over-year [14] - On a pro forma basis, international revenue grew 8.1%, led by spinal implant growth in key countries [131] - The company noted a strong pipeline of potential NuVasive accounts that do not currently have robotic systems, indicating significant cross-selling opportunities [44] Company Strategy and Development Direction - The company launched five new products in Q1 and plans to continue this momentum with more launches in the coming months [5][152] - Focus on integrating the Globus and NuVasive field organizations to create a unified sales force and enhance product offerings [110] - Commitment to achieving $170 million in cost synergies, with expectations to realize $68 million during 2024 [164] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's long-term prospects, emphasizing the strength of the combined R&D and product portfolio [10][32] - The company expects to see a return to historical norms in sales transactions, with a strong pipeline moving into Q2 [145] - Management remains cautiously optimistic about the year, adjusting revenue guidance upwards based on strong Q1 performance [19][165] Other Important Information - Research and development expenses for Q1 were $57.3 million, or 9.4% of sales, including a $12.6 million charge related to in-process R&D [15] - The company has $191.7 million remaining on its authorized share repurchase program, demonstrating confidence in its stock value [37] - The GAAP tax rate for Q1 was 16.8%, down from 22.3% in the prior year, influenced by lower pretax profit and discrete items [36] Q&A Session Summary Question: Can you clarify the dissynergy number and its impact on guidance? - Management acknowledged the $150 million dissynergy estimate but noted that the increase in guidance reflects strong performance across the business [20][21] Question: How is the hiring process evolving post-merger? - Management indicated that 2024 could be a record year for hiring, with a strong pipeline of competitive reps seeking to join the company [111][52] Question: What is the outlook for the robotics market and competition? - Management remains confident in their competitive position, emphasizing continued investment in technology and product innovation [141][142] Question: Any updates on the ReconRobotics and its market entry? - The company is awaiting FDA approval for ReconRobotics and is building inventory in preparation for rollout [62][98] Question: How does the company view potential product rationalization? - Management stated there are no plans for proactive product rationalization, focusing instead on meeting customer needs [71] Question: What are the expectations for gross margins moving forward? - Management expects gross margins to improve as cost-saving measures take effect, with a focus on achieving mid-30s EBITDA margins in the future [83][99]

For the quarter ended March 2024, Globus Medical (GMED) reported revenue of $606.67 million, up 119.3% over the same period last year. EPS came in at $0.72, compared to $0.53 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $586.66 million, representing a surprise of +3.41%. The company delivered an EPS surprise of +30.91%, with the consensus EPS estimate being $0.55.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- an ...

Globus Medical (GMED) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 30.91%. A quarter ago, it was expected that this medical device company would post earnings of $0.59 per share when it actually produced earnings of $0.60, delivering a surprise of 1.69%.Over the last four quarters, ...

or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission File No. 001-35621 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 2560 Gene ...

Globus Medical Reports First Quarter 2024 Results AUDUBON, PA, May 7, 2024: Globus Medical, Inc. (NYSE: GMED), a leading musculoskeletal solutions company, today announced its financial results for the quarter ended March 31, 2024. "Since the NuVasive merger closed in September of last year, we worked aggressively to execute our integration strategy and are making significant progress towards rapidly reaching steady state. I am pleased with the first quarter results delivered by strong teamwork and partners ...

Wall Street analysts expect Globus Medical (GMED) to post quarterly earnings of $0.55 per share in its upcoming report, which indicates a year-over-year increase of 3.8%. Revenues are expected to be $586.66 million, up 112% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its earnings, it is essential to ...

Investors with an interest in Medical - Instruments stocks have likely encountered both Globus Medical (GMED) and Penumbra (PEN) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Sc ...