Following the announcement, Globus Medical will hold a teleconference to discuss its performance with the investment community at 4:30 p.m. Eastern Time. Participants may access the conference call live via webcast on the Investors page of Globus Medical's website at https://www.investors.globusmedical.com/newsevents/events-webcasts. The audio archive will be available after the call on the Investor page of the Globus Medical website. Safe Harbor Statements Email: investors@globusmedical.com www.globusmedic ...

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on. While good value is impo ...

What's Driving the Outperformance? For the current fiscal year, Globus Medical is expected to post earnings of $2.82 per share on $2.48 billion in revenues. This represents a 21.55% change in EPS on a 57.96% change in revenues. For the next fiscal year, the company is expected to earn $3.32 per share on $2.65 billion in revenues. This represents a year-over-year change of 17.73% and 6.97%, respectively. Globus Medical may be at a 52-week high right now, but what might the future hold for the stock? A key as ...

Company Overview - Globus Medical, Inc. is a medical device company focused on developing and commercializing healthcare solutions for patients with musculoskeletal disorders, with sales operations in 51 countries worldwide [26]. Investment Insights - GMED is currently rated as a 2 (Buy) on the Zacks Rank, with a VGM Score of B, indicating it should be on investors' short lists [10][11]. - The company has seen three analysts revise their earnings estimates higher for fiscal 2024, with the Zacks Consensus Estimate increasing by $0.03 to $2.82 per share, and an average earnings surprise of 10.8% [19]. Style Scores - The Zacks Style Scores categorize stocks into Value, Growth, and Momentum, providing a comprehensive assessment of their potential to outperform the market [12][16]. - GMED has a Value Style Score of B, supported by a forward P/E ratio of 24.25, making it attractive for value investors [13][6]. - The VGM Score combines all Style Scores, helping to identify companies with the best value, growth forecasts, and momentum [16]. Performance Metrics - Stocks rated 1 (Strong Buy) have produced an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8]. - To maximize investment success, it is recommended to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B [20].

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. What are the Zacks Style Scores? Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the ...

Core Viewpoint - Globus Medical reported strong earnings and revenue growth in Q1 2024, driven by the acquisition of NuVasive and increased sales in spine products and enabling technologies, although margins contracted due to rising costs [2][4][8]. Financial Performance - Adjusted earnings per share (EPS) for Q1 2024 were 72 cents, exceeding the Zacks Consensus Estimate by 30.9% and reflecting a 35.8% year-over-year increase [2]. - Total revenues for the quarter reached $606.7 million, marking a 119.3% year-over-year increase and surpassing the Zacks Consensus Estimate by 3.4% [4]. - The company reported a GAAP diluted loss of 5 cents, compared to an EPS of 48 cents in the previous year [3]. Revenue Breakdown - U.S. net sales increased by 106.3% year-over-year to $482.9 million, while international revenues surged by 190.7% to $123.7 million [5]. - Musculoskeletal Solutions generated revenues of $574.7 million, up 128.4% year-over-year, primarily due to the NuVasive merger [6]. - Enabling Technologies reported revenues of $32 million, a 27.5% increase from the prior year [7]. Margin Analysis - Gross profit rose 77.4% year-over-year to $365.2 million, but gross margin contracted by 1,421 basis points to 60.2% due to a 241% increase in the cost of sales [8]. - Adjusted operating profit fell 5.1% year-over-year to $59.2 million, with the adjusted operating margin contracting by 1,278 basis points to 9.8% [9]. Cash Position - At the end of Q1 2024, the company had combined cash and cash equivalents of $434.5 million, down from $517.8 million at the end of 2023 [9]. - Cumulative net cash provided by operating activities was $52.4 million, slightly down from $53.3 million year-over-year [10]. 2024 Guidance - The company updated its full-year net sales guidance to a range of $2.460 billion to $2.485 billion, with adjusted EPS guidance revised to $2.75 to $2.85 [11]. - The Zacks Consensus Estimate for net sales is currently pegged at $2.46 billion, while the adjusted EPS estimate is at $2.69 [11]. Market Position - Globus Medical holds a Zacks Rank 3 (Hold) and has a strong aggregate VGM Score of A, indicating positive growth and momentum [12][13]. - In comparison, Avanos Medical, a peer in the medical instruments industry, reported a revenue decline of 13.4% year-over-year, highlighting Globus Medical's stronger performance [14].

Shares of Globus Medical (GMED) reached a new 52-week high of $67.37 on May 22 before closing the session marginally lower at $67.15. In the past year, this Zacks Rank #3 (Hold) stock has rallied 25.8% compared with the 12.1% growth of the industry and the S&P 500 composite's rise of 29.5%. Globus Medical has an expected 2024 sales growth rate of 57.8%. Earnings for the year are projected to increase by 20.7% compared with the industry's 13.3%. The company topped earnings estimates in each of the trailing f ...

Zacks Premium includes access to the Zacks Style Scores as well. What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days. Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is bett ...

Investors interested in Medical - Instruments stocks are likely familiar with Globus Medical (GMED) and Penumbra (PEN) . But which of these two stocks presents investors with the better value opportunity right now? 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 is a proven strategy that targets companies with positive earnings estimate revision tr ...

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 ...