Globus Medical Q3 sales up 16%, driven by spine robotics: 5 notes

Written by Laura Dyrda | November 07, 2019 | Print  |

Globus Medical reported a 16 percent increase in worldwide sales for the third quarter.

Five things to know:

1. Worldwide sales hit $196.2 million, up 16 percent over the same period last year. Sales were driven by robotics sales, which were up 17 percent, and international sales, which jumped 11.2 percent year over year.

2. The company reported $38 million in net income for the quarter, and $109.6 million for the nine-month's end.

3. Globus Medical's enabling technologies reported $13.8 million revenue for the third quarter, up from $6.1 million over the same period last year. The musculoskeletal solutions products line reported $182.3 million in revenue for the quarter, up from $163 million last year.

4. Net quarterly income for the third quarter was $38 million. Globus reported $109.6 million in net income for the nine-month's end.

5. Globus increased guidance for the full year sales from $775 million to $783 million.

More articles on orthopedic devices:
CMS removes 6 spinal procedures from inpatient-only list
How Alphatec, NuVasive & more performed in Q3: 11 device company notes
Nexxt Spine bolsters sales team with 3 additions

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