Globus Medical stock is outperforming spine industry growth, analysts say

Alan Condon -   Print  |

Globus Medical shares have outperformed the spine industry over the last three months, according to analysis from Zacks Equity Research.

Six things to know:

1. Over the last three months, Globus Medical stock has increased 16.1 percent compared to 4.9 percent industry growth, according to the report.

2. Musculoskeletal solutions increased 14 percent, led by the U.S. spinal implant business, which rose 17 percent during the third quarter.

3. Growth was driven by competitive recruiting, robotic pull-through and product launches. The company launched five products in 2020.

4. The company is expanding its international footprint by consolidating direct and distributors' sales force.

5. Globus Medical's overall business bottomed in mid-April due to the COVID-19 pandemic, but revenue has recovered.

6. The company sold more robots in October than it did for all of the September-end quarter, according to Zacks Equity Research.

More articles on devices:
Outpatient migration will push more ASCs to invest in robotics, says Dr. Vladimir Sinkov
DOJ recovers $2.2B under False Claims Act — 2 orthopedic cases at center of FY 2020
Spine surgeon began using robot 1 year ago; now uses it in half of cases

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