Globus Medical stock is outperforming spine industry growth, analysts say

Spinal Tech

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.

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