Welcome to our dedicated page for Globus Med news (Ticker: GMED), a resource for investors and traders seeking the latest updates and insights on Globus Med stock.
Globus Medical reports recurring developments in musculoskeletal technology, including sales and earnings updates for its spine, orthopedic and enabling technology businesses. The company develops medical devices, instruments and computer-assisted systems used in musculoskeletal procedures and sells to hospitals, physicians and surgical centers in the United States and international markets.
Company news also covers US Spine demand, Enabling Technologies customer expansion, product pipeline execution, integration activity following completed NuVasive and Nevro transactions, preliminary sales guidance, earnings conference calls and board composition changes.
Globus Medical (NYSE: GMED) reported financial results for Q2 2020, with worldwide sales of $148.9 million, down 23.4% year-over-year. The company experienced a net loss of $20.8 million and a diluted EPS of $(0.21). Non-GAAP diluted EPS was $0.07, an 82.9% decrease from last year. Despite challenges, the company is encouraged by a rebound in spine procedures, showing double-digit growth in June and mid-teens growth in July. With cash reserves of $636.2 million and a debt-free status, Globus Medical aims for growth in the latter half of 2020.
Globus Medical (NYSE: GMED) plans to release its financial results for Q1 ending June 30, 2020, on August 5, 2020, post-market. A teleconference will follow at 4:30 PM ET, inviting investors to discuss the performance. Participants can join via phone or webcast. The audio archive will be available until August 12, 2020. The company is recognized for its innovative solutions in the musculoskeletal sector, aiming to enhance surgical outcomes. More details can be found on their investor relations website.
Globus Medical, Inc. (NYSE: GMED) reported its first quarter financial results for 2020, achieving worldwide sales of $190.6 million, a 4.2% increase from Q1 2019. Net income dropped to $25.9 million, representing a 21.9% decrease year-over-year. Diluted EPS stood at $0.25, down from $0.33 in Q1 2019. The company predicts a $20 million negative sales impact due to COVID-19, leading to the withdrawal of its 2020 guidance. Despite the challenges, Globus Medical launched five new products and ended the quarter with $657.0 million in cash and equivalents.