Globus Med Inc Stock Price, News & Analysis

Globus Medical (NYSE: GMED) announced an expansion of its share repurchase program by authorizing an additional $200 million for buying back common stock. This increase brings the total available for repurchase to over $295 million, combining with the existing $95.3 million authorized in March 2020. The Board's decision reflects confidence in the company's long-term growth and financial stability. The repurchase strategy will prioritize market conditions and company performance while ensuring strategic investments align with sustaining growth.

Globus Medical, Inc. (NYSE: GMED) reported strong financial results for Q4 and full-year 2021. Q4 net sales reached $250.0 million, up 7.1% year-over-year. GAAP net income was $15.1 million, a 71.5% decrease from Q4 2020, primarily due to R&D acquisition costs. Full-year net sales totaled $958.1 million, an increase of 21.4%. Non-GAAP diluted EPS for 2021 was $2.04. The company anticipates 2022 sales of $1.025 billion with EPS of $2.10.

Globus Medical (NYSE:GMED) is set to announce its financial results for the fourth quarter and full year ended December 31, 2021, on February 17, 2022, after market close. The release will be available on the company’s website. Following this, a teleconference will be held at 4:30 p.m. ET to discuss the results with investors. No passcode is required for participation, and the call will be accessible via the website for those wishing to listen in without asking questions.

Globus Medical, Inc. (NYSE: GMED) reported its financial results for Q3 2021, highlighting worldwide net sales of $229.7 million, a 6.3% increase year-over-year. GAAP net income was $47.2 million, or 20.6% of sales, reflecting a 6.8% rise. Diluted EPS stood at $0.45 GAAP and $0.50 non-GAAP. Notably, U.S. sales rose 8.8%, while international sales declined 7.2%. The company confirmed full-year guidance of $950 million in net sales and $2.00 in non-GAAP EPS. Cash reserves total $985 million, maintaining a debt-free status.

On October 19, 2021, Globus Medical (NYSE:GMED) announced the launch of its ANTHEM® Mini Fragment Fracture System at the Orthopaedic Trauma Association meeting in Fort Worth, Texas. This innovative system is designed for the fixation of small bones and non-load-bearing stabilization of long bones. The system includes titanium and stainless-steel implants with various plate styles and advanced polyaxial locking technology. The initiative aligns with the growing trend among surgeons to use mini fragment plates for complex fractures, enhancing procedural efficiency.

Globus Medical, Inc. (NYSE:GMED) will release its financial results for Q3 2021 on November 4, 2021, after market close. A teleconference discussing the results will follow at 4:30 p.m. ET, accessible to all interested parties. The company, based in Audubon, PA, specializes in musculoskeletal solutions and aims to promote healing in patients. For further details, visit their investor relations page at www.globusmedical.com/investors.

Globus Medical has filed a lawsuit against Life Spine for allegedly infringing on seven patents concerning expandable interbody spacer technology. The case, initiated in the District Court of Delaware, seeks injunctive relief and damages. CEO Dave Demski emphasized the importance of protecting their intellectual property, noting the company's substantial investment in research and the development of over 256 patents related to this technology. The firm aims to safeguard its advancements against competitors that produce infringing products.

Globus Medical announced participation in the 36th Annual Meeting of the North American Spine Society (NASS) from September 29 to October 2, 2021, in Boston. The company will showcase advancements in robotic spine and minimally invasive lateral lumbar surgery, including the Excelsius Lateral 360 procedure and the newly launched Excelsius3D intelligent imaging system, recently 510(k)-cleared by the FDA. This innovative system integrates cone-beam CT, fluoroscopy, and digital radiography for enhanced surgical imaging.

Globus Medical (NYSE: GMED) announced the first use of its ExcelsiusGPS® Cranial Solutions platform for robot-assisted Deep Brain Stimulation (DBS). The platform, designed for cranial procedures, enhances operational efficiency and reduces human error. Dr. Francisco Ponce successfully performed the initial DBS using this technology, emphasizing its intuitive design. The ExcelsiusGPS® Cranial Solutions integrates MRI preoperative planning and features the only Fluoroscopy-to-CT registration on the market, simplifying complex procedures.