Globus Med Inc Stock Price, News & Analysis

Globus Medical reported its Q2 2022 financial results, achieving worldwide net sales of $263.6 million, a 5.0% increase year-over-year, with a 6.5% rise on a constant currency basis. GAAP net income rose to $54.6 million, a 31.4% increase from Q2 2021, with diluted EPS at $0.53. Notably, the Enabling Technologies sector saw a 41.7% growth to $29.4 million, fueled by strong demand for robotic systems. The company reaffirms its 2022 guidance of $1.025 billion in net sales and $2.10 non-GAAP diluted EPS.

Globus Medical (NYSE:GMED) will announce its second-quarter financial results for the period ending June 30, 2022, after market close on August 4, 2022. Investors can access the release on their website. A teleconference will be held the same day at 4:30 p.m. Eastern Time to discuss the performance with stakeholders. Interested participants can join via a webcast or telephone by pre-registering for access. The audio archive will be available post-call. Globus Medical specializes in musculoskeletal solutions and was founded in 2003.

Globus Medical (NYSE: GMED) announced the successful first surgeries using the Excelsius3D™ imaging platform, enhancing its existing ExcelsiusGPS® robotic navigation system. Surgeons from various hospitals performed these surgeries, highlighting the system's capabilities for minimally invasive procedures and improved surgical outcomes. The Excelsius3D™ provides a streamlined navigation workflow, offers multiple imaging modes, and reduces radiation exposure. This technology is now commercially available in the US, aiming to elevate patient care in spinal surgeries.

Globus Medical (NYSE: GMED) reported Q1 2022 financial results, with worldwide net sales of $230.5 million, a 1.4% year-over-year increase. GAAP net income was $38.1 million, reflecting a 16.0% decrease from the previous year, attributed to higher product development and marketing expenses. Diluted EPS stood at $0.37, down 13.1% from $0.44. The company reaffirmed its 2022 guidance, targeting $1.025 billion in net sales. Notably, U.S. Spine sales showed recovery, with record performance in March.

Globus Medical (NYSE:GMED) is set to release its financial results for Q1 ended March 31, 2022, on May 10, 2022, after market close. Investors can access the release on the company’s website, where a teleconference will follow at 4:30 p.m. ET to discuss performance with the investment community. Interested parties can join the call via phone or access it online. The company specializes in musculoskeletal solutions, aiming to enhance surgical outcomes.

Globus Medical, Inc. (NYSE: GMED) announced the resignation of CEO Dave Demski after nearly 20 years, effective immediately. Daniel T. Scavilla, previously Chief Financial Officer, has been named the new CEO. The company anticipates first-quarter 2022 sales of approximately $230.5 million, reflecting a 1.4% year-over-year increase. Globus reaffirmed its full-year guidance, expecting net sales of $1.025 billion and non-GAAP diluted earnings per share of $2.10 for 2022. The financial results for Q1 2022 will be announced on May 10, 2022.

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.