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, 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.
Globus Medical (NYSE: GMED) announced on August 16, 2021, that its innovative Excelsius3D™ imaging system received 510(k) clearance from the U.S. FDA. This intelligent 3-in-1 platform integrates 360° cone-beam CT, fluoroscopy, and high-resolution radiography into a single solution, enhancing procedural efficiency. The system is designed for both adult and pediatric patients, facilitating detailed imaging. Globus Medical plans to ramp up production for a commercial launch in the fourth quarter.
Globus Medical, a leader in musculoskeletal solutions, reported impressive Q2 2021 financial results. Worldwide net sales soared to $251 million, a 68.6% increase from Q2 2020. GAAP net income reached $41.5 million (16.6% of net sales), marking a 299.4% rise. GAAP diluted EPS improved to $0.40, while non-GAAP diluted EPS surged to $0.56, up 691.2%. The company has increased its full-year sales guidance from $925 million to $950 million. As of June 30, 2021, Globus maintains a strong cash position of $914.2 million and remains debt-free.
Globus Medical, Inc. (NYSE:GMED) will release its financial results for Q2 2021 after market close on August 4, 2021. A teleconference will follow at 4:30 p.m. ET, allowing stakeholders to discuss performance. The company, founded in 2003, specializes in musculoskeletal solutions and emphasizes its commitment to innovation and surgeon support. Interested parties may access the teleconference by phone or via a webcast on their investor website. The details, including access numbers for U.S. and international participants, are provided in the release.
Globus Medical (NYSE: GMED) announced the successful use of its ExcelsiusGPS Robotic Navigation system in over 20,000 spine procedures. This innovative platform enhances surgical accuracy, reduces radiation exposure, and saves operating time.
Dr. Roland Kent highlighted significant decreases in operative times while using the system for various spine surgeries. The platform's multifunctionality and real-time information facilitate accurate trajectory alignment, addressing gaps in existing navigation technologies.