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Globus Medical's Robotic Guidance System Gets FDA Approval
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Based in Audubon, PA, leading musculoskeletal implant company Globus Medical, Inc. (GMED - Free Report) announced the receipt of 510k approval for its Excelsius GPS robotic guidance and navigation system from the FDA.
In fact, positive tidings on the regulatory front have favored Globus Medical. The company has already clinched CE Mark for Excelsius GPS in January. The system supports minimally invasive, open orthopedic and neurosurgical procedures with screw placement applications. The system is exclusively designed to limit radiation exposure, reorganize workflow and assist implant placement.
Excelsius GPS system works with three different imaging modalities. Excelsius GPS integrates Globus Medical implants and instruments and is compatible with pre-operative CT, intra-operative CT and fluoroscopic imaging modalities.
Globus Medical is gearing up for a worldwide launch, including logistics, supply chain, manufacturing and support of the Excelsius GPS system. In fact, this technology has encouraged Globus Medical to increase investments in R&D, technology acquisition and distribution channels.
Share Performance & Estimate Revision Trend
Over the last one month, Globus Medical has been trading below the broader industry. The company has lost 6.3%, much wider than the broader industry’s decline of 2.8%. The current level also compares unfavorably with the S&P 500’s decline of only 0.4% over the same time frame.
The estimate revision trend for Globus Medical has been unfavorable of late. For the current quarter, two analysts moved south compared to one movement in the opposite direction over the last two months. As a result, magnitude of current-quarter estimates fell 3.2% to 30 cents per share over the same time frame.
Our Viewpoint
A research report by Technavio expects the global musculoskeletal disorders therapeutics market to see a CAGR of approximately 4% by 2020. We believe Globus Medical’s latest regulatory progress will lend it a competitive edge in the global niche space. Meanwhile, the stock has a Zacks Rank #4 (Sell), signifying probabilities of underperformance in the near term. On the contrary, the stock’s long-term expected earnings growth rate of 11.5% instills confidence in investors. Adding to the positives, the company was debt free at the end of the just-reported second quarter. Globus Medical reaffirmed its guidance for full-year 2017 sales at approximately $625 million and adjusted earnings per share of $1.27.
Key Picks
A few better-ranked stocks in the broader medical sector are Edwards Lifesciences Corp. (EW - Free Report) , IDEXX Laboratories, Inc. (IDXX - Free Report) and Stryker Corporation (SYK - Free Report) . Notably, Edwards Lifesciences sports a Zacks Rank #1 (Strong Buy), while IDEXX Laboratories and Stryker have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. Notably, the stock represents an impressive year-to-date return of 21.2%.
IDEXX Laboratories has a long-term expected earnings growth rate of 19.8%. Notably, the stock represents a stellar year-to-date return of 29.5%.
Stryker represents a solid year-to-date return of 21.3%. The stock has a long-term expected earnings growth rate of 10%.
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
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Globus Medical's Robotic Guidance System Gets FDA Approval
Based in Audubon, PA, leading musculoskeletal implant company Globus Medical, Inc. (GMED - Free Report) announced the receipt of 510k approval for its Excelsius GPS robotic guidance and navigation system from the FDA.
In fact, positive tidings on the regulatory front have favored Globus Medical. The company has already clinched CE Mark for Excelsius GPS in January. The system supports minimally invasive, open orthopedic and neurosurgical procedures with screw placement applications. The system is exclusively designed to limit radiation exposure, reorganize workflow and assist implant placement.
Excelsius GPS system works with three different imaging modalities. Excelsius GPS integrates Globus Medical implants and instruments and is compatible with pre-operative CT, intra-operative CT and fluoroscopic imaging modalities.
Globus Medical is gearing up for a worldwide launch, including logistics, supply chain, manufacturing and support of the Excelsius GPS system. In fact, this technology has encouraged Globus Medical to increase investments in R&D, technology acquisition and distribution channels.
Share Performance & Estimate Revision Trend
Over the last one month, Globus Medical has been trading below the broader industry. The company has lost 6.3%, much wider than the broader industry’s decline of 2.8%. The current level also compares unfavorably with the S&P 500’s decline of only 0.4% over the same time frame.
The estimate revision trend for Globus Medical has been unfavorable of late. For the current quarter, two analysts moved south compared to one movement in the opposite direction over the last two months. As a result, magnitude of current-quarter estimates fell 3.2% to 30 cents per share over the same time frame.
Our Viewpoint
A research report by Technavio expects the global musculoskeletal disorders therapeutics market to see a CAGR of approximately 4% by 2020. We believe Globus Medical’s latest regulatory progress will lend it a competitive edge in the global niche space. Meanwhile, the stock has a Zacks Rank #4 (Sell), signifying probabilities of underperformance in the near term. On the contrary, the stock’s long-term expected earnings growth rate of 11.5% instills confidence in investors. Adding to the positives, the company was debt free at the end of the just-reported second quarter. Globus Medical reaffirmed its guidance for full-year 2017 sales at approximately $625 million and adjusted earnings per share of $1.27.
Key Picks
A few better-ranked stocks in the broader medical sector are Edwards Lifesciences Corp. (EW - Free Report) , IDEXX Laboratories, Inc. (IDXX - Free Report) and Stryker Corporation (SYK - Free Report) . Notably, Edwards Lifesciences sports a Zacks Rank #1 (Strong Buy), while IDEXX Laboratories and Stryker have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. Notably, the stock represents an impressive year-to-date return of 21.2%.
IDEXX Laboratories has a long-term expected earnings growth rate of 19.8%. Notably, the stock represents a stellar year-to-date return of 29.5%.
Stryker represents a solid year-to-date return of 21.3%. The stock has a long-term expected earnings growth rate of 10%.
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
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