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Globus Medical's U.S. Spine Arm Grows, Product Launches Aid
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On Nov 11, we issued an updated research report on Globus Medical, Inc. (GMED - Free Report) . The company continues to witness higher demand for its Musculoskeletal Solutions products. Meanwhile, it is expanding its footprint in the overseas markets by consolidating direct and distributors’ sales force. The stock currently holds a Zacks Rank #2 (Buy).
Over the past three months, shares of Globus Medical have outperformed the industry. The stock has rallied 14.5% compared with the industry’s 3.7%.
During the third quarter, Musculoskeletal Solutions continued to perform exceptionally well. Within this, the U.S. Spine business consistently captured a significant market share, driven by competitive representative recruiting and an implant pull-through from ExcelsiusGPS installations.
The company expects to finish 2019 as the third consecutive year of competitive representative recruiting. Internationally, spine business grew 15% in the third quarter, ahead of the market across almost all significant geographies. Enabling Technologies also registered strong growth on the increasing adoption of ExcelsiusGPS platform.
Globus Medical is currently on track to commercially market this product and launch its spine deformity solution in early fourth quarter. A raised sales outlook for 2019 is indicative of this bullish trend to sustain through the remaining year.
On the flip side, concerns about the pricing scenario persist as it will be affected by the cost-containment efforts of governmental healthcare, local hospitals and health systems. For the full year, pricing pressure is expected in the range of zero to a negative 2%.
Other Key Picks
Some other top-ranked stocks from the broader medical space are Haemonetics Corporation (HAE - Free Report) , NuVasive, Inc and GW Pharmaceuticals plc .
NuVasive has a Zacks Rank of 2 and an expected long-term earnings growth rate of 10.9%.
GW Pharmaceuticals estimates fourth-quarter earnings growth rate at 67.9%. It is currently a Zacks #2 Ranked stock.
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Globus Medical's U.S. Spine Arm Grows, Product Launches Aid
On Nov 11, we issued an updated research report on Globus Medical, Inc. (GMED - Free Report) . The company continues to witness higher demand for its Musculoskeletal Solutions products. Meanwhile, it is expanding its footprint in the overseas markets by consolidating direct and distributors’ sales force. The stock currently holds a Zacks Rank #2 (Buy).
Over the past three months, shares of Globus Medical have outperformed the industry. The stock has rallied 14.5% compared with the industry’s 3.7%.
During the third quarter, Musculoskeletal Solutions continued to perform exceptionally well. Within this, the U.S. Spine business consistently captured a significant market share, driven by competitive representative recruiting and an implant pull-through from ExcelsiusGPS installations.
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The company expects to finish 2019 as the third consecutive year of competitive representative recruiting. Internationally, spine business grew 15% in the third quarter, ahead of the market across almost all significant geographies. Enabling Technologies also registered strong growth on the increasing adoption of ExcelsiusGPS platform.
Globus Medical is currently on track to commercially market this product and launch its spine deformity solution in early fourth quarter. A raised sales outlook for 2019 is indicative of this bullish trend to sustain through the remaining year.
On the flip side, concerns about the pricing scenario persist as it will be affected by the cost-containment efforts of governmental healthcare, local hospitals and health systems. For the full year, pricing pressure is expected in the range of zero to a negative 2%.
Other Key Picks
Some other top-ranked stocks from the broader medical space are Haemonetics Corporation (HAE - Free Report) , NuVasive, Inc and GW Pharmaceuticals plc .
Haemonetics, currently sporting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate projection of 13.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
NuVasive has a Zacks Rank of 2 and an expected long-term earnings growth rate of 10.9%.
GW Pharmaceuticals estimates fourth-quarter earnings growth rate at 67.9%. It is currently a Zacks #2 Ranked stock.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>