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Globus Medical and Conagra Brands have been highlighted as Zacks Bull and Bear of the Day
Read MoreHide Full Article
For Immediate Release
Chicago, IL – May 20, 2026 – Zacks Equity Research shares Globus Medical (GMED - Free Report) as the Bull of the Day and Conagra Brands (CAG - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on NIKE, Inc.'s (NKE - Free Report) , lululemon athletica inc. (LULU - Free Report) and adidas AG's (ADDYY - Free Report) .
Globus Medical is a musculoskeletal technology company that crushed Q1 estimates and is riding one of the strongest earnings revision cycles in the med-device space. GMED earns a Zacks Rank #1 (Strong Buy) and is today's Bull of the Day.
About the Company
Headquartered in Audubon, PA, Globus Medical is a medical device company focused on musculoskeletal disorders, with more than 209 products distributed across 65 countries worldwide.
The portfolio breaks into two categories:
Musculoskeletal Solutions covers implants, biologics, and surgical instruments for spine, trauma, and joint reconstruction, and drove 95% of 2025 revenues with 18% growth from the prior year.
Enabling Technologies encompasses the company's robotic, navigation, and imaging-assisted surgery platform designed to make complex procedures safer and more reproducible.
GMED is valued at $10 billion and has a Forward PE of 17. The stock has Zacks Style Scores of "B" in Value, but "A" in Growth and Momentum.
Q1 Earnings Beat
Globus delivered a strong quarter, with EPS of $1.12, above the $0.92 estimate. This 22% bottom line beat came while revenue of $759.9 million grew 27% year over year and topped the $730 million consensus. Adjusted EBITDA of $245.3 million expanded the margin to 32.3% from 29.7% a year ago. Margins growing faster than sales is a rare combination at this scale.
Management raised full-year non-GAAP EPS guidance to $4.70–$4.80 from $4.40–$4.50 while holding the revenue range steady at $3.18–$3.22 billion. The EPS raise on an unchanged sales guide signals the margin expansion is structural, not a one-quarter event.
Estimates Head Higher
Analysts have been raising estimates since the earnings release. Over the last 30 days estimates have moved from $1.02 to $1.09, a jump of 7%
Looking at the larger time frames, current-year EPS consensus sat at $3.89 just 90 days ago. It's now $4.66, which is a 20% move higher in a single quarter.
Next year moved from $4.11 to $5.05 over the same window, a big move of 23%
After earnings Wedbush reiterated its Outperform and $103 target.
The Diver
US Spine is the engine. Three straight quarters of roughly 10% growth, 58 consecutive weeks of gains, in a market the company estimates are only growing 3%. The gross margin story is equally compelling: 69.2% in Q1, flat with Q4 despite the seasonal revenue step-down, and the sixth straight quarter of sequential improvement. Management's long-term target is the mid-70s.
Product catalysts are lined up. SCRIPPT patient-specific spacers and rods cleared the FDA in early Q2. ANTHEM elbow plating demand is running ahead of supply. The robotics installed base is growing through a lease-and-rental model built to generate recurring implant and service revenue for years.
The Drag
The acquired Nevro SCS business remains in restructuring. Management said it likely "gets a little worse before it gets better" with recovery back-half loaded. That's the reason full-year revenue guidance was held flat despite the Q1 beat. But with the base business absorbing the drag and still expanding margins faster than sales, Nevro is a timing issue, not a thesis problem.
That drag is the main reason the stock sold off after the EPS release, but this looks like a huge buying opportunity.
The Technical Take
Late last year the stock gapped higher after a blowout quarter, moving from $60 to $80. Since then, the stock has been trading around the $90 level until it dropped under $75 after earnings.
That $75 area is the 61.8% retracement and has held support. The stock has since bounced back to the 200-day moving average at $79. Let's look at those moving averages
21-day: $86
50-day: $87.50
200-day: $79
If the recent lows hold up, the bulls will need to push higher and get above the 50-day MA, fill that earnings move gap and then resume the trend.
In Summary
GMED is a Zacks #1 Ranked stock with a 90-day estimate revision cycle that rivals anything in healthcare, a margin structure that keeps expanding, and a domestic spine franchise taking share at triple the market growth rate.
With the stock showing buying at technical support, GMED looks like a long-term buy at current levels.
Conagra Brands is one of North America's largest packaged food companies, and it is caught in a squeeze between recovering volumes and collapsing margins.
CAG earns a Zacks Rank #5 (Strong Sell) and is today's Bear of the Day.
About the Company
Headquartered in Chicago, Conagra Brands is a North American packaged food company with nearly $12 billion in fiscal 2025 net sales and a portfolio spanning frozen meals, snacks, shelf-stable grocery, refrigerated items, and foodservice products.
The company operates across four segments: Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice.
Conagra manages its portfolio in two distinct speeds: higher-velocity growth businesses in frozen and snacks, and mature cash-generating staples where the priority is margin and free cash flow.
CAG is valued at $6.5 billion and has a Forward PE of 8. The stock has Zacks Style Scores of "A" in Value, but "D" in Growth.
Q3 Earnings Miss
Conagra's reported Q3 results early in April, seeing revenue of $2.79 billion edged past the $2.77 billion estimate. Organic sales grew 2.4%, which was a genuine positive after quarters of volume pressure.
But the bottom line missed to the downside by 2.5%. Adjusted EPS came in at $0.39 against the $0.40 consensus, down 23.5% from $0.51 a year ago.
Adjusted gross margins fell 112 basis points to 23.7%. Adjusted operating margins contracted to 10.6% from 12.7% a year ago. Top-line recovery arrived, but the profits didn't come with it.
The guidance revision sealed the bearish case. Management cut full-year adjusted EPS to the low end of the prior range at $1.70, below the $1.73 consensus, and raised its COGS inflation forecast to 7% from a prior estimate of slightly above 4%.
The Estimate Collapse
Analysts have been cutting estimates since that April quarter.
Current year EPS stood at $1.73 sixty days ago and is now $1.70. Next year has gone from $1.81 to $1.71 over the same window.
With Goldman Sachs at Sell and a $15 target, Wells Fargo at Underweight with a $14 target, and multiple firms cutting price targets after the print, the analyst community is not waiting for a turnaround.
The Dividend Red Flag
The dividend looks great at first glance, but here is where it gets uncomfortable.
Free cash flow is covering it for now, and management explicitly cited dividend funding as a capital allocation priority. But with COGS inflation accelerating, margins compressing, and next year's EPS consensus barely moving off $1.71, there is very little cushion.
A high yield on a deteriorating earnings base is not income. It is a warning sign.
Some Bright Spots
The frozen and snacks businesses are genuinely improving. Eighty-eight percent of the frozen portfolio is holding or gaining volume share. Meat snacks grew roughly 9% in dollars and 10% in volume. Pricing actions in sweet treats are holding with minimal elasticity impact so far.
While the volume cliff is behind them, the margin cliff remains the issue.
Technicals Look Bleak
Not much to talk about when you look at the CAG chart. It's a slow bleed as investors give up on a big name that now pays a nice-looking dividend.
The stock hasn't crossed above the 21-day MA since March and it looks like sellers are showing up every moment it gets to that moving average.
In Summary
Organic volume is recovering, but COGS inflation nearly doubled in one quarter, margins are contracting sharply, EPS estimates keep drifting lower, and the dividend yield is doing more to mask the deterioration than to reward it.
The stock is down roughly 40% over the past year and the analyst consensus is clustered around Hold, Sell, and Underweight.
Additional content:
Is NIKE's China Recovery a Catalyst or Continued Concern?
NIKE, Inc.'s performance in China remains a key concern at this point in time. Although China continues to be among NKE's major international markets with solid long-term growth potential, the company is facing persistent challenges that are slowing its recovery in the region. NIKE has witnessed multiple quarters of declining sales in Greater China, with the trend continuing in the last reported quarter as well.
This softness stems from weaker consumer spending, rising competition from domestic brands, and evolving consumer preferences. The company is also dealing with issues related to excess inventory, promotional activity and slower product innovation in the region. These factors have affected NKE's dominance, market share and brand momentum in China.
In third-quarter fiscal 2026, Greater China revenues declined 10%, reflecting continued softness and deliberate marketplace management. NIKE Direct in the region declined 5%, with NIKE Digital down 21% while NIKE stores increased 1%, and wholesale declined 13% as sell-in was managed down to align with demand. For the fourth quarter of fiscal 2026, management had expected Greater China to be down approximately 20%, reflecting reduced sell-in and accelerated cleanup actions.
However, NIKE is actively working to improve its position. The company is focusing on localized product development, strengthening partnerships, improving digital strategy and emphasizing performance-focused categories such as running and basketball. Management acknowledged that it is taking actions to clean the marketplace, tighten execution across digital and physical retail, and rebuild the brand locally through sport, but these actions will take time to rebuild growth.
Despite these strategic initiatives, NIKE's recovery in China is expected to remain gradual and uncertain in the near term. Overall, China continues to offer significant long-term growth opportunities for NKE, but persistent market weakness and intensifying competitive pressures currently make it more of an ongoing concern than an immediate growth catalyst for the company.
NKE's Competition
lululemon athletica inc. is experiencing robust international momentum, with China and other global markets driving faster growth. LULU has high exposure to both China and digital demand, as underscored in its fourth-quarter fiscal 2025 results. Strong international momentum boosts LULU, with revenues up 17% and China up 24% in the fiscal fourth quarter. Mainland China remains a standout, supported by strong brand resonance, localized assortments and disciplined store expansion.
adidas AG's strategy focuses on strengthening its brand appeal, driving product innovation, improving operational efficiency and accelerating growth. The company prioritizes expansion, inventory discipline and sustainability to improve profitability and long-term competitiveness. adidas shows meaningful and well-balanced exposure to China and digital demand. ADDYY continues to expand its presence in China through aggressive localization, digital investments and store expansion strategies, positioning the market as a major long-term growth driver.
NKE'S Price Performance, Valuation and Estimates
Shares of NIKE have lost 30.7% in the past six months compared with the industry's decline of 27.7%.
From a valuation standpoint, NKE trades at a forward price-to-earnings ratio of 22.76X compared with the industry's average of 19.6X.
The Zacks Consensus Estimate for NKE's fiscal 2026 earnings implies a year-over-year plunge of 30.1% while that of fiscal 2027 shows growth of 24.6%. The company's EPS estimate for fiscal 2026 and fiscal 2027 has moved south in the past 30 days.
NIKE stock currently carries a Zacks Rank #4 (Sell).
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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Globus Medical and Conagra Brands have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – May 20, 2026 – Zacks Equity Research shares Globus Medical (GMED - Free Report) as the Bull of the Day and Conagra Brands (CAG - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on NIKE, Inc.'s (NKE - Free Report) , lululemon athletica inc. (LULU - Free Report) and adidas AG's (ADDYY - Free Report) .
Here is a synopsis of all five stocks:
Bull of the Day:
Globus Medical is a musculoskeletal technology company that crushed Q1 estimates and is riding one of the strongest earnings revision cycles in the med-device space. GMED earns a Zacks Rank #1 (Strong Buy) and is today's Bull of the Day.
About the Company
Headquartered in Audubon, PA, Globus Medical is a medical device company focused on musculoskeletal disorders, with more than 209 products distributed across 65 countries worldwide.
The portfolio breaks into two categories:
Musculoskeletal Solutions covers implants, biologics, and surgical instruments for spine, trauma, and joint reconstruction, and drove 95% of 2025 revenues with 18% growth from the prior year.
Enabling Technologies encompasses the company's robotic, navigation, and imaging-assisted surgery platform designed to make complex procedures safer and more reproducible.
GMED is valued at $10 billion and has a Forward PE of 17. The stock has Zacks Style Scores of "B" in Value, but "A" in Growth and Momentum.
Q1 Earnings Beat
Globus delivered a strong quarter, with EPS of $1.12, above the $0.92 estimate. This 22% bottom line beat came while revenue of $759.9 million grew 27% year over year and topped the $730 million consensus. Adjusted EBITDA of $245.3 million expanded the margin to 32.3% from 29.7% a year ago. Margins growing faster than sales is a rare combination at this scale.
Management raised full-year non-GAAP EPS guidance to $4.70–$4.80 from $4.40–$4.50 while holding the revenue range steady at $3.18–$3.22 billion. The EPS raise on an unchanged sales guide signals the margin expansion is structural, not a one-quarter event.
Estimates Head Higher
Analysts have been raising estimates since the earnings release. Over the last 30 days estimates have moved from $1.02 to $1.09, a jump of 7%
Looking at the larger time frames, current-year EPS consensus sat at $3.89 just 90 days ago. It's now $4.66, which is a 20% move higher in a single quarter.
Next year moved from $4.11 to $5.05 over the same window, a big move of 23%
After earnings Wedbush reiterated its Outperform and $103 target.
The Diver
US Spine is the engine. Three straight quarters of roughly 10% growth, 58 consecutive weeks of gains, in a market the company estimates are only growing 3%. The gross margin story is equally compelling: 69.2% in Q1, flat with Q4 despite the seasonal revenue step-down, and the sixth straight quarter of sequential improvement. Management's long-term target is the mid-70s.
Product catalysts are lined up. SCRIPPT patient-specific spacers and rods cleared the FDA in early Q2. ANTHEM elbow plating demand is running ahead of supply. The robotics installed base is growing through a lease-and-rental model built to generate recurring implant and service revenue for years.
The Drag
The acquired Nevro SCS business remains in restructuring. Management said it likely "gets a little worse before it gets better" with recovery back-half loaded. That's the reason full-year revenue guidance was held flat despite the Q1 beat. But with the base business absorbing the drag and still expanding margins faster than sales, Nevro is a timing issue, not a thesis problem.
That drag is the main reason the stock sold off after the EPS release, but this looks like a huge buying opportunity.
The Technical Take
Late last year the stock gapped higher after a blowout quarter, moving from $60 to $80. Since then, the stock has been trading around the $90 level until it dropped under $75 after earnings.
That $75 area is the 61.8% retracement and has held support. The stock has since bounced back to the 200-day moving average at $79. Let's look at those moving averages
21-day: $86
50-day: $87.50
200-day: $79
If the recent lows hold up, the bulls will need to push higher and get above the 50-day MA, fill that earnings move gap and then resume the trend.
In Summary
GMED is a Zacks #1 Ranked stock with a 90-day estimate revision cycle that rivals anything in healthcare, a margin structure that keeps expanding, and a domestic spine franchise taking share at triple the market growth rate.
With the stock showing buying at technical support, GMED looks like a long-term buy at current levels.
Bear of the Day:
Conagra Brands is one of North America's largest packaged food companies, and it is caught in a squeeze between recovering volumes and collapsing margins.
CAG earns a Zacks Rank #5 (Strong Sell) and is today's Bear of the Day.
About the Company
Headquartered in Chicago, Conagra Brands is a North American packaged food company with nearly $12 billion in fiscal 2025 net sales and a portfolio spanning frozen meals, snacks, shelf-stable grocery, refrigerated items, and foodservice products.
The company operates across four segments: Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice.
Conagra manages its portfolio in two distinct speeds: higher-velocity growth businesses in frozen and snacks, and mature cash-generating staples where the priority is margin and free cash flow.
CAG is valued at $6.5 billion and has a Forward PE of 8. The stock has Zacks Style Scores of "A" in Value, but "D" in Growth.
Q3 Earnings Miss
Conagra's reported Q3 results early in April, seeing revenue of $2.79 billion edged past the $2.77 billion estimate. Organic sales grew 2.4%, which was a genuine positive after quarters of volume pressure.
But the bottom line missed to the downside by 2.5%. Adjusted EPS came in at $0.39 against the $0.40 consensus, down 23.5% from $0.51 a year ago.
Adjusted gross margins fell 112 basis points to 23.7%. Adjusted operating margins contracted to 10.6% from 12.7% a year ago. Top-line recovery arrived, but the profits didn't come with it.
The guidance revision sealed the bearish case. Management cut full-year adjusted EPS to the low end of the prior range at $1.70, below the $1.73 consensus, and raised its COGS inflation forecast to 7% from a prior estimate of slightly above 4%.
The Estimate Collapse
Analysts have been cutting estimates since that April quarter.
Current year EPS stood at $1.73 sixty days ago and is now $1.70. Next year has gone from $1.81 to $1.71 over the same window.
With Goldman Sachs at Sell and a $15 target, Wells Fargo at Underweight with a $14 target, and multiple firms cutting price targets after the print, the analyst community is not waiting for a turnaround.
The Dividend Red Flag
The dividend looks great at first glance, but here is where it gets uncomfortable.
Free cash flow is covering it for now, and management explicitly cited dividend funding as a capital allocation priority. But with COGS inflation accelerating, margins compressing, and next year's EPS consensus barely moving off $1.71, there is very little cushion.
A high yield on a deteriorating earnings base is not income. It is a warning sign.
Some Bright Spots
The frozen and snacks businesses are genuinely improving. Eighty-eight percent of the frozen portfolio is holding or gaining volume share. Meat snacks grew roughly 9% in dollars and 10% in volume. Pricing actions in sweet treats are holding with minimal elasticity impact so far.
While the volume cliff is behind them, the margin cliff remains the issue.
Technicals Look Bleak
Not much to talk about when you look at the CAG chart. It's a slow bleed as investors give up on a big name that now pays a nice-looking dividend.
The stock hasn't crossed above the 21-day MA since March and it looks like sellers are showing up every moment it gets to that moving average.
In Summary
Organic volume is recovering, but COGS inflation nearly doubled in one quarter, margins are contracting sharply, EPS estimates keep drifting lower, and the dividend yield is doing more to mask the deterioration than to reward it.
The stock is down roughly 40% over the past year and the analyst consensus is clustered around Hold, Sell, and Underweight.
Additional content:
Is NIKE's China Recovery a Catalyst or Continued Concern?
NIKE, Inc.'s performance in China remains a key concern at this point in time. Although China continues to be among NKE's major international markets with solid long-term growth potential, the company is facing persistent challenges that are slowing its recovery in the region. NIKE has witnessed multiple quarters of declining sales in Greater China, with the trend continuing in the last reported quarter as well.
This softness stems from weaker consumer spending, rising competition from domestic brands, and evolving consumer preferences. The company is also dealing with issues related to excess inventory, promotional activity and slower product innovation in the region. These factors have affected NKE's dominance, market share and brand momentum in China.
In third-quarter fiscal 2026, Greater China revenues declined 10%, reflecting continued softness and deliberate marketplace management. NIKE Direct in the region declined 5%, with NIKE Digital down 21% while NIKE stores increased 1%, and wholesale declined 13% as sell-in was managed down to align with demand. For the fourth quarter of fiscal 2026, management had expected Greater China to be down approximately 20%, reflecting reduced sell-in and accelerated cleanup actions.
However, NIKE is actively working to improve its position. The company is focusing on localized product development, strengthening partnerships, improving digital strategy and emphasizing performance-focused categories such as running and basketball. Management acknowledged that it is taking actions to clean the marketplace, tighten execution across digital and physical retail, and rebuild the brand locally through sport, but these actions will take time to rebuild growth.
Despite these strategic initiatives, NIKE's recovery in China is expected to remain gradual and uncertain in the near term. Overall, China continues to offer significant long-term growth opportunities for NKE, but persistent market weakness and intensifying competitive pressures currently make it more of an ongoing concern than an immediate growth catalyst for the company.
NKE's Competition
lululemon athletica inc. is experiencing robust international momentum, with China and other global markets driving faster growth. LULU has high exposure to both China and digital demand, as underscored in its fourth-quarter fiscal 2025 results. Strong international momentum boosts LULU, with revenues up 17% and China up 24% in the fiscal fourth quarter. Mainland China remains a standout, supported by strong brand resonance, localized assortments and disciplined store expansion.
adidas AG's strategy focuses on strengthening its brand appeal, driving product innovation, improving operational efficiency and accelerating growth. The company prioritizes expansion, inventory discipline and sustainability to improve profitability and long-term competitiveness. adidas shows meaningful and well-balanced exposure to China and digital demand. ADDYY continues to expand its presence in China through aggressive localization, digital investments and store expansion strategies, positioning the market as a major long-term growth driver.
NKE'S Price Performance, Valuation and Estimates
Shares of NIKE have lost 30.7% in the past six months compared with the industry's decline of 27.7%.
From a valuation standpoint, NKE trades at a forward price-to-earnings ratio of 22.76X compared with the industry's average of 19.6X.
The Zacks Consensus Estimate for NKE's fiscal 2026 earnings implies a year-over-year plunge of 30.1% while that of fiscal 2027 shows growth of 24.6%. The company's EPS estimate for fiscal 2026 and fiscal 2027 has moved south in the past 30 days.
NIKE stock currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.