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Globus Medical Rides on New Product Menu, U.S. Spine Business
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On Dec 13, 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 has a Zacks Rank #3 (Hold).
Over the past three months, shares of the company have outperformed its industry. The stock has rallied 32.4% compared with the industry’s 17.3% growth.
During the third quarter, Musculoskeletal Solutions continued to perform exceptionally well. Within this space, the U.S. Spine business consistently grabbed substantial 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 a strong uptrend 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 (2%)-0%.
Key Picks
Some better-ranked stocks from the broader medical space are Haemonetics Corporation (HAE - Free Report) , National Vision Holdings, Inc (EYE - Free Report) and ResMed Inc (RMD - Free Report) .
Haemonetics currently has a Zacks Rank #2 (Buy) and a projected long-term earnings growth rate of 13.5%.
ResMed’s long-term earnings growth rate is estimated at 14%. It currently flaunts a Zacks Rank #1.
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This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
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Globus Medical Rides on New Product Menu, U.S. Spine Business
On Dec 13, 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 has a Zacks Rank #3 (Hold).
Over the past three months, shares of the company have outperformed its industry. The stock has rallied 32.4% compared with the industry’s 17.3% growth.
During the third quarter, Musculoskeletal Solutions continued to perform exceptionally well. Within this space, the U.S. Spine business consistently grabbed substantial market share, driven by competitive representative recruiting and an implant pull-through from ExcelsiusGPS installations.
Globus Medical, Inc. Price
Globus Medical, Inc. price | Globus Medical, Inc. Quote
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 a strong uptrend 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 (2%)-0%.
Key Picks
Some better-ranked stocks from the broader medical space are Haemonetics Corporation (HAE - Free Report) , National Vision Holdings, Inc (EYE - Free Report) and ResMed Inc (RMD - Free Report) .
Haemonetics currently has a Zacks Rank #2 (Buy) and a projected long-term earnings growth rate of 13.5%.
National Vision’s long-term earnings growth rate is estimated at 17.8%. The company currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ResMed’s long-term earnings growth rate is estimated at 14%. It currently flaunts a Zacks Rank #1.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.
This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
See their latest picks free >>