SYK - Globus Medical (GMED) Gains From New Launches Amid Macro Issues | Benzinga
Globus Medical (NYSE: GMED) continues to gain from surging demand for its Musculoskeletal Solutions products. Meanwhile, the company is expanding in the overseas markets through the expansion of direct and distributor sales force. Yet, we are worried about a challenging macroeconomic scenario that continues to plague Globus Medical's profit margins. It has a Zacks Rank #3 (Hold) at present.
GMED is gaining market share in the musculoskeletal solutions space, banking on the strong performance of its implantable devices, biologics, accessories, and unique surgical instruments used in an expansive range of spinal, orthopedic and neurosurgical procedures.
The company is particularly seeing notable gains across its product portfolio in expandables, biologics, MIS screws, 3D printed implants and cervical offerings. Over the past couple of quarters, this business has registered above-market growth, driven by competitive rep recruiting from prior quarters and robotic pull-through.
In the fourth quarter, Legacy Globus' musculoskeletal revenues surged 11.8%. The growth was led by the company's U.S. and international spine businesses, as well as continued share growth within trauma.
Earlier, Globus Medical launched three new products — REFLECT, MARVEL and Ossifuse. The company continues to make significant progress in launching its prone, lateral patient positioning system. As the company moves into 2024, it anticipates a strong cadence of product launches throughout the Musculoskeletal portfolio.
Globus Medical merged its business with NuVasive. The combined company forms a global musculoskeletal business, focused on rapid innovation, ...