Globus Medical Showing Some Reacceleration And Innovation Can Continue To Drive Growth

Stephen Simpson profile picture
Stephen Simpson
18.41K Followers

Summary

  • Globus showed reacceleration and share growth in the U.S. spine market in the third quarter, as technology (robotics, imaging/navigation) continues to drive implant share growth.
  • There's room for spinal volumes to recover further (toward pre-pandemic norms), and the Excelsius3D imaging system should continue to ramp from here.
  • Major joint reconstruction could be the next major driver for the company with a 2H'23 robotic system launch.
  • Valuation is mixed, though a fair value in the $70's seems reasonable and investors are likely to respond favorably to further share growth in the spine market.
Central Organ of Human Nervous System Brain Anatomy

magicmine

Procedure volumes aren’t yet back to normal in spinal surgery, but the market continues to reward innovation and Globus Medical (NYSE:GMED) is reaping the benefits, as the company started to separate itself from the pack again in the third

This article was written by

Stephen Simpson profile picture
18.41K Followers
Stephen Simpson is a freelance financial writer and investor. Spent close to 15 years on the Street (sell-side, buy-side, equities, bonds); now a semi-retired raccoon rancher. That last part isn't entirely true. Probably.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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