Globus Medical’s (GMED) Got A Spine…
Shares of Globus Medical Inc. (GMED) closed at an all-time high of $57.18 on Friday (Dec.6), and are up 32 percent year-to-date.
Globus Medical is a medical device company marketing implantable devices, disposables, and unique instruments used in an expansive range of spine, orthopedic trauma, hip, knee, and extremity procedures.
The Company has grown its net income, revenue, and gross profit over the past two years and expects the momentum to continue as can be seen from the upbeat outlook.
|Sales||$563.9 Mln||$635.9 Mln||$712.9 Mln|
|Net income||$104.34 Mln||$107.34 Mln||$156.47 Mln|
|Gross Profit||$429 Mln||$485 Mln||$553 Mln|
In the third quarter ended September 30, 2019, the Company’s GAAP net income rose to $38.3 million or $0.38 per share from $35 million or $0.35 per share in the third quarter of 2018. On a non-GAAP basis, the net income in the third quarter of 2019 was $43 million or $0.43 per share compared to $39 million or $0.39 per share in the year-ago quarter.
The net sales in the recent third quarter jumped to $196 million while gross profit increased to $150 million. This compares with sales of $169 million and gross profit of $131 million in the year-earlier quarter.
Looking ahead to full-year 2019, Globus Medical expects to report non-GAAP earnings per share of $1.72 and sales of $783 million. The Company has boosted its 2019 revenue outlook twice this year.
Founded in 2003, Globus Medical went public on the New York Stock Exchange in August 2012, offering its shares at a price of $12 each.
In the last 1 year, GMED has traded in a range of $38.01 to $57.22. The stock closed Friday’s (Dec.6) trading at $57.18, up 0.51%.
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