AUDUBON, Pa. - Globus Medical , Inc. (NYSE: NYSE:GMED), a prominent player in the musculoskeletal solutions market with a market capitalization of $11.78 billion, has reported a 6.6% sales increase for Q4 2024 compared to the same period in 2023, with sales reaching approximately $657.0 million. The company's full-year sales for 2024 also saw a significant rise of 60.6% to approximately $2.52 billion, contributing to an impressive 55.63% stock return over the past year according to InvestingPro data.
This performance marks a notable year for Globus Medical (TASE:PMCN), particularly following its merger with NuVasive (NASDAQ:NUVA), which the company believes has fortified its sales force and product offerings in the spine industry. The company maintains strong financial health, earning a "GREAT" overall score from InvestingPro, with liquid assets exceeding short-term obligations and moderate debt levels. President and CEO Dan Scavilla highlighted the company's record number of product launches and the highest placements of Enabling Technology as key achievements of 2024.
Looking ahead, Globus Medical has established its revenue guidance for the full year 2025 to be between $2.66 billion and $2.69 billion. The company also anticipates a fully diluted non-GAAP earnings per share in the range of $3.40 to $3.50. These preliminary figures are based on management's initial analysis and are subject to final adjustments. Currently trading near its 52-week high of $87.22, detailed analysis from InvestingPro suggests the stock is fairly valued, with 12 additional exclusive insights available to subscribers.
Keith Pfeil, COO-CFO of Globus Medical, expressed confidence in building upon the past year's successes and driving accelerated growth across the company's portfolio. The official financial results for the fourth quarter and full year 2024 are expected to be released on February 20, 2025, after the market close.
The company's forward-looking statements reflect an ambition to become the leading musculoskeletal technology company globally by developing products that promote patient healing. However, these projections are subject to various risks and uncertainties that could impact actual results.
Globus Medical's financial measures, such as non-GAAP net income and non-GAAP diluted earnings per share, are intended to provide additional insights into the company's performance by excluding certain items that may not reflect ongoing business trends. These non-GAAP measures are not in conformity with U.S. GAAP and may vary from other companies' measures.
This news is based on a press release statement and should be considered in the context of the risks and uncertainties outlined by the company, including those related to the integration of the NuVasive business and market conditions.
In other recent news, RBC Capital Markets has projected a positive outlook for the Medical Supplies & Devices sector for 2025, highlighting stocks like Boston Scientific (NYSE:BSX) and Intuitive Surgical (NASDAQ:ISRG). The firm anticipates significant upside opportunities in stocks such as DexCom (NASDAQ:DXCM), Medtronic (NYSE:MDT), and Edwards Lifesciences (NYSE:EW). In other recent developments, Inspire Medical Systems (NYSE:INSP) reported a 33% increase in revenue to $203.2 million and a net income of $18.5 million.
Roth/MKM has adjusted its price target for Globus Medical, maintaining a Buy rating on the stock. The firm anticipates continued outperformance due to merger-related synergies and top-line growth. Moreover, BTIG has increased its price target for Globus Medical, reaffirming its Buy rating and highlighting growth opportunities in the expansion of robotics.
Morgan Stanley (NYSE:MS) also sees growth opportunities for Globus Medical in the expansion of robotics, specifically the upcoming ExcelsiusFlex stock. The firm estimates that each 1% share gain in the procedure market could translate to over $11 million in revenue. Finally, Globus Medical reported a significant sales increase to $626 million, marking a 63% growth year-over-year, with non-GAAP EPS reaching a record high of $0.83, up 45%.
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