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

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 quarter. Further down the road, Excelsius still holds meaningful growth potential, as do the company’s efforts in trauma and robot-assisted joint reconstruction.

Globus has declined about 5% since my last update, but that’s still better than the market’s performance and the performance of the broader medical device sector (down about 15%), not to mention other ortho competitors like NuVasive (NUVA), Stryker (SYK), and Zimmer Biomet (ZBH). Valuation is more debatable without a more sustained recovery in procedure volumes, but I still see Globus as a long-term innovation-driven winner in the ortho space.

 

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