Globus Medical, Inc. GMED is gaining from robust performance across several international markets. The company posted better-than-expected results in the third quarter of 2022. Its constant efforts to develop meaningful product innovations also buoy optimism. However, forex woes and persistent pricing pressure do not bode well.
In the past year, this Zacks Rank #3 (Hold) stock has gained 1.3% against a 15.9% fall of the industry and a 15.7% drop of the S&P 500 composite.
The renowned medical device company has a market capitalization of $7.42 billion. In the past five years, the company’s shares have gained 11.1% growth compared with the industry’s 9.3% rise. The long-term expected growth rate is estimated at 11.2% compared with the industry’s growth expectation of 16.1%.
Let’s delve deeper.
Factors at Play
Q3 Upsides: Globus Medical exited the third quarter of 2022 with better-than-expected revenues. The company noted that the third quarter is typically