Globus Medical Q3 sales fall 0.7%, miss estimates; adjusted EPS beats

Overview

• U.S. musculoskeletal tech firm's Q3 sales declined 0.7% yr/yr, missing analyst expectations

• Adjusted EPS for Q3 rose 4.4% and beat analyst expectations

• Company authorized $500 mln increase to share repurchase program

Outlook

• Globus Medical lowers 2026 revenue forecast to $3.09 bln from $3.18-$3.22 bln

• Company maintains 2026 non-GAAP EPS guidance at $4.95-$5.05

Result Drivers

• SLOWER U.S. SPINE GROWTH - Co said U.S. Spine segment grew 2% in Q3, slowed by tough prior year comparisons

• ENABLING TECHNOLOGIES - Co reported 24% revenue growth in Enabling Technologies segment, with 73% more robot and navigation units deployed

• LOWER COSTS - Co attributed higher net income to reduced cost of sales and operating expenses

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for Globus Medical, Inc. is $100.00, about 14.8% above its November 4 closing price of $87.10

• The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads

• Nov 4 - Zimmer Biomet Q3 sales beat estimates, raises FY outlook

• Nov 2 - SI-BONE Q3 revenue rises 14.5%, slightly beats estimates

• Nov 4 - Edwards Lifesciences Q3 sales beat on TMTT portfolio adoption

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)