Globus MedicalGlobus Medical beat Q2 revenue and EPS estimates with 5.9% revenue growth and raised full-year EPS guidance.
Globus Medical reported second-quarter revenues of $789.6 million, up 5.9% year on year and 0.9% above analysts' expectations, as the medical devices and supplies specialty industry posted a strong quarter overall. The company also beat analysts' full-year EPS guidance estimates and their quarterly EPS estimates, with President and Chief Executive Officer Keith Pfeil citing 6% overall revenue growth, or 9% excluding Nevro, driven by share gains in US Spine, up 7%, and International Spine, up 14% as-reported and 12% on a constant currency basis. Despite the beat, Globus Medical shares are down 8.8% since reporting and trade at $73.94. Across the seven specialty medical device stocks tracked, group revenues beat consensus by 2.1%, with Inspire Medical Systems posting the highest full-year guidance raise of the group and STAAR Surgical delivering the biggest analyst estimate beat and fastest revenue growth, while Enovis turned in the weakest performance against estimates and the weakest guidance update. Inspire Medical Systems shares are up 32.3% since reporting at $69.08, Haemonetics is up 27.8% at $106.86, STAAR Surgical is down 21.8% at $19.87, and Enovis is down 39.6% at $18.24.
Globus MedicalGlobus Medical beat Q2 revenue and EPS estimates with 5.9% revenue growth and raised full-year EPS guidance.
Enovis CorpEnovis turned in the weakest performance against estimates and the weakest guidance update among the tracked medical device stocks.
Inspire Medical Systems IncInspire Medical Systems posted the highest full-year guidance raise of the tracked medical device group.
STAAR Surgical CompanySTAAR Surgical delivered the biggest analyst estimate beat and fastest revenue growth, yet its shares are down 21.8% since reporting.
Haemonetics CorporationHaemonetics shares are up 27.8% since reporting, cited among the strong specialty medical device group results.