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Globus Medical, Inc. (GMED) is a medical device company.
The firm focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address an array of spinal pathologies, anatomies, and surgical approaches.
It provides fusion products that are used in cervical, thoracolumbar, sacral, and interbody/corpectomy fusion procedures to treat degenerative, deformity, tumor, and trauma conditions. The company also offers various disruptive technology products that provide material improvements to fusion procedures, such as minimally invasive surgical techniques, as well as new treatment alternatives, which include motion preservation technologies comprising dynamic stabilization, total disc replacement, and interspinous process spacer products; regenerative biologics technologies; and interventional pain management solutions, including treatments for vertebral compression fractures.
In addition, it offers human tissue products, such as bone allografts, biomaterials, and soft tissue products for spine, orthopedics, sports medicine, dental, and wound care markets. The company sells its implants and related disposables primarily to hospitals through direct sales representatives and independent distributors in the United States and internationally.
Shares have broken out of their bullish "flag" following several positive developments for the company. Last month, the firm reported quarterly results that matched and exceeded the estimates. The firm reported results of a seven year study of its Secure-C device. The study demonstrated superiority of the SECURE-C® Cervical Artificial Disc over the current standard for the treatment of cervical disc disease, anterior cervical discectomy and fusion (ACDF), based on overall success. SECURE-C® is designed for disc reconstruction and motion preservation at the operated disc level, unlike traditional motion-eliminating fusion surgery.
Shares are heading higher in an upward trading channel. The lower boundary of the said channel coincides with the stock's 50-day moving average. Higher share prices are expected for this stock.
52-Weeks Trading Range: $27.79 - $52.18
Entry Point: $49.00
Stop Loss: $46.50
Target Price: $53.90
GMED closed at $53.00
