Globus Medical (GMED) Launches NuVasive's NSO in Global Market
Globus Medical, Inc. GMED recently announced the launch of the Precice Bone Transport system commercially in the targeted areas by NuVasive Specialised Orthopaedics (NSO). The most recent addition to the less intrusive NSO portfolio has recently received CE marking and approval, and it is now offered in a few regions.
The recent launch will fortify Globus Medical’s Musculoskeletal Solutions.
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As a division of Globus Medical, NSO concentrates on designing and developing innovative, disruptive orthopaedic solutions for limb lengthening and complex orthopaedic reconstruction.
Precice Bone Transport is a less intrusive treatment that reduces complications for both the patient and the surgeon and is designed for various bone abnormalities. Over 250 trauma and oncology patients have benefited from the new technique developed in collaboration with top limb reconstruction surgeons worldwide.
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With the Precice magnetic adjustable technology, implants can be lengthened without surgery. Over 2,000 surgeons have implanted this tested device 15,000 times in around 45 nations.
Benefits of the NSO Launch
The NSO difference is the deep commitment of Globus Medical to making complex reconstruction simple and more reproducible. With innovation designed for strength and stability, the Precice Bone Transport system tackles a difficult process, improving patient satisfaction and streamlining the experience for surgeons.
The all-internal Precice Bone Transport device has already helped numerous patients. The dependable Precice magnetic technology will likely treat more patients without needing external fixation or amputation.
Industry Prospects
Per a report by Grand View Research, the global bone grafts and substitutes market size was valued at $ 2.80 billion in 2022 and is estimated to grow at a CAGR of 6.3% by 2030. The increasing demand for synthetic substitutes and the rising number of product approvals by various regulatory authorities are anticipated to fuel market growth.
Progress Within Musculoskeletal Business
During second-quarter 2023, Globus Medical’s Musculoskeletal Solutions revenues were up 9.7% year over year. Growth was led primarily by the company’s spine and trauma business performances.
Further, the U.S. spine grew 6% in the second quarter with notable gains across our product portfolio in biologics, MIS and pedicle screws, and 3D-printed implants. This above-market growth is driven by competitive rep productivity and robotic pull-through.
Price Performance
In the past year, GMED’s shares have declined 17.6% against the industry’s rise of 3.3%.
Zacks Rank and Key Picks
Globus Medical currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Quanterix QTRX and SiBone SIBN. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. It currently carries Zacks Rank #2 (Buy).
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2 (Buy).
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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