Globus Medical: Nevro Acquisition & Market Expansion Driving Our ‘Outperform’ Rating!

Globus Medical, a company specializing in medical devices and technology, closed 2024 with notable positive performance metrics, as illustrated in their financial results. Revenue achieved a record high of $2.519 billion, marking an impressive 61% increase compared to the prior year. This was accompanied by an increase in non-GAAP EPS to $3.04, a substantial rise of 31% even with a 20% expansion in diluted shares versus the previous year. The company’s free cash flow also reached an all-time high at $405 million, up by 145% from the prior year. This robust cash flow is aimed at facilitating a return to a debt-free status by the end of Q1 2025. In terms of operational growth, the company placed the highest number of robotic imaging systems and introduced 18 new products over the year, potentially setting up further growth avenues.