Home Trending Stocks Why Globus Medical Inc (GMED) stock under-performed on Friday?

Why Globus Medical Inc (GMED) stock under-performed on Friday?

Globus Medical Inc. (GMED) shares declined 5.26% to trade at $67.4 per share in the after-market on Friday, May 21, 2021. Earlier, GMED’s stock lost 0.52% to close Friday’s session at $71.14 per share. GMED shares have risen 30.32% over the last 12 months, and they have moved down 1.52% in the past week. Over the past three months, the stock has gained 11.45%, while over the past six months, it has surged 26.65%.

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Let’s see what’s going on with Globus Medical Inc.

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Recent financial results announcement

On May 04, 2021, Globus Medical, Inc released its financial results for the quarter ended March 31, 2021.

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Q1 2021 financial highlights

  • Globus Medical reported net sales of $227.3 million in Q1 2021 compared to $190.58 million in the first quarter of 2020.
  • Total operating expenses were $177.77 million in Q1 2021 compared to $113.27 million in Q1 2020.
  • GAAP net income for the quarter was $45.3 million in the first quarter of 2021 compared to $25.9 million in Q1 2020.
  • GAAP basic earnings per share were $0.45in Q1 2021 compared to $0.26 basic EPS in Q1 2020.
  • GAAP diluted earnings per share were $0.44 in Q1 2021 compared to $0.25 diluted EPS in Q1 2020.
  • Non-GAAP adjusted EBITDA was $81.0 million in Q1 2021 compared to $50.5 million in Q1 2020.

CREO ONE™first robotic screw for spine surgeries

On April 15, 2021, Globus Medical, Inc launched CREO ONE™, the market’s first robotic screw designed for spine surgery with ExcelsiusGPS.

CREO ONE™ screw is the first of its kind to offer this level of advanced robotic integration, streamlined workflow, and increased pullout strength of 86% compared to traditional pedicle screws tapped to size.

Q4 & FY 2020 results announcement

On February 17, 2021, Globus Medical announced its financial results for the fourth quarter and the year ended December 31, 2020.

Q4 2020 financial highlights

  • Globus Medical reported net sales of $233.4 million in Q4 2020 compared to $211.67 million in Q4 2019.
  • GAAP net income for the fourth quarter of 2020 was $53.0 million compared to $ 45.53 million in Q4 2019.
  • Total operating expenses were $114.05 million inQ4 2020 compared to $113 million in Q4 2019.
  • GAAP diluted earnings per share was $0.52 in Q4 2020 compared with $0.54 diluted EPS in Q4 2019.
  • Non-GAAP diluted EPS was $0.58 in Q4 2020.
  • Adjusted EBITDA was $84.6 million in Q4 2020 compared to $72.2 million in Q4 2019.

FY 2020 financial highlights 

  • FY 2020 net sales were $789.0 million compared to $785.37 million the full year of 2019.
  • GAAP net income for the financial year 2020 was $102.3 million compared to $155.2 million in FY 2019.
  • Total operating expenses were $460.14 million in FY 2020 compared to $433.4 million in FY 2019.
  • GAAP diluted EPS was $1.01 in FY 2020 compared to GAAP diluted EPS of $1.52 in FY 2019.
  • Non-GAAP diluted EPS was $1.44 for the 2020 year.
  • Adjusted EBITDA was $233 million in FY 2020 compared to $257.2 million in FY 2019.

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Conclusion

There are no recent developments that could be linked to GMED bad performance on Friday. There are strong chances that GMED stock will perform well on Monday, based on its past developments.

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