Globus Medical

环球医疗

(NYSE:GMED) shares dipped today despite fourth-quarter results that came in ahead of the consensus forecast.

尽管第四季度业绩超出市场普遍预期，但（纽约证券交易所代码：GMED）的股价今日仍出现下跌。

Shares of GMED fell nearly 4% to $80.86 apiece in midday trading today.

今天中午交易时，GMED的股价下跌了近4%，至每股80.86美元。

The Audobon, Pennsylvania-based orthopedic device company reported profits of $26.5 million. That equals 19¢ per share on sales of $657.3 million for the three months ended Dec. 31, 2024.

总部位于宾夕法尼亚州奥杜邦的骨科设备公司报告利润为 2,650 万美元。在截至 2024 年 12 月 31 日的三个月内，每股收益为 19 美分，销售额为 6.573 亿美元。

Globus Medical recorded a 76.3% bottom-line gain on a sales increase of 6.6%.

Globus Medical的利润增长了76.3%，销售额增长了6.6%。

Adjusted to exclude one-time items, earnings per share came in at 84¢. That landed 9¢ ahead of expectations on Wall Street. Sales also topped estimates as experts projected $645.7 million in revenue.

调整后排除一次性项目，每股收益为84美分。这比华尔街的预期高出9美分。销售额也超过了预期，专家预计收入为6.457亿美元。

Keith Pfeil, Globus Medical’s COO/CFO, said the performance highlighted the value created through its

Globus Medical的首席运营官兼首席财务官Keith Pfeil表示，这一表现突显了通过其创造的价值

merger with NuVasive

与NuVasive合并

. The company made another M&A play this month

该公司本月再次进行了并购操作。

with its planned acquisition of spinal cord stimulation (SCS) company Nevro

通过其计划收购脊髓刺激（SCS）公司Nevro

.

。

“I’m proud of our team at Globus Medical, delivering incredible results for 2024. We made significant progress integrating the business and creating a strong foundation for future growth while remaining focused on improving patient outcomes. Our spine sales force is the most dedicated and talented team in the market.

“我为我们的Globus Medical团队感到自豪，为2024年带来了令人难以置信的成果。我们在整合业务方面取得了重大进展，为未来的增长奠定了坚实的基础，同时始终专注于改善患者预后。我们的脊柱销售团队是市场上最专注和最有才华的团队。”

Our innovation engine delivered a record amount of new product launches in 2024 and remains unmatched in our industry.” said Dan Scavilla, president and CEO. “The potential for Globus has never been greater, as we continue to redefine spine surgery and address unmet clinical needs with procedural solutions built around enabling technology.”.

“我们的创新引擎在2024年推出了创纪录数量的新产品，在行业内依然无与伦比。”总裁兼首席执行官Dan Scavilla表示，“随着我们不断重新定义脊柱手术，并通过围绕赋能技术构建的程序化解决方案来满足未被满足的临床需求，Globus的潜力从未如此巨大。”

Globus Medical expects standalone sales between $2.66 billion and $2.69 billion, with adjusted EPS between $3.40 and $3.50. With the acquisition of Nevro, the company expects sales to total between $2.8 billion and $2.9 billion. It set its post-merger adjusted EPS guidance range for between $3.10 and $3.40..

Globus Medical预计其独立销售额将在26.6亿美元至26.9亿美元之间，调整后每股收益（EPS）在3.40美元至3.50美元之间。通过收购Nevro，该公司预计销售额将总计达到28亿美元至29亿美元之间。合并后的调整后每股收益指导范围设定在3.10美元至3.40美元之间。

Analysts still have questions on Globus Medical

分析师对Globus Medical仍有疑问

BTIG analysts Ryan Zimmerman and Iseult McMahon reiterated their “Buy” rating for Globus Medical. They said there were no surprises in the quarter, but they have questions over the Nevro acquisition and Globus Medical’s plans moving forward.

BTIG分析师瑞安·齐默尔曼和伊索特·麦克马洪重申了对Globus Medical的“买入”评级。他们表示，本季度没有意外，但他们对Nevro的收购以及Globus Medical的未来计划存有疑问。

“While the majority of focus was on the NVRO transaction, strategic rationale, and financial impact, mgmt. demurred from getting too detailed given the pending closure,” the analysts wrote. “We expect meaningful accretion in FY26 though. What we thought was the rationale (cross-sales opportunities within SI-joint fusion and enabling tech) proved to not be the case as mgmt.

“虽然大部分关注点都集中在NVRO交易、战略理由和财务影响上，但管理层因交易尚未完成而避免过多细节披露，”分析师写道。“不过，我们预计在2026财年会有显著的增值。我们原本认为的理由（骶髂关节融合术与相关技术之间的交叉销售机会）被证明并非如此，管理层表示。”

sees potential for NVRO’s SCS tech in enabling tech, other neuromodulation, and(or) analytics as GMED broadens its focus across the entire continuum of care within Spine..

看到NVRO的SCS技术在启用技术、其他神经调节和（或）分析方面的潜力，因为GMED将其关注点扩展到脊柱护理的整个连续体。

“Transaction aside, GMED’s financial discipline is likely to be evident as margins inflect in FY26 from in-house manufacturing underpinned by robust FCF conversion supporting our view that shares can continue to appreciate over time.”

“撇开交易不谈，GMED的财务纪律可能会显现出来，因为从内部制造支撑的强劲自由现金流转换率将促使26财年利润率出现拐点，这支持了我们对于股价能够随着时间的推移继续升值的观点。”