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Last $25.51 USD
Change Today -0.26 / -1.01%
Volume 234.2K
GMED On Other Exchanges
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

globus medical inc - a (GMED) Snapshot

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04/13/15 - $26.07
52 Week Low
08/6/14 - $17.45
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globus medical inc - a (GMED) Details

Globus Medical, Inc., a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. It offers products that address an array of spinal pathologies, anatomies, and surgical approaches. The company provides fusion products that are used in cervical, thoracolumbar, sacral, and interbody/corpectomy fusion procedures to treat degenerative, deformity, tumor, and trauma conditions. It also offers 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, such as dynamic stabilization, total disc replacement and interspinous process spacer products, and advanced biomaterials technologies; and interventional pain management solutions comprising treatments for vertebral compression fractures. The company has received pre-market approval for SECURE-C Cervical Artificial Disc; and conducting other clinical trials for ACADIA Facet Replacement System, a motion preserving anatomic reconstruction of the facet joint intended for the treatment of spinal stenosis, as well as TRIUMPH Lumbar Disc, a motion preserving disc replacement inserted obliquely into the disc space from a posterolateral approach to address posterior spinal pathology and maintain important anterior anatomical structures. It also 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 sales representatives and independent distributors in the United States and internationally. Globus Medical, Inc. was founded in 2003 and is headquartered in Audubon, Pennsylvania.

900 Employees
Last Reported Date: 02/26/15
Founded in 2003

globus medical inc - a (GMED) Top Compensated Officers

Co-Founder, Chairman, Chief Executive Officer...
Total Annual Compensation: $405.3K
President, Chief Operating Officer, Director ...
Total Annual Compensation: $337.8K
Co-Founder, Senior Vice President of Operatio...
Total Annual Compensation: $234.7K
Executive Vice President of U.S. Sales and Sa...
Total Annual Compensation: $309.3K
Compensation as of Fiscal Year 2014.

globus medical inc - a (GMED) Key Developments

Globus Medical, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015

Globus Medical, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported sales of $131,604,000 against $114,210,000 a year ago. Operating income was $38,520,000 against $32,242,000 a year ago. Income before income taxes was $38,173,000 against $32,487,000 a year ago. Net income was $24,648,000 or $0.26 per basic and diluted share against $21,139,000 or $0.22 per diluted share a year ago. Net cash provided by operating activities was $34,670,000 against $29,232,000 a year ago. Purchases of property and equipment were $7,228,000 against $6,164,000 a year ago. Adjusted EBITDA was $46,316,000 against $42,055,000 a year ago. Non-GAAP net income was $24,669,000, or $0.26 per diluted share, as compared to $22,787,000, or $0.24 per diluted share, a year ago. Non-GAAP free cash flow was $27,442,000 against $23,068,000 a year ago. EBITDA was $43,569,000 against $37,583,000 a year ago. For the year 2015, the company increased both sales and eps guidance and now expects sales to be approximately $514 million and diluted earnings per share to be approximately $1.02 per share.

Globus Medical Appoints Daniel T. Scavilla as Senior Vice President and Chief Financial Officer, Effective May 4, 2015

Globus Medical, Inc. announced it appointed Daniel T. Scavilla as its Senior Vice President and Chief Financial Officer effective May 4, 2015. Mr. Scavilla joins Globus after a 28-year career with Johnson & Johnson (JNJ), in which he held a wide variety of financial management positions with increasing responsibility. For the last three years he was CFO, Global Vice President Finance & Business Operations at JNJ’s Vision Care Division.

Globus Medical, Inc. Announces Auditor Changes

On April 16, 2015, KPMG LLP orally notified Globus Medical, Inc. that upon the completion of KPMG's review of the Company's consolidated financial statements for the quarterly reporting period ended March 31, 2015 and the filing of the related Quarterly Report on Form 10-Q, KPMG declines to stand for reelection as the independent registered public accounting firm for the Company. KPMG's decision was accepted by the audit committee of the Company's board of directors. The audit reports of KPMG on the consolidated financial statements of the Company and its subsidiaries as of and for the fiscal years ended December 31, 2014 and 2013 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. During the fiscal years ended December 31, 2014 and 2013, and the subsequent interim period through April 16, 2015 there were no (i) disagreements between the Company and KPMG on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which, if not resolved to the satisfaction of KPMG, would have caused KPMG to make reference thereto in its reports on the consolidated financial statements for such years, or (ii) reportable events" as that term is defined in Item 304(a)(1)(v) of Regulation S-K.


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Price/Book 3.9x
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