Globus Medical expects 4Q revenue to top Street
AUDUBON, Pa. (AP) — Spinal implant manufacturer Globus Medical expects its fourth-quarter and full-year revenue results to beat Wall Street's expectations.
Its stock climbed more than 4 percent in Tuesday afternoon trading.
Globus Medical Inc., which went public in August, expects a 14.3 percent rise in fourth-quarter revenue to $100.5 million. Full-year revenue is seen rising 16.4 percent to $386 million.
Analysts surveyed by FactSet predict fourth-quarter revenue of $98.4 million and full-year revenue of $383.3 million.
Globus Medical expects to report fourth-quarter and full-year results by early March.
The Audubon, Pa., company makes products that treat spine disorders and for spinal fusion surgery, which corrects problems with vertebrae — the bones that make up the spine.
Globus Medical rose 52 cents, or 4.2 percent, to $12.84 in afternoon trading. The shares have traded between $10.26 and $19.93 since the company went public.