Globus Medical (GMED)


Market Price (8/25/2026): $84.02 | Market Cap: $11.3 BilSector: Health Care | Industry: Health Care Equipment

Globus Medical (GMED)


Market Price (8/25/2026): $84.02
Market Cap: $11.3 Bil
Sector: Health Care
Industry: Health Care Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%

Attractive yield
FCF Yield is 6.6%

Low stock price volatility
Vol 12M is 49%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Automation & Robotics. Themes include Targeted Therapies, Personalized Diagnostics, Show more.

Weak multi-year price returns
2Y Excs Rtn is -16%, 3Y Excs Rtn is -22%

Key risks
GMED key risks include [1] regulatory fallout from an FDA warning letter regarding its Excelsius GPS spine robot and [2] operational and supply chain disruptions stemming from the large-scale integration of its NuVasive acquisition.

0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
2 Attractive yield
FCF Yield is 6.6%
3 Low stock price volatility
Vol 12M is 49%
4 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Automation & Robotics. Themes include Targeted Therapies, Personalized Diagnostics, Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -16%, 3Y Excs Rtn is -22%
6 Key risks
GMED key risks include [1] regulatory fallout from an FDA warning letter regarding its Excelsius GPS spine robot and [2] operational and supply chain disruptions stemming from the large-scale integration of its NuVasive acquisition.

GMED in ETFs

Weight = GMED's share of each fund

VTI0.01%
ITOT0.01%
IWB0.01%
IJH0.26%
VB0.11%
XOVR1.5%
ROBO1.4%
MDYG0.52%
+17 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/10/2026

Globus Medical (GMED) stock has lost about 5% since 4/30/2026 because of the following key factors:

1. Analyst Price Target Adjustments. Several analysts revised their price targets downward for Globus Medical in July 2026. For instance, Truist Financial decreased its price target from $115.00 to $100.00 on July 16, while Stifel Nicolaus reduced its target from $95.00 to $80.00 on July 8. Wells Fargo also lowered its price target from $103 to $99. These adjustments by the analyst community, despite maintaining generally positive ratings, could have fostered investor caution and contributed to selling pressure, influencing the stock's decline.

2. Decline in Enabling Technologies Segment Revenue. In fiscal Q2 2026, which ended June 30, 2026, Globus Medical's Enabling Technologies segment reported net sales of $26.07 million. This represented a significant 25.9% year-over-year decrease and fell below analyst average estimates of $37.01 million for the segment. Underperformance in this innovative segment, despite overall company growth, may have raised concerns about future growth drivers and impacted investor sentiment.

Show more
Updated on 8/10/2026

Globus Medical (GMED) stock has lost about 5% since 4/30/2026 because of the following key factors:

1. Analyst Price Target Adjustments. Several analysts revised their price targets downward for Globus Medical in July 2026. For instance, Truist Financial decreased its price target from $115.00 to $100.00 on July 16, while Stifel Nicolaus reduced its target from $95.00 to $80.00 on July 8. Wells Fargo also lowered its price target from $103 to $99. These adjustments by the analyst community, despite maintaining generally positive ratings, could have fostered investor caution and contributed to selling pressure, influencing the stock's decline.

2. Decline in Enabling Technologies Segment Revenue. In fiscal Q2 2026, which ended June 30, 2026, Globus Medical's Enabling Technologies segment reported net sales of $26.07 million. This represented a significant 25.9% year-over-year decrease and fell below analyst average estimates of $37.01 million for the segment. Underperformance in this innovative segment, despite overall company growth, may have raised concerns about future growth drivers and impacted investor sentiment.

3. GAAP Earnings Per Share Decrease. For fiscal Q2 2026, Globus Medical's GAAP diluted earnings per share (EPS) was $1.10, marking a 26.2% decrease compared to the prior year's Q2. This decline was primarily due to a one-time bargain purchase gain of $110.5 million recognized in fiscal Q2 2025 related to the Nevro acquisition. While non-GAAP diluted EPS showed strong growth, the year-over-year decrease in reported GAAP earnings could have been viewed negatively by some investors focusing on headline profitability figures.

4. Reaffirmed Full-Year Revenue Guidance. Despite exceeding revenue estimates for both fiscal Q1 2026 and fiscal Q2 2026, Globus Medical only reaffirmed its full-year 2026 revenue guidance in the range of $3.18 billion to $3.22 billion. For investors who might have anticipated an upward revision to revenue guidance following two strong quarters, this decision could have been perceived as a signal of moderated growth acceleration for the latter half of the year, potentially contributing to a plateau or slight pullback in the stock.

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Stock Movement Drivers

Fundamental Drivers

The -6.8% change in GMED stock from 4/30/2026 to 8/24/2026 was primarily driven by a -7.0% change in the company's Net Income Margin (%).
(LTM values as of)43020268242026Change
Stock Price ($)90.1884.08-6.8%
Change Contribution By: 
Total Revenues ($ Mil)2,9393,1457.0%
Net Income Margin (%)18.3%17.0%-7.0%
P/E Multiple22.521.2-5.9%
Shares Outstanding (Mil)134135-0.5%
Cumulative Contribution-6.8%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/24/2026
ReturnCorrelation
GMED-6.8% 
Market (SPY)6.2%0.6%
Sector (XLV)19.7%51.7%

Fundamental Drivers

The -7.3% change in GMED stock from 1/31/2026 to 8/24/2026 was primarily driven by a -26.3% change in the company's P/E Multiple.
(LTM values as of)13120268242026Change
Stock Price ($)90.6884.08-7.3%
Change Contribution By: 
Total Revenues ($ Mil)2,7703,14513.5%
Net Income Margin (%)15.3%17.0%11.3%
P/E Multiple28.821.2-26.3%
Shares Outstanding (Mil)135135-0.4%
Cumulative Contribution-7.3%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/24/2026
ReturnCorrelation
GMED-7.3% 
Market (SPY)10.6%21.4%
Sector (XLV)13.4%51.5%

Fundamental Drivers

The 59.8% change in GMED stock from 7/31/2025 to 8/24/2026 was primarily driven by a 130.4% change in the company's Net Income Margin (%).
(LTM values as of)73120258242026Change
Stock Price ($)52.6384.0859.8%
Change Contribution By: 
Total Revenues ($ Mil)2,5113,14525.3%
Net Income Margin (%)7.4%17.0%130.4%
P/E Multiple38.821.2-45.3%
Shares Outstanding (Mil)1371351.3%
Cumulative Contribution59.8%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/24/2026
ReturnCorrelation
GMED59.8% 
Market (SPY)21.8%22.0%
Sector (XLV)35.7%33.7%

Fundamental Drivers

The 39.5% change in GMED stock from 7/31/2023 to 8/24/2026 was primarily driven by a 194.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)73120238242026Change
Stock Price ($)60.2784.0839.5%
Change Contribution By: 
Total Revenues ($ Mil)1,0693,145194.2%
Net Income Margin (%)18.8%17.0%-9.6%
P/E Multiple30.021.2-29.4%
Shares Outstanding (Mil)100135-25.7%
Cumulative Contribution39.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/24/2026
ReturnCorrelation
GMED39.5% 
Market (SPY)72.7%33.9%
Sector (XLV)36.3%36.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
GMED Return11%3%-28%55%6%-0%33%
Peers Return-7%-11%-3%7%9%1%-5%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
GMED Win Rate58%75%42%58%33%50% 
Peers Win Rate47%47%50%50%52%52% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
GMED Max Drawdown-26%-35%-45%-12%-44%-22% 
Peers Max Drawdown-25%-32%-29%-16%-22%-26% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MDT, SYK, JNJ, ZBH, OFIX. See GMED Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/24/2026 (YTD)

How Low Can It Go

EventGMEDS&P 500
2025 US Tariff Shock
  % Loss-33.6%-18.8%
  % Gain to Breakeven50.6%23.1%
  Time to Breakeven185 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-29.0%-9.5%
  % Gain to Breakeven40.9%10.5%
  Time to Breakeven177 days24 days
2023 SVB Regional Banking Crisis
  % Loss-12.8%-6.7%
  % Gain to Breakeven14.7%7.1%
  Time to Breakeven105 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-28.2%-24.5%
  % Gain to Breakeven39.3%32.4%
  Time to Breakeven168 days427 days
2020 COVID-19 Crash
  % Loss-38.0%-33.7%
  % Gain to Breakeven61.3%50.9%
  Time to Breakeven143 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-27.8%-19.2%
  % Gain to Breakeven38.5%23.8%
  Time to Breakeven305 days105 days

Compare to MDT, SYK, JNJ, ZBH, OFIX

In The Past

Globus Medical's stock fell -33.6% during the 2025 US Tariff Shock. Such a loss loss requires a 50.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventGMEDS&P 500
2025 US Tariff Shock
  % Loss-33.6%-18.8%
  % Gain to Breakeven50.6%23.1%
  Time to Breakeven185 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-29.0%-9.5%
  % Gain to Breakeven40.9%10.5%
  Time to Breakeven177 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-28.2%-24.5%
  % Gain to Breakeven39.3%32.4%
  Time to Breakeven168 days427 days
2020 COVID-19 Crash
  % Loss-38.0%-33.7%
  % Gain to Breakeven61.3%50.9%
  Time to Breakeven143 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-27.8%-19.2%
  % Gain to Breakeven38.5%23.8%
  Time to Breakeven305 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-23.7%-12.2%
  % Gain to Breakeven31.0%13.9%
  Time to Breakeven42 days62 days

Compare to MDT, SYK, JNJ, ZBH, OFIX

In The Past

Globus Medical's stock fell -33.6% during the 2025 US Tariff Shock. Such a loss loss requires a 50.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Globus Medical (GMED)

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Globus Medical, Inc. (GMED) is a medical device company that develops and commercializes a comprehensive range of healthcare solutions for patients suffering from musculoskeletal disorders. Operating in both the United States and internationally, the company's core mission is to provide innovative technologies that address complex conditions affecting the spine and other joints, aiming to improve patient mobility and quality of life.

The company's product portfolio is heavily centered on spine products, encompassing traditional fusion implants suchs as pedicle screw and rod systems, plating systems, and intervertebral spacers used to treat degenerative, deformity, tumor, and trauma conditions. GMED also offers advanced solutions for motion preservation, including dynamic stabilization and total disc replacement devices. Additionally, they provide interventional pain management solutions for vertebral compression fractures and a variety of regenerative biologic products like allografts and synthetic alternatives.

Beyond its robust spine offerings, Globus Medical has expanded its presence in the broader orthopedic market. It provides products for orthopedic trauma, including fracture plates, compression screws, and intramedullary nails, as well as comprehensive hip and knee joint replacement solutions such as modular hip stems, acetabular cups, and various knee arthroplasty implants. Ultimately, Globus Medical serves patients with musculoskeletal disorders by supplying surgeons and healthcare providers with a wide array of specialized devices and biologics.

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Here are 1-3 brief analogies for Globus Medical (GMED):

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  • Spine Products: A range of traditional fusion implants including pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating various spinal conditions.
  • Motion Preservation Technologies: Devices such as dynamic stabilization, total disc replacement, and interspinous distraction devices designed to maintain spinal motion.
  • Interventional Pain Management Solutions: Products developed to treat vertebral compression fractures.
  • Regenerative Biologic Products: Allografts and synthetic alternatives used to promote healing and regeneration.
  • Orthopedic Trauma Products: Solutions including fracture plates, compression screws, intramedullary nails, and external fixation systems for treating fractures and orthopedic injuries.
  • Hip and Knee Joint Solutions: Implants such as modular hip stems, acetabular cups, and various knee arthroplasty implants for joint replacement.
  • Human Cell, Tissue, and Cellular and Tissue-based Products: Distributed human cell, tissue, and cellular and tissue-based products.

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Major Customers of Globus Medical (GMED)

Globus Medical, Inc. (GMED) primarily sells its medical devices and solutions to healthcare institutions rather than directly to individual patients. Due to the fragmented nature of the medical device industry, Globus Medical typically does not have a single major customer that accounts for a significant portion of its revenue, nor does it typically disclose specific customer names. Instead, its customer base comprises a broad network of:

  • Hospitals: These are the primary institutions where surgical procedures utilizing Globus Medical's spine, trauma, and joint replacement products are performed.
  • Ambulatory Surgical Centers (ASCs): Outpatient facilities that perform various surgical procedures, including those requiring Globus Medical's devices.
  • Group Purchasing Organizations (GPOs): While not direct end-users, GPOs act as intermediaries, negotiating purchasing contracts on behalf of hospitals and other healthcare providers, thereby influencing where these institutions procure their medical supplies.

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Keith Pfeil, President and Chief Executive Officer

Keith Pfeil has served as President and Chief Executive Officer of Globus Medical since July 2025. He joined Globus as Chief Financial Officer in August 2019, and in 2024, he was named Executive Vice President, Chief Operating Officer, and Chief Financial Officer. Prior to joining Globus, Mr. Pfeil spent approximately 16 years at CSS Industries, Inc., a publicly traded consumer products company, where he most recently served as Executive Vice President and Chief Financial Officer.

Kyle Kline, Senior Vice President and Chief Financial Officer

Kyle Kline has served as Senior Vice President and Chief Financial Officer since July 2025. He joined Globus Medical in May 2017 as Assistant Controller and has held roles of increasing responsibility in accounting and finance, including Senior Vice President of Finance, where he led the company's day-to-day accounting, finance, treasury, and tax functions.

David C. Paul, Executive Chairman

David C. Paul is the founder of Globus Medical, having established the company in 2003. He served as Chief Executive Officer from inception until August 2017, when he transitioned to the role of Executive Chairman. Prior to founding Globus, Mr. Paul was employed at Synthes, where his last position was Director of Product Development, responsible for product development and marketing functions. He is named inventor on over 300 patents and published applications.

Kelly G. Huller, Esquire, General Counsel

Kelly Huller has served as General Counsel since December 2018. She began her career at Globus in 2006 as the company's first in-house counsel. During her tenure, Ms. Huller has led more than 10 mergers and acquisitions, including the company's acquisition of NuVasive, Inc.

Brian Kearns, Senior Vice President, Business Development and Investor Relations

Brian Kearns has served as Senior Vice President of Business Development and Investor Relations for Globus Medical since January 2015. In this role, he is responsible for sourcing, evaluating, negotiating, and integrating all mergers and acquisitions, as well as investor relations and corporate communications. Before joining Globus, Mr. Kearns founded Kearns Consulting LLC in 2009, a consulting company that provided corporate development and strategic planning services to small to mid-sized healthcare companies. His prior experience also includes serving as CFO of a publicly traded generic pharmaceutical company and a publicly traded healthcare services company, as well as holding equity research positions at Salomon Smith Barney (now Citi) and Bank of America, and financial management roles at Johnson & Johnson. An SEC complaint related to his time as CFO of MedQuist was settled in 2009.

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Here are the key risks to Globus Medical's business:

  1. Integration Risks from the NuVasive Acquisition: Globus Medical's 2023 merger with NuVasive presents significant integration challenges that could disrupt operations and hinder expected synergies. These challenges include difficulties in consolidating manufacturing, rationalizing stock-keeping units (SKUs), harmonizing ERP systems, and aligning salesforces, which can defer anticipated benefits and distract commercial teams. The company experienced supply chain disruptions in Q1 2025 due to the active integration phase, which may have impacted order fulfillment and led to increased competitive pressure. Furthermore, there is a risk of sales representative attrition due to uncertainty about roles within the combined entity. Successful integration is crucial for achieving planned cross-selling opportunities, cost efficiencies, and margin expansion.
  2. Regulatory Challenges and Compliance Issues: The medical device industry is subject to stringent regulatory requirements, and Globus Medical has recently faced compliance issues. The company received a warning letter from the U.S. Food and Drug Administration (FDA) in July 2024, following an inspection that identified deficiencies in product complaint procedures. These deficiencies included issues with complaint investigations, trending, risk reconciliation, and timely Medical Device Report (MDR) submissions, specifically pertaining to its ExcelsiusGPS® robotic system. This regulatory action led to a drop in the company's stock price and initiated an investigation into potential claims. Changes in regulations, both domestically and internationally, could also impose additional compliance costs or delay product launches.
  3. Intense Competition and Pricing Pressures: Globus Medical operates in a highly competitive medical device market, particularly in spine, orthopedics, and trauma. The company faces continuous pressure to differentiate its products from those of larger rivals such as Medtronic, DePuy Synthes, Stryker, and Zimmer Biomet. These competitors invest heavily in implants, biologics, and enabling technologies, leading to aggressive pricing strategies and the risk of Globus Medical losing key contracts with hospitals and integrated delivery networks (IDNs). Hospitals are increasingly entering into preferred or exclusive contracts with large suppliers to control costs, which can limit surgeons' choices and exacerbate pricing pressures.

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Globus Medical (NASDAQ: GMED) operates in several significant addressable markets related to musculoskeletal disorders, including spine products, orthopedic trauma, and hip and knee joint solutions.

Spine Products

The global spine market was valued at approximately $10.8 billion in 2024 and is projected to surpass $12.3 billion by 2028. Other estimates place the global spine market at $12.5 billion in 2024. The spinal implants and surgical devices market was estimated at $14.16 billion in 2024 and is expected to reach $24.50 billion by 2034, growing at a compound annual growth rate (CAGR) of 5.63%. Another report values the spinal implants market at $15.14 billion in 2025, with a projection to reach $24.22 billion by 2033, expanding at a CAGR of 6.08% from 2026 to 2033. The spinal implants and surgical devices market is expected to grow from $13.57 billion in 2025 to $18.05 billion by 2031 at a 4.86% CAGR. The global spinal implants market was valued at $11.31 billion in 2024 and is expected to reach $19.08 billion by 2032, growing at a CAGR of 6.75% from 2025 to 2032. North America accounted for the largest share of the spinal implants market in 2025.

Orthopedic Trauma Products

The global orthopedic trauma devices market is estimated to reach $11.5 billion in 2025 and is predicted to rise to $17.5 billion by 2032, at a CAGR of 6.2%. Another source indicates the global orthopedic trauma device market was valued at $7.4 billion in 2024 and is expected to reach $8.9 billion by 2030, growing at a CAGR of 2.7%. The global orthopedic trauma devices market is projected to increase from $11,140.17 million in 2024 to $17,551.67 million by 2032, reflecting a CAGR of 5.89%. The orthopedic trauma device market is set to reach $12.2 billion in 2026, with a CAGR of 6.4% expected through 2036, totaling $22.6 billion. The global trauma implants market size is projected to be $8624.5 million in 2025 and is projected to reach $14273.51 million by 2033, with a CAGR of 6.50%. The global trauma fixation devices market size was $8.76 billion in 2024 and is projected to surpass $13.03 billion by 2034, with a CAGR of 4.05%. North America is projected to hold the largest share of the orthopedic trauma devices market in 2024, accounting for 41% of the global market.

Hip and Knee Joint Solutions

The global hip and knee replacement market size was $21,412.5 million in 2024, with expectations to expand at a CAGR of 6.00% between 2024 and 2031 to reach $32,196.48 million. Another estimate places the global artificial hip and knee joints market size at $12.57 billion in 2023, projected to grow at a CAGR of 2.85% from 2024 to 2030. The total hip and knee replacements market size was $22.9 billion in 2025 and is expected to grow to $24.05 billion in 2026 at a CAGR of 5.0%, and further to $30.23 billion in 2030 at a CAGR of 5.9%. The global orthopedic large joint device market was valued at over $20.5 billion in 2023 and is expected to reach over $25.7 billion, at a CAGR of 3.3%. The global joint replacement market size was $23.56 billion in 2025 and is predicted to increase to $35.01 billion by 2035, expanding at a CAGR of 4.04% from 2026 to 2035. The global joint replacement devices market is projected to reach $31.1 billion by 2030 from $23.4 billion in 2024, at a CAGR of 4.8%. The hip replacement market alone is expected to grow from $6.92 billion in 2024 to nearly $10.24 billion by 2033, at a CAGR of 4.45% from 2025 to 2033. North America was the largest region in the total hip and knee replacements market in 2025.

AI Analysis | Feedback

Globus Medical (GMED) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and strong performance in key business segments. The company's management and industry analysts have highlighted the following drivers:

  1. Successful Integration of Acquisitions: The ongoing and successful integration of recent acquisitions, particularly NuVasive and Nevro, is expected to continue boosting Globus Medical's overall trajectory and contribute to its financial performance. The Nevro acquisition, in particular, has been noted for its profitability accretion ahead of schedule.
  2. Continued Growth and Market Share Gains in the U.S. Spine Business: Globus Medical's U.S. Spine business has consistently demonstrated strong, above-market growth and significant market share gains. This momentum is anticipated to be durable and sustained, serving as a primary organic growth engine for the company.
  3. Expansion of Enabling Technologies: The Enabling Technologies segment, which includes advanced surgical robotics and navigation systems such as ExcelsiusFlex and the Excelsius XR augmented reality headset, has shown robust performance. This segment is expected to continue its strong growth trajectory, driven by increased adoption and successful deal closures for these innovative systems.
  4. Robust New Product Pipeline and Innovation: Globus Medical emphasizes a strong commitment to innovation, with a robust pipeline of new products across its musculoskeletal portfolio. Management plans to continue launching new products to address unmet clinical needs, contributing to ongoing profitable growth and market share expansion.
  5. Sales Force Expansion and Enhanced Market Penetration: The company aims to drive growth by expanding its "high-touch sales force" and improving market penetration. This focus on commercial execution, coupled with ongoing investment in sales and marketing, is expected to increase the reach of Globus Medical's solutions both domestically and internationally.

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Share Repurchases

  • Globus Medical announced a $500 million share repurchase program authorized by its Board of Directors on May 15, 2025, which has no fixed time limit and can be suspended or discontinued at any time.
  • The company utilized this program to repurchase shares, including $225.59 million in Q4 2023, $83.52 million in Q1 2024, and $190.29 million in Q1 2025, $24.99 million in Q2 2025, $39.98 million in Q3 2025, and $44.98 million in Q4 2025.
  • The repurchase program is intended to capitalize on perceived undervaluation of the stock and reinforce shareholder value, funded by the company's cash reserves.

Share Issuance

  • Globus Medical's shares outstanding significantly increased from 0.103 billion in 2022 to 0.115 billion in 2023 (an 11.68% increase) and further to 0.138 billion in 2024 (a 20.27% increase).
  • This increase was largely due to the all-stock transaction for the NuVasive merger, where NuVasive shareholders received 0.75 of a share of Globus Medical Class A common stock for each NuVasive share.

Outbound Investments

  • In February 2023, Globus Medical announced a definitive agreement to combine with NuVasive in an all-stock transaction valued at $3.1 billion, which expanded its presence in the spine and musculoskeletal markets and aimed for approximately $170 million in cost synergies.
  • The company completed the acquisition of Nevro Corp. for $250 million in April 2025, expanding its addressable market by adding neuromodulation capabilities.
  • Globus Medical plans to pursue additional "tuck-in" acquisitions to complement its existing portfolio, focusing on specific technologies rather than very large deals.

Capital Expenditures

  • Globus Medical expects capital expenditures to be between 5% and 6% of net sales for 2026.
  • The primary focus of these expenditures includes product development, inventory and field sets, and further vertical integration of manufacturing.
  • The company made significant investments in machinery, equipment, and sets during Q1 2025 to scale internal manufacturing.

Better Bets vs. Globus Medical (GMED)

Peer Outperformance in Health Care Equipment

GMED has outperformed 71% of its 49 Health Care Equipment peers over 5Y. Health Care Equipment ranks 5th of 10 industries in Health Care by median 5Y return.
Share of Health Care Equipment constituents that GMED has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
82%
of 55 industry peers · 34.5% return
3Y
87%
of 54 industry peers · 53.5% return
5Y
71%
of 49 industry peers · 8.2% return
No Health Care Equipment peer with a comparable growth profile has beaten GMED by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Health Care Equipment is GMED's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 7 11.5%85.0%132.2% CAH 400% · MCK 348% · COR 189%
Health Care Services 20 20.9%46.0%3.9% HIMS 314% · RDNT 146% · DGX 80%
Managed Health Care 8 32.1%-1.6%3.5% OSCR 143% · HQY 64% · ELV 16%
Health Care Facilities 24 7.9%-2.8%-17.5% THC 278% · NHC 257% · ENSG 125%
Health Care Equipment ← 50 -2.9%-6.1%-21.0% POCI 10987% · UFPT 367% · GKOS 253%
Health Care Supplies 12 34.1%-12.7%-32.6% LNTH 301% · HAE 81% · MMSI 30%
Pharmaceuticals 63 4.3%6.4%-37.4% LQDA 2532% · INDV 1260% · ETON 1176%
Life Sciences Tools & Services 108 -3.6%-28.4%-72.7% SNWV 1827% · ELMD 249% · MEDP 243%
Health Care Technology 21 -21.8%-55.6%-74.4% SPOK 125% · HSTM -1% · VEEV -24%
Biotechnology 365 7.1%-26.0%-78.7% BRTX 106500% · CELZ 1629% · DNTH 1519%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

GMEDMDTSYKJNJZBHOFIXMedian
NameGlobus M.MedtronicStryker Johnson .Zimmer B.Orthofix. 
Mkt Price84.0892.90327.81271.70100.989.7996.94
Mkt Cap11.4119.0125.7654.119.40.469.2
Rev LTM3,14536,36325,83797,9298,50983317,173
Op Inc LTM6746,8275,61526,2561,390-373,502
FCF LTM7465,4264,70222,2281,402-283,052
FCF 3Y Avg4785,2703,84319,4861,307-342,575
CFO LTM9107,3305,52527,6081,743163,634
CFO 3Y Avg6147,0544,56925,0931,643103,106

Growth & Margins

GMEDMDTSYKJNJZBHOFIXMedian
NameGlobus M.MedtronicStryker Johnson .Zimmer B.Orthofix. 
Rev Chg LTM19.7%8.4%8.5%8.1%8.6%3.0%8.5%
Rev Chg 3Y Avg47.0%5.2%9.9%6.0%5.8%12.3%7.9%
Rev Chg Q5.9%9.9%9.4%6.6%4.8%3.8%6.3%
QoQ Delta Rev Chg LTM1.4%2.5%2.2%1.6%1.2%0.9%1.5%
Op Inc Chg LTM93.7%4.4%20.4%21.4%-5.8%60.3%20.9%
Op Inc Chg 3Y Avg56.5%5.8%16.4%6.7%1.4%24.9%11.5%
Op Mgn LTM21.4%18.8%21.7%26.8%16.3%-4.5%20.1%
Op Mgn 3Y Avg14.0%18.4%20.4%25.6%18.4%-9.4%18.4%
QoQ Delta Op Mgn LTM2.0%0.1%1.5%0.0%-0.5%1.2%0.7%
CFO/Rev LTM28.9%20.2%21.4%28.2%20.5%2.0%20.9%
CFO/Rev 3Y Avg22.0%20.7%19.1%27.4%20.7%1.1%20.7%
FCF/Rev LTM23.7%14.9%18.2%22.7%16.5%-3.3%17.3%
FCF/Rev 3Y Avg17.0%15.5%16.1%21.2%16.4%-4.3%16.2%

Valuation

GMEDMDTSYKJNJZBHOFIXMedian
NameGlobus M.MedtronicStryker Johnson .Zimmer B.Orthofix. 
Mkt Cap11.4119.0125.7654.119.40.469.2
P/S3.63.34.96.72.30.53.4
P/Op Inc16.917.422.424.914.0-10.717.1
P/EBIT16.917.421.725.015.9-10.117.1
P/E21.224.833.731.124.1-6.524.4
P/CFO12.516.222.823.711.124.619.5
Total Yield4.7%7.1%4.0%5.1%5.1%-15.4%4.9%
Dividend Yield0.0%3.1%1.0%1.9%1.0%0.0%1.0%
FCF Yield 3Y Avg5.1%5.0%2.9%4.6%7.1%-7.3%4.8%
D/E0.00.20.10.10.40.60.2
Net D/E-0.00.20.10.00.40.30.1

Returns

GMEDMDTSYKJNJZBHOFIXMedian
NameGlobus M.MedtronicStryker Johnson .Zimmer B.Orthofix. 
1M Rtn9.9%11.6%-0.7%3.2%10.5%-13.0%6.5%
3M Rtn-0.9%19.3%3.9%16.6%18.4%-8.9%10.2%
6M Rtn-10.0%-4.2%-14.3%11.7%2.1%-28.0%-7.1%
12M Rtn34.5%3.5%-16.0%55.3%-5.3%-32.7%-0.9%
3Y Rtn53.5%24.7%21.4%77.1%-9.9%-49.8%23.1%
1M Excs Rtn6.7%8.4%-4.0%-0.1%7.3%-16.2%3.3%
3M Excs Rtn-3.3%16.9%1.5%14.2%16.0%-11.3%7.8%
6M Excs Rtn-21.9%-16.1%-26.3%-0.2%-9.8%-39.9%-19.0%
12M Excs Rtn18.8%-14.8%-34.1%35.5%-22.4%-52.9%-18.6%
3Y Excs Rtn-22.2%-49.4%-53.7%-4.7%-88.2%-121.8%-51.5%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Musculoskeletal Solutions2,7982,3651,448927877
Enabling Technologies1411541209681
Total2,9392,5191,5681,023958


Price Behavior

Price Behavior
Market Price$84.08 
Market Cap ($ Bil)11.4 
First Trading Date08/03/2012 
Distance from 52W High-13.2% 
   50 Days200 Days
DMA Price$80.16$85.76
DMA Trendupindeterminate
Distance from DMA4.9%-2.0%
 3M1YR
Volatility41.0%48.9%
Downside Capture28.1390.33
Upside Capture20.94106.26
Correlation (SPY)-0.0%21.4%
GMED Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta0.07-0.26-0.200.490.820.90
Up Beta-1.98-1.75-1.410.230.410.80
Down Beta-0.210.630.310.520.770.75
Up Capture75%-28%-31%32%114%97%
Bmk +ve Days11223567138427
Stock +ve Days12202859116370
Down Capture81%-4%30%82%85%103%
Bmk -ve Days11212859114326
Stock -ve Days10223466135379

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GMED
GMED39.2%48.8%0.81-
Sector ETF (XLV)29.3%16.0%1.4133.8%
Equity (SPY)21.2%12.9%1.2321.4%
Gold (GLD)39.0%28.8%1.146.6%
Commodities (DBC)40.9%20.2%1.58-11.5%
Real Estate (VNQ)13.9%13.8%0.7037.7%
Bitcoin (BTCUSD)-30.4%44.2%-0.6912.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GMED
GMED3.1%38.4%0.17-
Sector ETF (XLV)6.9%15.1%0.2742.2%
Equity (SPY)12.8%17.2%0.5742.5%
Gold (GLD)20.6%18.6%0.905.9%
Commodities (DBC)10.2%19.6%0.416.8%
Real Estate (VNQ)2.4%18.9%0.0239.3%
Bitcoin (BTCUSD)11.2%52.8%0.4018.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GMED
GMED14.7%35.4%0.48-
Sector ETF (XLV)10.7%16.7%0.5243.5%
Equity (SPY)15.1%17.9%0.7245.3%
Gold (GLD)12.9%16.3%0.654.9%
Commodities (DBC)7.8%18.1%0.3513.4%
Real Estate (VNQ)5.0%20.7%0.2040.0%
Bitcoin (BTCUSD)63.1%66.2%1.039.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7312026
Short Interest: Shares Quantity6.9 Mil
Short Interest: % Change Since 7152026-2.6%
Average Daily Volume1.4 Mil
Days-to-Cover Short Interest4.9 days
Basic Shares Quantity135.1 Mil
Short % of Basic Shares5.1%

Earnings Returns History

Updated 8/17/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20261.6%6.0% 
5/7/2026-8.4%-9.2%-8.0%
2/24/20264.7%-0.2%-4.9%
1/7/20264.5%2.1%-3.0%
11/6/202535.9%36.1%43.3%
8/7/20258.5%11.0%10.1%
5/8/2025-23.0%-20.2%-16.7%
2/20/2025-4.6%-6.5%-12.5%
...
SUMMARY STATS   
# Positive161511
# Negative101114
Median Positive5.0%9.0%10.1%
Median Negative-3.0%-4.6%-5.5%
Max Positive35.9%36.1%43.3%
Max Negative-23.0%-20.2%-16.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20261.6%6.0% 
5/7/2026-8.4%-9.2%-8.0%
2/24/20264.7%-0.2%-4.9%
1/7/20264.5%2.1%-3.0%
11/6/202535.9%36.1%43.3%
8/7/20258.5%11.0%10.1%
5/8/2025-23.0%-20.2%-16.7%
2/20/2025-4.6%-6.5%-12.5%
11/5/20249.4%10.4%9.9%
8/6/20242.1%-2.5%2.5%
5/7/202420.2%22.4%28.9%
2/20/20241.6%4.2%-4.3%
11/7/2023-0.7%-0.3%-1.9%
8/3/2023-1.9%-2.4%-6.2%
5/4/20233.3%1.5%-2.0%
2/21/20230.5%-1.3%-11.6%
11/8/2022-4.2%11.7%11.5%
8/4/20226.9%11.0%-1.0%
5/10/2022-1.1%9.0%-1.1%
2/17/2022-0.1%5.1%3.4%
11/4/20211.4%-4.8%-13.1%
8/4/2021-0.9%-4.6%3.9%
5/4/20215.4%2.2%1.2%
2/17/2021-4.8%-5.0%-9.8%
10/28/20205.7%11.8%20.8%
8/5/202014.1%6.8%11.9%
SUMMARY STATS   
# Positive161511
# Negative101114
Median Positive5.0%9.0%10.1%
Median Negative-3.0%-4.6%-5.5%
Max Positive35.9%36.1%43.3%
Max Negative-23.0%-20.2%-16.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/24/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202302/21/202410-K
09/30/202311/07/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/21/202310-K
09/30/202211/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/24/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202302/21/202410-K
09/30/202311/07/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/21/202310-K
09/30/202211/08/202210-Q
06/30/202208/04/202210-Q
03/31/202205/10/202210-Q
12/31/202102/17/202210-K
09/30/202111/04/202110-Q
06/30/202108/04/202110-Q
03/31/202105/04/202110-Q
12/31/202002/17/202110-K
09/30/202010/28/202010-Q
06/30/202008/05/202010-Q
03/31/202005/07/202010-Q
12/31/201902/20/202010-K
09/30/201911/06/201910-Q

Recent Forward Guidance

Updated 8/7/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue3.18 Bil3.20 Bil3.22 Bil0 AffirmedGuidance: 3.20 Bil for 2026
2026 Non-GAAP Diluted EPS4.9555.055.3% RaisedGuidance: 4.75 for 2026

Prior: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue3.18 Bil3.20 Bil3.22 Bil0 AffirmedGuidance: 3.20 Bil for 2026
2026 Non-GAAP Diluted EPS4.74.754.86.7% RaisedGuidance: 4.45 for 2026

Q4 2025 Earnings Reported 2/24/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue3.18 Bil3.20 Bil3.22 Bil0 AffirmedGuidance: 3.20 Bil for 2026
2026 Non-GAAP Diluted EPS4.44.454.52.3% RaisedGuidance: 4.35 for 2026

Q4 2025 Earnings Reported 1/7/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue3.18 Bil3.20 Bil3.22 Bil11.1% Higher NewGuidance: 2.88 Bil for 2025
2026 Non-GAAP EPS4.34.354.414.5% Higher NewGuidance: 3.8 for 2025

Insider Activity

Updated 8/19/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Zarrilli, Stephen T DirectSell819202687.0425,000  Form
2Davidar, David D DirectSell609202680.7625,0002,019,07241,203,213Form
3Huller, KellyEVP, GC, Corporate SecretaryDirectSell227202694.5020,000  Form
4Huller, KellyEVP, GC, Corporate SecretaryDirectSell217202687.6710,000  Form
5Kline, KyleSenior Vice President, CFODirectSell1122026101.103,594  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Zarrilli, Stephen T DirectSell819202687.0425,000  Form
2Davidar, David D DirectSell609202680.7625,0002,019,07241,203,213Form
3Huller, KellyEVP, GC, Corporate SecretaryDirectSell227202694.5020,000  Form
4Huller, KellyEVP, GC, Corporate SecretaryDirectSell217202687.6710,000  Form
5Kline, KyleSenior Vice President, CFODirectSell1122026101.103,594  Form
6Norwalk, Leslie V DirectSell1122026101.102,000202,2001,053,361Form
7Norwalk, Leslie V DirectSell1216202588.854,000355,4001,103,428Form
8Kline, KyleSenior Vice President, CFODirectSell1203202590.0018,542  Form
9Huller, KellySVP, GC, Corporate SecretaryDirectSell1128202590.007,500  Form
10Davidar, David D DirectSell1113202586.0025,0002,150,00544,399,753Form
11Zarrilli, Stephen T DirectSell1113202584.2925,000  Form
12Rhoads, Ann D DirectSell1110202585.002,000170,0001,307,640Form
13Rhoads, Ann D DirectSell1110202581.008,000648,0001,408,104Form
14Rhoads, Ann D DirectSell916202558.4610,000584,6001,483,949Form

Investor Activity (13F)

Updated Aug 25, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Paradice Investment Management LLC$42.3 Mil8.0%23TRIM -7.0%13F
Varenne Capital Partners$20.5 Mil5.1%27New13F
Lightrock Netherlands B.V.$22.2 Mil4.7%39Hold13F
Parsifal Capital Management, LP$33.4 Mil4.3%17TRIM -68.3%13F
Defilade Capital Management, L.P.$30.5 Mil4.3%31ADD +32.6%13F
Madison Avenue Partners, LP$61.8 Mil2.7%27TRIM -72.7%13F
Hawk Ridge Capital Management LP$43.1 Mil1.6%48New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Hawk Ridge Capital Management LP$43.1 Mil1.6%48New13F
Varenne Capital Partners$20.5 Mil5.1%27New13F
Defilade Capital Management, L.P.$30.5 Mil4.3%31ADD +32.6%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Madison Avenue Partners, LP$61.8 Mil2.7%27TRIM -72.7%13F
Parsifal Capital Management, LP$33.4 Mil4.3%17TRIM -68.3%13F
Paradice Investment Management LLC$42.3 Mil8.0%23TRIM -7.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Madison Avenue Partners, LP$61.8 Mil2.7%27TRIM -72.7%13F
Hawk Ridge Capital Management LP$43.1 Mil1.6%48New13F
Paradice Investment Management LLC$42.3 Mil8.0%23TRIM -7.0%13F
Parsifal Capital Management, LP$33.4 Mil4.3%17TRIM -68.3%13F
Defilade Capital Management, L.P.$30.5 Mil4.3%31ADD +32.6%13F
Lightrock Netherlands B.V.$22.2 Mil4.7%39Hold13F
Varenne Capital Partners$20.5 Mil5.1%27New13F
Core Cache Last Updated: 8/24/2026