Globus Medical, Inc. (GMED) A Cheap Robotics Stock Firing on Earnings and Revenue Growth

Globus Medical, Inc. (NYSE:GMED) is one of the cheap robotics stocks to buy right now. On May 18, Citizens reiterated a Market Perform rating on Globus Medical (NYSE:GMED) on first-quarter results exceeding expectations.

The impressive results were characterized by 27% overall revenue growth and record earnings. Organic revenue was up 13%, driven by share gains and procedural volume strength in core spine. Consequently, worldwide revenues totaled $759.9 million, as base business net sales excluding Nevro totaled $677.2 million.

Robust revenue growth came as Globus Medical’s Musculoskeletal Solutions and Enabling Tech segments achieved broad-based growth in the quarter. Revenue in the Spine channel was up 10%, marking the third consecutive quarter of 10% growth. Net income in the quarter totaled $124.3 million as diluted earnings per share increased 64.7% to $1.12.

Earnings beat estimates by 22%, driven by higher sales. International Spine revenue was also up by 10%. For the full year, Globus Medical expects revenue to range between $3.18 billion and $3.33 billion. It has also updated its non-GAAP diluted EPS to between $4.70 and $4.80, up from the previous guidance of $4.40 to $4.50.

Globus Medical, Inc. (NYSE:GMED) develops advanced surgical robotics and navigation platforms designed to improve the accuracy, safety, and efficiency of orthopedic, spinal, and cranial procedures. Their technology acts as a “third hand” for surgeons, combining rigid robotic arms with real-time tracking.

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