Globus Medical, Inc. GMED recently announced the commercial launch of the ADIRA XLIF Plate System — the first product to be compatible with the company’s expanded lateral interbody portfolio.
With the latest launch, GMED has achieved a milestone in its integration journey. This should help the company to boost its procedural innovation in lateral spine surgery.
About ADIRA XLIF Plate System
The ADIRA XLIF Plate System redefines lateral plating by offering simplified insertion workflows and a rigid coupling mechanism. The system confidently aligns plates over interbody spacers to enhance construct stability.
The ADIRA XLIF Plate System is compatible with bone screws and lateral MIS anchors. It also offers procedural versatility for bone fixation options as well as interbody spacer types.
More on ADIRA Plate-Spacer Assemblies
ADIRA plates are assembled to lateral lumbar interbody fusion devices (HEDRON L, TransContinental, RISE-L, Modulus XLIF and Cohere XLIF) using an alignment screw to create an ADIRA Plate-Spacer assembly.
When assembled to HEDRON L, TransContinental, or RISE-L Spacers, the plate-spacer assembly is indicated for use at one or more levels of the lumbosacral spine (L1-L5). However, when assembled to Modulus XLIF or CoRoent, the plate-spacer assembly takes on the indications of the interbody device.
ADIRA Plate-Spacer provides structural stability in skeletally mature individuals following discectomy. It is intended to be used with screws and/or anchors, which accompany the implants. ADIRA Plate-Spacers are to be filled with autograft and/or allogenic bone graft comprised of cancellous and/or corticocancellous bone.
ADIRA Lateral Plate System comes with ADIRA 2-Hole and 4-Hole Plates. These are intended for use in treating thoracolumbar spinal instability caused due to fracture, tumor, degenerative disc disease, scoliosis, kyphosis, lordosis, spinal stenosis, or failed previous spinal surgery.
Industry Prospects
Per a Fact.Mr report, the global Spinal Surgery Product market was valued at $11 billion in 2022 and is expected to reach $15.5 billion by 2030, at a CAGR of 4.3%. The primary factor driving the market growth is the increasing demand for spinal implants and orthopedic spine devices, combined with the decreasing cost of products. Rising cases of spinal surgeries and advancements in technology also support market growth.
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Globus Medical’s latest commercial launch turns out to be in favor of market growth.
Other Recent Developments
In July, Globus Medical received 510(k) clearance from the Food and Drug Administration (“FDA”) for its ExcelsiusFlex with Total Knee Arthroplasty (“TKA”) application and ACTIFY 3D Total Knee System.
At the beginning of this fiscal year, the company launched several new products, such as the DuraPro and VERZA power tool systems, the Reline 3D system for complex spinal deformity, the ANTHEM Distal Radius system with additional plating options and the ADIRA Aflex Plate system.
Price Performance
Year to date, shares of GMED have risen 30.6% against the industry's 9.1% decline.
Zacks Rank and Key Picks
Globus Medical currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Intuitive Surgical ISRG, TransMedics Group TMDX and Quest Diagnostics DGX. While Intuitive Surgical and TransMedics sport a Zacks Rank #1 (Strong Buy) each, Quest Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical’s shares have surged 67.9% in the past year. Estimates for the company’s earnings have remained constant at $6.67 per share for 2024 in the past 30 days.
ISRG’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.97%. In the last reported quarter, it posted an earnings surprise of 16.34%.
Estimates for TransMedics’ 2024 EPS have moved up 48.1% to $1.20 cents in the past 30 days. Shares of the company have soared 163.7% in the past year compared with the industry’s 12.3% growth.
TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for Quest Diagnostics’ 2024 EPS have increased 0.3% to $8.88 in the past 30 days. In the past year, shares of HAE have risen 14.6% compared with the industry’s 19.5% growth.
In the last reported quarter, DGX delivered an earnings surprise of 1.73%. The company has a trailing four-quarter average earnings surprise of 3.31%.
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Today, See These 5 Potential Home Runs >>Quest Diagnostics Incorporated (DGX) : Free Stock Analysis Report
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Globus Medical, Inc. (GMED) : Free Stock Analysis Report
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