Globus Medical (NYSE:GMED) shares gained this week after the medical device company reported strong 3rd-quarter results ahead of Wall Street’s expectations and raised its earnings outlook for the rest of the year.

Audubon, Pa.-based Globus posted profits of $20.3 million, or 22¢ per share, on sales of $107.2 million for the 3 months ended Sept. 30, for bottom-line growth of 23.2% on sales growth of 13.1%.

Analysts on Wall Street were looking for earnings per share of 19¢ on sales of roughly $106 million.

"We are very pleased with our industry-leading top-line growth and profitability this quarter. Our growth this quarter is again attributable to the increased adoption and success of newer, more disruptive products, which are designed to provide better treatment for the patient, and are safer and easier to use for the surgeon," chairman & CEO David Paul said in prepared remarks. "This quarter, we also continued our trend from the 1st half of the year in attracting and retaining key sales force talent. Our excellent product development execution and robust sales force expansion have us well positioned to continue to take share in the spine market into 2014 and beyond."

Globus stood pat on its sales forecast and raised its EPS guidance for the full year. The medical device company said it still expects sales of roughly $432 million for 2013 and boosted its EPS outlook from  81¢ to 83¢-85¢.

GMED shares gained 7.3% yesterday on the news, closing at $19.20 apiece. Shares were down 2.9% to $18.65 each as of about 10:15 a.m. today, still 4.2% above their Oct. 30 close.