At its 1st-ever investor day Nov. 12, Audubon, Pa.-based Globus said it expects to post earnings per share of $1.07 on sales of $539 million. The company also said it’s targeting a 13% compound annual growth rate for the top line and a 14% CAGR for EPS over the next 5 years.
The robotics plan calls for an FDA submission during the 1st half of 2016 as Globus hires the leadership for its robotics sales team. The latter half of next year is slated for the hiring of the rest of the team, with “significant revenue” expected in 2017, Globus said.
Leerink Partners analyst Richard Newitter said the Globus robot is designed to work with any pedicle screw, “but more optimally with GMED products and should help facilitate [minimally invasive surgery].”
“One key difference vs. some competitive systems is that it has navigation,” Newitter wrote in a Nov. 13 note to investors.