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Research Alert: Gmed Posts Strong Q1 On Strong Sales, Margin Expansion, And Nevro Integration

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

GMED delivered exceptional Q1 2026 results, with adjusted EPS of $1.12 (+64.7% Y/Y), significantly exceeding expectations, while net sales reached $759.9M (+27.0% Y/Y). The base business excluding Nevro grew a solid 13.2% Y/Y to $677.2M, indicating healthy organic growth across the portfolio. The standout performance was attributed to remarkable margin expansion, with adjusted EBITDA margins improving 260 bps to 32.3% and gross margins expanding 280 bps to 66.4% as the company continued realizing meaningful synergies from its NuVasive and Nevro acquisitions. Management raised 2026 adjusted EPS guidance to $4.70-$4.80 from the previous $4.40-$4.50 range while reaffirming revenue guidance of $3.18B-$3.22B, reflecting confidence in operational leverage benefits. The core spine business showed particular strength, with US Spine delivering its third consecutive quarter of over 10% growth, while Nevro integration progressed in line with expectations, contributing $82.7M in sales during the quarter.

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