Despite Earnings Surprise... $700 Million Vanishes from Spine Robot Surgery Stocks in a Day

Shares of spinal implant and robotic surgery equipment maker Globus Medical Inc. (NYSE: GMED) plunged 6.55% on May 8 on the New York Stock Exchange, closing at $79.50. The company’s market capitalization fell to about $8.95 billion (roughly KRW 12 trillion), erasing around $550 million (approximately KRW 700–750 billion) in value in a single session. Trading volume was approximately 3.42 million shares.

In its first quarter of fiscal 2026, Globus Medical reported revenue of $759.85 million and adjusted EPS of $1.12, both topping consensus estimates. The company also raised its full-year adjusted EPS guidance to $4.70–4.80. Nevertheless, the stock dipped as much as 8% intraday following the results amid profit-taking and technical selling. Major brokerages including Needham and Barclays have maintained Buy or Overweight ratings and boosted their price targets to $117–$123, underscoring Wall Street’s still-favorable view of the company’s fundamentals.

Founded in 2003 and headquartered in Audubon, Pennsylvania, Globus Medical specializes in musculoskeletal medical devices—spinal and orthopedic implants, surgical instruments, and robotic navigation systems. After acquiring NuVasive in 2023 and integrating Nevro in 2025, the company has risen to become the No. 2 player in the global spine market. Leveraging synergies from these major deals and its robotic and digital surgery platforms, Globus Medical is targeting high growth in 2026 with projected revenue of $3.18–3.22 billion and an adjusted EBITDA margin of around 30%.