600 Billion Disappeared in One Day: What Happened to the Spine Implant Leader?

U.S. medical device company Globus Medical (GMED) saw its share price close at $79.25 on the New York Stock Exchange on June 30, down about 5.6% from the previous day.

Trading volume was approximately 1.43 million shares, and market capitalization stood at about $8.97 billion (roughly KRW 12 trillion), meaning roughly $475 million (KRW 600–700 billion) in value was wiped out in a single day.

According to a MarketBeat report on the same day, HSBC made a new purchase of 25,654 shares of Globus Medical in Q4 last year—an investment of about $2.25 million (approximately KRW 3 billion). Institutional ownership exceeds 95%, and Wall Street analysts’ average price target is $105 with a “Moderate Buy” rating. (marketbeat.com)

In its Q1 2026 results announced on May 7, the company reported global revenue of $759.9 million and GAAP net income of $124.3 million—equivalent to roughly KRW 1 trillion and KRW 170 billion, respectively. It reaffirmed its full-year revenue guidance of $3.18–3.22 billion (about KRW 4.5 trillion) and raised its non-GAAP EPS target to $4.70–4.80. (globenewswire.com)

Founded in 2003 and based in Audubon, Pennsylvania, Globus Medical is an orthopedic medical-device company that designs and manufactures spine and musculoskeletal implants, as well as robotic surgery and navigation systems, supplying hospitals and surgeons worldwide. (en.wikipedia.org)

After completing a merger with competitor NuVasive in 2023, the company further expanded its spine-surgery and neurostimulation portfolio by acquiring pain-management device maker Nevro. The success of integrating these acquired assets is seen as a key variable for its future growth and valuation. (en.wikipedia.org)