Medical Device Stocks Hit by Disappointing Guidance, Recover 900 Billion Won in Market Cap in One Day

Baxter International Inc. (NYSE: BAX) closed at $22.80 on the New York Stock Exchange, up 5.12%, restoring its market capitalization to about $11.78 billion (roughly KRW 16.5 trillion). With trading volume higher than usual, the company’s valuation increased by approximately $635 million (around KRW 900 billion) in a single day.

The stock had previously surged after Baxter reported its first-quarter 2026 results at the end of April, posting revenue of $2.701 billion—beating market expectations—and earnings per share that topped consensus estimates. However, earlier this year the company faced a sharp sell-off following disappointing 2026 profit guidance and a recall of its core infusion pump product. Since then, Baxter has been improving its fundamentals through cost reductions, portfolio realignment, and the launch of its new “Dynamo” series of smart stretchers.

Headquartered in Deerfield, Illinois, Baxter International is a global medical-device company specializing in hospital infrastructure equipment such as IV solutions, infusion pumps, and hospital beds. After spinning off its blood and biopharma businesses to focus on medical devices, the company has recently reignited its growth trajectory by expanding its smart-bed offerings and digital-health solutions.