Why is Globus Medical stock plunging today?

Globus Medical stock plunged 12.5% in mid-day trading to reach $71.26, touching a fresh 52-week low, after the company reported Q3 2026 results that fell well short of revenue expectations and slashed its full-year outlook. Worldwide net sales for the quarter came in at $763.7 million, a 0.7% year-over-year decline, missing the Wall Street consensus of approximately $792 million by a wide margin. Management lowered full-year 2026 revenue guidance to $3.09 billion from a prior range of $3.18 billion to $3.22 billion, pointing to delayed U.S. Spine product launches, weaker-than-expected contributions from competitive rep recruiting, and continued headwinds in the Nevro business — where sales dropped 25.7% year-over-year.

On the analyst front, BMO Capital downgraded the stock from Outperform to Market Perform and slashed its price target from $94 to $78, while BTIG reiterated its Neutral rating, both citing the revenue shortfall and the diminished near-term growth outlook. Needham also trimmed its price target from $117 to $100, though it maintained a Buy rating. Adding to the negative sentiment, director Ann Rhoads sold 5,000 shares just days before the earnings release, part of a broader pattern of insider selling totaling 60,000 shares over the prior 90 days. Wells Fargo offered a counterpoint, nudging its price target up slightly to $100 and maintaining an Overweight rating, but that was not enough to offset the wave of bearish reactions.

The selloff is entirely company-driven, unfolding against a constructive broader market backdrop: the S&P 500 gained 0.8%, the Nasdaq climbed 1.5%, and the Dow was roughly flat on the day. The medical device sector did not face any macro headwinds, making GMED’s underperformance stand out sharply. The non-GAAP EPS figure of $1.23 did edge past the $1.20 consensus estimate, and the company reaffirmed its full-year EPS guidance of $4.95–$5.05, but those positives were overshadowed by the revenue miss and guidance cut.

Taken together, a significant top-line miss, a steep reduction in the annual revenue forecast, a high-profile downgrade, and recent insider selling created a powerful combination of negative catalysts that drove Globus Medical to its lowest price in over a year, even as the rest of the market moved higher.