The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how medical devices & supplies - specialty stocks fared in Q4, starting with Globus Medical (NYSE: GMED).
The medical devices industry operates a business model that balances steady demand with significant investments in innovation and regulatory compliance. The industry benefits from recurring revenue streams tied to consumables, maintenance services, and incremental upgrades to the latest technologies, although specialty devices are more niche. The capital-intensive nature of product development, coupled with lengthy regulatory pathways and the need for clinical validation, can weigh on profitability and timelines. In addition, there are constant pricing pressures from healthcare systems and insurers maximizing cost efficiency. Over the next several years, one tailwind is demographic–aging populations means rising chronic disease rates that drive greater demand for medical interventions and monitoring solutions. Advances in digital health, such as remote patient monitoring and smart devices, are also expected to unlock new demand by shortening upgrade cycles. On the other hand, the industry faces headwinds from pricing and reimbursement pressures as healthcare providers increasingly adopt value-based care models. Additionally, the integration of cybersecurity for connected devices adds further risk and complexity for device manufacturers.
The 7 medical devices & supplies - specialty stocks we track reported a mixed Q4. As a group, revenues missed analysts’ consensus estimates by 2.1%.
In light of this news, share prices of the companies have held steady as they are up 1.8% on average since the latest earnings results.
Best Q4: Globus Medical (NYSE: GMED)
With operations spanning 64 countries and a portfolio of over 10 new products launched in 2023 alone, Globus Medical (NYSE: GMED) develops and sells implantable devices, surgical instruments, and technology solutions for spine, orthopedic, and neurosurgical procedures.
Globus Medical reported revenues of $826.4 million, up 25.7% year on year. This print exceeded analysts’ expectations by 3.2%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ full-year EPS guidance estimates and an impressive beat of analysts’ revenue estimates.
“Momentum built throughout 2025 accelerated in the fourth quarter, capping off a strong finish to the year with double-digit sales and earnings growth,” commented Keith Pfeil, President and Chief Executive Officer.
Globus Medical scored the biggest analyst estimates beat and fastest revenue growth of the whole group. Unsurprisingly, the stock is up 3.1% since reporting and currently trades at $93.46.
Haemonetics (NYSE: HAE)
With roots dating back to 1971 and a mission to improve blood-related healthcare, Haemonetics (NYSE: HAE) provides specialized medical devices and software for blood collection, processing, and management across plasma centers, blood banks, and hospitals.
Haemonetics reported revenues of $339 million, down 2.7% year on year, outperforming analysts’ expectations by 2.4%. The business had a strong quarter with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ revenue estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 9.1% since reporting. It currently trades at $59.93.
Is now the time to buy Haemonetics? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: STAAR Surgical (NASDAQ: STAA)
With over 2.5 million implants performed worldwide, STAAR Surgical (NASDAQ: STAA) designs and manufactures implantable lenses that correct vision problems without removing the eye's natural lens.
STAAR Surgical reported revenues of $57.8 million, up 18.1% year on year, falling short of analysts’ expectations by 23.8%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EPS estimates.
STAAR Surgical delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 35.7% since the results and currently trades at $25.67.
Read our full analysis of STAAR Surgical’s results here.
Inspire Medical Systems (NYSE: INSP)
Offering an alternative for the millions who struggle with traditional CPAP machines, Inspire Medical Systems (NYSE: INSP) develops and sells an implantable neurostimulation device that treats obstructive sleep apnea by stimulating nerves to keep airways open during sleep.
Inspire Medical Systems reported revenues of $269.1 million, up 12.2% year on year. This print beat analysts’ expectations by 1.1%. It was a strong quarter as it also put up a beat of analysts’ EPS estimates.
Inspire Medical Systems achieved the highest full-year guidance raise among its peers. The stock is down 17.4% since reporting and currently trades at $56.33.
Read our full, actionable report on Inspire Medical Systems here, it’s free.
Integer Holdings (NYSE: ITGR)
With its name reflecting the mathematical term for "whole" or "complete," Integer Holdings (NYSE: ITGR) is a medical device outsource manufacturer that produces components and systems for cardiac, vascular, neurological, and other medical applications.
Integer Holdings reported revenues of $472.1 million, up 5% year on year. This number surpassed analysts’ expectations by 2%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ full-year EPS guidance estimates.
The stock is flat since reporting and currently trades at $86.
Read our full, actionable report on Integer Holdings here, it’s free.
Market Update
Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?
These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.
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