Many are betting Ozempic will reduce the need for knee surgery. What it means if they're wrong

Investors are making a lot of bets about GLP-1 drugs, but what if those hunches are incorrect?

Medical device stocks of all kinds were pummeled over the past week as investors tried to calculate the ripple effects of new weight loss drugs. It wasn't the first rout in the sector — the pressure has persisted for several months. The fear has been that whenever you have a large group of consumers changing their habits, that will affect the types of products they buy and the services they will need.

mountain Surgery Partners shares over the past three months There are other headwinds as well for stocks such as Surgery Partners , a leading operator of surgical facilities. Benchmark's Sutherland reiterated his buy rating on the stock, which has fallen 48% since June 30. In addition to the overhang from GLP-1 weight loss medications, the company has been hurt by pressure on hospital stocks in the wake of the Kaiser Permanente strike .

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