Earnings

Edwards Lifesciences beat first-quarter expectations in every segment and raised its full-year outlook. The TAVR segment saw 11% growth as major competitors showed weakness – and with the possibility of new Medicare coverage on the horizon, the expansion may continue.

Company saw Q1 revenues grow by 6%, but shares slid as analysts questioned growth structure.

Boston Scientific beat Q1 expectations – then cut its full-year guidance by more than three percentage points. The reason is sitting in three competitors' cath labs: Medtronic, J&J and Abbott are taking PFA share faster than Boston Scientific anticipated, and the company is now saying so directly.

Danaher is keeping its M&A engine running even while integrating the $9.9bn acquisition of Masimo. CEO Rainer Blair told analysts improving valuations and a strong deal pipeline position the company to pursue further acquisitions across its diagnostics, life sciences and bioprocessing portfolio.

Intuitive Surgical outlined a layered artificial intelligence strategy for surgical robotics, built on surgical video, robotic data streams and integrated electronic medical records.

Abbott took an EPS hit to buy Exact Sciences – and Robert Ford spent the Q1 earnings call explaining why it was worth it. A colonoscopy bottleneck and underpenetrated international markets are his answer. The $3bn in incremental sales this year is just the start.

For the fourth quarter of 2025, Baxter reported $3bn in continuing operations sales, up 8% year over year on a reported basis and 3% operationally, reflecting broad-based segment growth.

Olympus released its Q3 2025 earnings on Feb. 13, lowering its full-year revenue outlook by 2% on a constant currency basis. While the company acknowledged continued pressure in the US, management said it expects performance to rebound in Q4.

Medtronic said its MiniMed Fit patch pump development remains on schedule, with plans to submit the device to the US Food and Drug Administration by the fall.

Terumo reported record-high revenue for the third quarter, driven by strong demand in North America, where revenue increased 9% excluding foreign exchange impact.

Strong full-year 2025 and Q4 sales rise 13% to $1.57bn.

Dexcom plans to prioritize global expansion in the near future after a few years in which US growth took the company’s focus, CEO Jacob Leach said in a recent earnings call.

Waters will apply its commercial execution model to the spun-off BD business to drive efficiencies across sales, service, product launches and digital channels.

Zimmer Biomet has strengthened its product pipeline and addressed prior portfolio gaps. However, successful execution of the sales force transformation now appears to be the critical factor in sustaining mid-single-digit organic growth and delivering positive operating leverage.

Illumina said it has a defined internal target for China, with potential upside if regulatory conditions improve further.

Siemens Healthineers expects China-related pressure to continue into the second quarter, with diagnostics revenue declining more sharply in the year ahead.

While executives expressed confidence in operational changes underway in China, they said those improvements were not enough to justify a more optimistic near-term forecast. As a result, GE HealthCare’s 3% to 4% total company organic growth guidance for 2026 assumes a decline in China.

Besides China pricing reforms, Roche continued to face cost pressures linked to investments in new technologies such as CGM and LumiraDx. Tariffs also weighed on performance.

Stryker’s broader orthopedics portfolio continued to benefit from strong robotic demand during the quarter, with the company reporting 28.7% organic growth in its US Orthopedics other than hips and knees business.

Siemens Healthineers expects to grow revenue by mid-single digits in fiscal 2026, assuming no contribution from China for a second consecutive year.