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Replies to post #247918 on Biotech Values
07/26/23 5:49 PM
…about 10% of NASH patients are actually skinny.
What’s eating medtech stocks?
Maybe Ozempic angst. Wall Street calls that a near-term buying opportunity. Longer term, it’s food for thought.
...MDT Medronic has underperformed by 8% this year...Edwards Lifesciences (EW) is lagging behind the market by 11 points this year; Boston Scientific (BSX), eight points; Abbott Laboratories (ABT), 19 points; Stryker (SYK), five points; Becton Dickinson (BDX), 12 points; Baxter International (BAX), 31 points; Johnson & Johnson (JNJ), 20 points; and Zimmer BiometHoldings (ZBH), 19 points. “Medtech pain...how much more?” read the title of a BofA Securities note this past week.
JPM has a theory, and it doesn’t involve alien pods. Medtech has turned noticeably weaker in recent weeks. The stock chartsmore or less point to July 20, and an earnings call by Intuitive Surgical (ISRG), known for its Da Vinci robots and its 18,000% stock gain over two decades. “Within one of our target procedure areas, bariatric surgery, our growth rate in the U.S. slowed during the quarter,” the company’s chief financial officer said on the call. “Some customers have indicated that they are seeing increased patient interest in weight-loss drugs.”
JPM says to scoop up medtech shares, citing strong sales and margins, promising development pipelines, and reasonable valuations. “We see this as peak GLP-1 fears, many of which aren’t well founded,” its analysts wrote.
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