What drove Health Care this quarter
S&P 500 · Health Care sector · updated August 31, 2026 · rolling 90-day window
The healthcare sector demonstrated strong resilience in the second quarter of 2026, characterized by robust earnings performance, with 83% of companies beating expectations. Key themes driving this momentum included strong demand in emerging therapeutic areas, strategic acquisitions, and disciplined cost management. Companies like Elevance Health and Eli Lilly showcased significant growth in their respective segments, with Elevance raising its full-year EPS guidance due to strong Medicare Advantage performance, while Eli Lilly's expanding obesity treatment portfolio contributed to a revenue increase of 8.5 billion, exceeding expectations. Additionally, Vertex Pharmaceuticals' acquisition of Crinetics Pharmaceuticals is expected to enhance revenue growth and diversify its portfolio, indicating a trend of consolidation in the sector. Despite these positive developments, some companies faced challenges. Johnson & Johnson missed expectations due to pressures in its MedTech segment, while Baxter International's cautious outlook reflected ongoing operational stabilization efforts. Overall, the sector's strong earnings reflect a positive outlook, driven by innovation and strategic execution, although investors should remain vigilant about competitive pressures and regulatory changes that may impact future growth.
Health Care companies this quarter
The individual earnings calls behind this synthesis. Each links to the company's full transcript archive — free to read.
In the second quarter of 2026, Elevance Health reported adjusted diluted earnings per share (EPS) of $7.45, exceeding expectations and prompting management to raise full-year EPS guidance to at least $27. Revenue for the quarter was $49.8 b…
In the second quarter of 2026, Johnson & Johnson (JNJ:US) reported strong financial results, with worldwide sales of $25.3 billion, reflecting a 5.6% operational growth. The company also achieved net earnings of $5.5 billion, with diluted E…
In the second quarter of fiscal year 2026, Biogen Inc. reported significant advancements in its Alzheimer's treatment pipeline, particularly with diranersen, which has shown promising results in reducing tau tangles and improving cognitive
In the second quarter of 2026, Vertex Pharmaceuticals announced a definitive agreement to acquire Crinetics Pharmaceuticals for approximately $10 billion, which is expected to enhance Vertex's revenue growth and diversify its portfolio. The…
In the second quarter of fiscal year 2026, Moderna, Inc. reported revenues of $3.5 billion, which exceeded analyst expectations of $3.2 billion, reflecting a 15% year-over-year increase. The company also reported earnings per share (EPS) of…
In the June 25, 2026 earnings call, Merck announced its definitive agreement to acquire Bio-Techne Corporation for USD 73 per share, marking a significant strategic move in the Life Science sector. The acquisition is expected to be immediat…
In the second quarter of fiscal year 2026, Vertex Pharmaceuticals (VRTX) reported strong performance driven by its cystic fibrosis (CF) franchise and the launch of JOURNAVX in the pain market. The company generated $1.2 billion in revenue,
In the Goldman Sachs Healthcare Conference on June 10, 2026, Elevance Health, Inc. provided a positive outlook for its Medicare Advantage (MA) segment, indicating no material impact from recent CMS sanctions. The company reaffirmed its guid…
In the second quarter of fiscal year 2026, Eli Lilly and Company reported robust performance driven by its expanding obesity treatment portfolio, particularly the promising data from its investigational drug retatrutide. The company achieve…
In the second quarter of 2026, Moderna, Inc. (MRNA) reported revenues of $2 billion, reflecting a year-over-year growth of 10%, in line with management's guidance. The company is optimistic about future growth driven by its expanding produc…
In the second quarter of fiscal year 2026, Bristol-Myers Squibb (BMY) reported revenues of $12.5 billion, exceeding expectations of $11.9 billion, reflecting a robust 10% year-over-year growth. Earnings per share (EPS) came in at $2.30, bea…
In the second quarter of fiscal year 2026, Gilead Sciences, Inc. reported a revenue of $5.2 billion, exceeding the consensus estimate of $4.9 billion, marking a 12% increase year-over-year. Earnings per share (EPS) came in at $1.45, beating…
In Q1 2026, Baxter International Inc. reported revenues of $3.5 billion, which is in line with expectations, but the company faces challenges with flat growth and a focus on stabilizing operations. The management indicated a cautious outloo…
In the second quarter of fiscal year 2026, Merck & Co., Inc. reported strong progress across its portfolio, with management expressing confidence in achieving over 50% of their $70 billion commercial target ahead of schedule. Revenue for th…
In the second quarter of fiscal year 2026, AbbVie Inc. reported strong financial results, with revenues of $14.5 billion, exceeding expectations by $500 million, and earnings per share (EPS) of $2.50, beating estimates by $0.15. Management
In the Q1 2026 earnings call, Johnson & Johnson (JNJ:US) reported revenue of $15.4 billion, reflecting a 7% year-over-year growth, with U.S. growth at approximately 10%. Management emphasized that they are on track for a compound annual gro…
In the first quarter of fiscal year 2026, Amgen Inc. (AMGN:US) reported a revenue increase of 6% year-over-year, reaching $6.5 billion, and non-GAAP earnings per share (EPS) rose 5% to $3.10. Management highlighted strong performance from k…
Incyte Corporation's Q2 2026 earnings call highlighted a significant transition from reliance on Jakafi to a broader portfolio of growth drivers, with the core business expected to generate approximately $1.7 billion this year, up over 30%
In the first quarter of fiscal year 2026, Revvity, Inc. reported solid revenue growth driven by its Diagnostics and Life Sciences segments. Revenue reached $1.2 billion, reflecting a 6% increase year-over-year, while earnings per share (EPS…
In the second quarter of 2026, Universal Health Services, Inc. (UHS) reported revenue of $3.2 billion, reflecting a 5% increase year-over-year, while earnings per share (EPS) came in at $1.85, above the consensus estimate of $1.75. Manageme…
In the second quarter of fiscal year 2026, Regeneron Pharmaceuticals reported strong revenue growth driven by its core franchises, particularly Dupixent and EYLEA. The company achieved revenue of $3.2 billion, exceeding expectations of $3.1…
In the second quarter of fiscal year 2026, Insulet Corporation (PODD) reported strong performance despite facing challenges from recent product recalls. The company highlighted a significant expansion in its sales force and the successful l…
In the second quarter of 2026, Zimmer Biomet Holdings, Inc. reported revenues of $8.5 billion, which aligns with expectations but reflects a challenging transition year as the company restructures its sales force. The company guided for a m…
Align Technology, Inc. (ALGN:US) reported a challenging quarter with a revenue guidance of 1% sequential growth for Q2 2026, significantly lower than historical trends of 2-3%. The company highlighted a sluggish North American retail market…
In the Q1 2026 earnings call, Pfizer Inc. (PFE:US) reported strong performance despite a significant decline in COVID-related revenues. The company achieved revenues of $16.5 billion, surpassing expectations of $15.0 billion, and delivered
In the June 6, 2026 earnings call, Pfizer Inc. (PFE:US) focused on its investigational obesity treatment, berobenatide, which is positioned as a potential first-in-class monthly GLP-1 receptor agonist. The management highlighted promising P…
In the second quarter of fiscal year 2026, The Cooper Companies reported record revenue of $1.08 billion, an 8% increase year-over-year, and non-GAAP earnings per share of $1.21, up 26%. The company has maintained its full-year revenue guid…
In the Q2 2026 earnings call, Merck & Co. reported strong performance driven by advancements in its oncology portfolio, particularly with KEYTRUDA and the promising data from recent ASCO presentations. Revenue for the quarter reached $15.2
In the first quarter of fiscal year 2026, Amgen Inc. (AMGN:US) reported revenue of $6.5 billion, representing a 6% increase year-over-year, and non-GAAP earnings per share of $3.45, up 5% YoY. Management highlighted the strong performance o…
In the second quarter of fiscal year 2026, Align Technology, Inc. (ALGN:US) reported a revenue growth of 3% to 4%, consistent with prior guidance, while maintaining an operating margin improvement of 100 basis points. The company emphasized…
In Veeva Systems' Fiscal 2027 First Quarter results for the period ending April 30, 2026, the company reported total revenue of $883 million and non-GAAP operating income of $395 million, both exceeding prior guidance. Management highlighte…
In the first quarter of 2026, Insulet Corporation (PODD:US) reported approximately $2.7 billion in global revenue, reflecting a 30% year-over-year growth in constant currency. The company also achieved nearly 40% growth in adjusted earnings…
In the second quarter of fiscal year 2026, Pfizer Inc. reported revenues of $14.2 billion, exceeding expectations of $13.5 billion, marking a 10% year-over-year increase. Earnings per share (EPS) came in at $2.50, beating estimates by $0.15…
In the first quarter of fiscal 2026, Labcorp Holdings Inc. (LH:US) reported a revenue increase of 6% and an adjusted EPS growth of 11%, prompting management to raise full-year guidance for both metrics. The company now expects revenue growt…
In the second quarter of fiscal year 2026, Waters Corporation (WAT:US) reported strong financial results, with revenue surpassing guidance by approximately $60 million and achieving double-digit growth in its legacy business. The company po…
In the second quarter of fiscal 2026, Align Technology, Inc. (ALGN:US) reported revenues of $1.05 billion, exceeding expectations of $1.02 billion, marking a 12% year-over-year increase. Earnings per share (EPS) were $1.75, beating the cons…
In the second quarter of fiscal year 2026, Solventum Corporation (SOLV:US) reported a strong performance with revenue growth driven by strategic initiatives and a robust product pipeline. The company achieved revenue of $1.4 billion, exceed…
In the Q1 2026 earnings call for Charles River Laboratories International, Inc. (CRL:US), management highlighted a strategic shift towards improved margins and growth through divestitures and acquisitions. Revenue for the quarter was not ex…
In the first quarter of 2026, IQVIA Holdings Inc. reported strong financial results, with revenue and earnings exceeding expectations. The company achieved revenue growth of 6%, with organic growth of 3%, and EPS guidance for the fiscal yea…
Agilent Technologies reported a strong Q2 2026, achieving revenue growth of 6.3% year-over-year and 14% EPS growth, exceeding management's guidance. The company experienced broad growth across its segments, particularly in diagnostics and s…
In the first quarter of fiscal year 2026, GE HealthCare Technologies Inc. reported a revenue of $4.2 billion, reflecting a 2.9% year-over-year growth, which was slightly above the guided range of 2% to 3%. However, the company adjusted its
In the fourth quarter of fiscal 2026, Medtronic plc reported revenue of $9.8 billion, reflecting a 9.9% increase year-over-year, and adjusted EPS of $1.55, exceeding expectations. For the full fiscal year, revenue reached $36.4 billion, up
In the Q4 FY2026 earnings call, ResMed Inc. reported strong financial performance with revenues of $1.2 billion, exceeding expectations and reflecting a year-over-year growth of 10%. Earnings per share (EPS) came in at $0.85, beating consen…
In the second quarter of fiscal year 2026, West Pharmaceutical Services, Inc. reported strong performance driven by its high-value product (HVP) components, which grew 18% year-over-year. Revenue guidance for the full year was maintained at…
In the first quarter of 2026, Zoetis Inc. reported revenues of $2.4 billion, which was in line with expectations but reflected a 1% year-over-year decline. The company faced headwinds from a challenging macroeconomic environment and increas…
In the Q1 2026 earnings call for Charles River Laboratories International, Inc. (CRL:US), management reported a revenue of $995.8 million, reflecting a 1.5% decline year-over-year, which was in line with expectations. Non-GAAP EPS was $2.06…