What drove Health Care this quarter
S&P 500 · Health Care sector · updated September 7, 2026 · rolling 90-day window
The Health Care sector exhibited robust performance this quarter, with 85% of companies beating earnings expectations. Key themes driving this positive momentum include strong demand for innovative treatments, strategic acquisitions, and disciplined cost management. Elevance Health, for instance, raised its full-year EPS guidance, buoyed by growth in its Medicare Advantage segment, despite facing challenges in Medicaid management. Johnson & Johnson, while missing expectations, still raised operational sales growth guidance, highlighting strong momentum from new product launches in oncology and immunology. On the other hand, Vertex Pharmaceuticals reported a significant acquisition of Crinetics Pharmaceuticals, which is expected to enhance its portfolio and revenue growth potential. Meanwhile, Moderna's strong revenue growth, driven by demand for mRNA-based therapies, showcases effective management of its product pipeline amid competitive pressures. Divergence in performance is evident, with companies like Biogen and Baxter International facing challenges; Biogen's inline results reflect ongoing regulatory hurdles, while Baxter struggles with flat growth and operational stabilization. Overall, the sector's outlook remains positive, driven by innovation and strategic positioning, although regulatory challenges and competitive pressures warrant close monitoring.
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 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 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, 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…