The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0905 ET - European banks are the largest consensus overweight for European investors, Bank of America's European fund manager survey for July says. A net 49% of surveyed investors say the continent's banks will outperform other sectors. By way of contrast, investors are betting that European auto companies will struggle, with a net 46% of participants betting the sector will underperform. Fund managers turned their backs on healthcare stocks in large numbers, as the net percent of managers overweight the sector dropped form 50% to 3% in July. A basket of European banking stocks is up close to 16% so far this year, compared to a year-to-date rise of 8.4% for the sector-wide Stoxx 600. BofA's survey was conducted between July 2 and July 9. (josephmichael.stonor@wsj.com)
0628 ET - Johnson & Johnson's pharmaceutical business continues to post growth, as strength in its oncology portfolio helps cushion against declining sales of Stelara. J&J says pharmaceutical sales rose 7.8% in the second quarter, citing strength in cancer drugs like Darzalex, Carvykti, Tecvayli and Rybrevant. The company also points to other areas of its drug portfolio, likeTremfya in immunology and Spravato in neuroscience. Those areas are helping it contend with lower sales of Stelara, a treatment for skin and digestive conditions, after it lost patent protection for the drug last year. (kelly.cloonan@wsj.com)
0350 ET - Suppliers of medical equipment look set to face new pricing headwinds in China after the country's National Health Commission set out plans for centralized procurement of radiotherapy, imaging and surgical tools, Citi analysts say in a research note. "This development raises further questions about the longer-term revenue and profitability potential of the Chinese market" across the med-tech sector, the analysts say. Among European med-tech companies, Sweden's Elekta and Germany's Siemens Healthineers seem the most exposed, according to Citi. Dutch peer Royal Philips doesn't compete in radio-oncology or positron emission tomography, but it is already seeing pressure through centralized procurement of ultrasound equipment, the analysts say. Shares in Elekta and Healthineers fall 1.4% and 1%, respectively, while Philips is up 0.5%. (adria.calatayud@wsj.com)
0333 ET - Roche Holding's first-half results should contain few surprises and investors might focus instead on the upcoming launch of a new breast-cancer drug, Citi analysts say in a note. The Swiss drugmaker is expected to report steady growth in first-half sales and core earnings when it releases results next week, the analysts say. Citi estimates Roche's half-year core earnings per share at 10.36 Swiss francs on sales of 30.3 billion francs. With no binary late-stage study results left this year, investors will increasingly focus on the huge opportunity for Roche's giredestrant treatment for breast cancer, the analysts say. U.S. drug regulators are due to decide on its approval by the end of November and Citi estimates giredestrant could generate $14.5 billion in peak sales. Roche shares fall 0.4%. (adria.calatayud@wsj.com)
0300 ET - Novartis is expected to report lower core earnings for the second quarter due to the effect of patent expirations for key drugs and increased research-and-development spending from recent acquisitions, Citi analysts say in a research note. The Swiss drugmaker is expected to post a 12% drop in core earnings per share at constant currency to $2.15, according to Citi's estimate. This reflects a sales hit from generic competition for its Entresto, Promacta and Tasigna drugs, as well as the consolidation of research spending from recent acquisitions such as Avidity, the analysts say. It seems too early for a guidance upgrade, they add. Beyond the results, the analysts say they will be looking at Novartis's confidence on upcoming trial results for drug candidates pelacarsen, remibrutinib and del-desiran. (adria.calatayud@wsj.com)
0159 ET - Thailand healthcare sector's earnings may be stronger in 2H, UOB Kay Hian analysts say in a research report. Healthcare operators' patient flows recovered significantly in May and Middle East patient numbers have returned to near-normal levels in June, they note. This is likely a promising buildup to the high season for Middle East patient arrivals in 3Q. Also, most healthcare operators can cope well with cost pressures by stocking up on medical supplies. The brokerage upgrades the sector's rating to overweight with top picks being Bumrungrad Hospital and Praram 9 Hospital. It has buy ratings and target prices of 236.00 baht and 24.60 baht on Bumrungrad Hospital and Praram 9 Hospital, respectively. Bumrungrad Hospital is last at 184.50 baht and Praram 9 Hospital is at 17.90 baht. (ronnie.harui@wsj.com)
2109 ET - Retirement-village operator Ryman Healthcare's 1Q trading update looks mixed to Forsyth Barr. It reported resale settlements of 265 units. That's well below estimated turnover of some 310 units, meaning Ryman's resale inventory continues to build, says analyst Will Twiss. "However, a 7% year-over-year increase in resale contracts during the quarter points to a meaningful acceleration in contracting activity over late May and June," Forsyth Barr says. That's consistent with Summerset's update last week and coincides with a stronger economic backdrop in New Zealand. Forsyth Barr retains an outperform call on Ryman but trims its price target by 6.5% to NZ$2.90/share. Ryman is down 0.5% at NZ$2.13. (david.winning@wsj.com; @dwinningWSJ)
1905 ET - Telix Pharmaceuticals' stock looks a good bet to outperform over the next month, suggests Citi. That's despite a 41% rise in its share price since the start of the year. "We open a positive 30-day catalyst watch on Telix as we think 2Q delivery will be robust and potentially ahead of consensus," analyst Laura Sutcliffe says. Citi also sees support for Telix's stock as it approaches the potential resubmission of kidney-cancer imaging agent Zircaix and potential approval and launch of brain-cancer imaging agent Pixclara. It rates Telix at "buy, high-risk." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 15, 2026 12:20 ET (16:20 GMT)
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