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The CGM prescription trends in the U.S. look weak. Could you talk about what is happening in the CGM market?
you're guiding a little bit lower today. I assume that's related to nutrition. Can you talk about what's changed since the last call
I'd love to hear your high-level thoughts on next year if you're still comfortable with consensus
I'd love to get your reaction to the proposed competitive bidding for CGM and what that could mean for you
give us a kind of a state of the union and your, you know, how you're feeling about that business in 2025 and beyond
I'd love to hear you talk about your expectations for growth in 2025. The status of the Libre 3 supply issues
What's embedded in the operating margin guidance for gross margin in 2026? And how are you absorbing the increased cost pressures from oil, freight, chips, et cetera
anything more you can share about the turnaround plan and any strategic changes that we could anticipate at Baxter
Pharma has an operating margin of 9%. It was even lower in Q4. My guess is Compounding, which is your fastest growing business, does not make a lot of money. What are you doing to improve the margi...
could you please give us a little bit more color on the Q4 gross margin? How much of the year-over-year decline was due to tariffs, mix, reclassifications, and the onetime items you called out?
help us understand how your experience at ATS will help you turn Baxter around
Do you think all the pieces fit together? Or could we see you focus more on the hospital setting, less on the office setting?
just more color on what attracted the Board to Andrew, given he looks like a strong candidate, but he doesn't have direct device experience. So what were the skills and experiences that the Board t...
just the gross margin was a little lighter in Q2 than we expected. Just talk about how we should think about the gross margin the rest of this year
Maybe, Brent, just any update on the timing for CEO, permanent CEO announcement. And Joel, on -- just I'll ask both upfront here. And Joel, oil prices have come down a lot
How do you think about the pros and cons of an external versus internal candidate for CEO bringing in fresh perspective versus someone who kind of already knows Baxter?
is there a risk the new CEO comes in and says, we need to invest more and changes the guidance?
What's assumed in the guidance, how much of U.S. Specimen Management is ChloraPrep? I assume the vast majority
I just wanted to get a better handle on the three areas of headwinds, Alaris, Vaccines, and China
the expectation that fiscal '26 is down mid-teens was a little bit weaker than I would have expected
I'd love to hear your updated thoughts on the New BD strategy and the earnings algorithm
usually on the Q3 call, you give some helpful commentary on the following year, particularly on the P&L
The $0.25, is that net or gross, in other words, net after mitigation? You talked about it starting in Q4, fiscal Q4
just maybe put just flesh out a little bit more how the second half organic growth improves
the 10% China tariff, I think, went into effect. And then, if the 25% tariff on Mexico and Canada go into effect, what would be the impact
Did Alaris meet your goal of $350 million for fiscal '24? It sounds like Q4 was about $100 million or slightly below
Where is the share pressure coming from Mike? And on U.S. EP, sales have been flattish for the past 3 or 4 quarters
can you confirm you're not seeing an impact from the 3 recent trials we saw in 2025?
is there anything you're seeing in studies like ALONE-AF and OCEAN that's coming at American Heart that concerns you?
How would you have us think about these pieces and what your EP business could look like in 3 to 5 years?
One, do you think you can overtake J&J to become #1 in EP? And second, what will it take for the OUS share to catch up
so does this imply you see Boston Scientific Corporation as at least a 9% grower in 2026?
we heard your comments about the Middle East and IVF. Maybe you could just level set us on what your exposure is there?
the margins were really strong in Q1. Just remind us how we should think about the phasing for the year
could you please talk about the strategic review How long will it take What's your reaction to those who have advocated for splitting up CVI and CSI
Consensus EPS growth at 9%. Any reaction to that? And I heard about the operating margin leverage from Al, but I didn't hear the reiteration double-digit constant currency operating income growth
the contact lens market has slowed each year since 2021, and it slowed to, as you said, 4% growth in 2025. So maybe just zoom out a little bit. You know, why has the market slowed so much?
in fiscal in calendar Q4, it grew 9%. Calendar Q1, 4%. Obviously, a big deceleration
Maybe just help us understand why your growth was below the peers in the fiscal Q1. You know, maybe you can give us kind of the calendar year growth and maybe you could tell us what January and Feb...
The non-hormonal IUD was recently approved which, you know, I know you have been expecting. What is assumed in the guidance for the competition to PARAGARD?
Maybe first question on PARAGARD, the 10% decline in Q4 and the pressure you talked about
any color on cadence of sales and margins in fiscal '25. And any color on Q1
your main competitor is saying first half 2026. Are you in agreement with that? And when when are when should we expect to see the RCT data
can you frame the exposure to Medicare and the potential risk to DexCom? And if finalized as proposed, how might that impact your price in that channel
I wanted to start with the issues you identified, you know, on the Q2 call. The Salesforce issue and the DME issues
What are you assuming in the guidance from a share standpoint, from an impact, from the low-risk data?
It's been a while, since December, since we heard about SAPIEN X4. Could you give us a little bit of an update?
I wanted to just ask about the LAA opportunity. How big is that market today a competitor that has a device with sales of I think, over $200 million
I think people will notice that you didn't mention moderate AS. So can you talk about why you left that out
as you approach the scheduled trial for the JenaValve deal, what's your level of confidence you could overturn the FTC block
it sounds like you're comfortable with the 10% plus organic growth and 50 to 100 basis points margin expansion next year. What's giving you the confidence this early
Larry, when do you expect CMS to reopen the NCD? And what's the likelihood of moving to a single operator? And if that happens, what do you think the implications are
you set a goal of 10% annual top line growth, I think 50 to 100 basis points of margin improvement and double-digit EPS growth in 2026 and beyond. You have a lot of momentum now
How do you see the NCD impacting the ramp of Evoque
you're maintaining the EPS guidance despite the tariffs and the Yenovale acquisition and maybe even currency
what you're seeing and hearing in the field following early TAVR. When do you expect the data to positively impact procedures
what have you seen since the NTAP started on October 1? And how are you thinking about the impact from the NCD, which should be finalized in March
Your comments on the call imply margins and EPS should be up pretty significantly in the second half
I wanted to start with Intelerad, and how that's impacting the guidance in 2026, particularly margins and interest expense
your organic growth guidance of 3% to 4% implies 3.5% at the midpoint, which is what you did in 2025
Can you maybe talk about the timing of both orders in sales for photon counting and some of the other NPIs
Any additional color on what you're seeing, how you're thinking about growth there this year and next year
I just want to confirm that. And how much do you need China to recover to hit that goal
tariffs were about an 80 to 90 basis point headwind in the quarter. What are the other factors that impacted the gross margin
What feedback are you hearing from customers? What are some of the barriers to adoption that you're addressing
Color on what you're -- you gave the cadence that you expect this year. Just color on what you are seeing there
The $0.85 in 2025 is a partial year. It looks like you expect the impact to be lower than $0.85 next year in 2026
Is that linear or almost $150 million a year? And what are you assuming for 2025? And do you see similar opportunities elsewhere
It sounded like at JP Morgan that you expect to be more active on the M&A front in 2025. Is that fair
I'd love to hear you talk about the appendectomy opportunity. It looks like about 300,000 per year
innovation-led revenue growth. This is the first time I've heard you talk about that
How large is the ASC opportunity for your focused procedures today? And what are those key procedures moving to the ASC?
Do the refurbished Xis put some downward pressure on the ASPs and the move into the ASCs maybe put some downward pressure on utilization?
how are you thinking about utilization in the US going forward as da Vinci V becomes a higher percent of the installed base?
the implied gross margin in Q4 at the midpoint of the guidance range is slightly below 67%. So my question is on next year
is there any reason we wouldn't see system placements start to grow again like we did when you launched dV5 in the U.S.?
did I hear you say that you're including the European reciprocal tariffs, which I think are 20% in 90 days assumed in that 1.7%
it looks like da Vinci 5 placements as a percent of U.S. placements actually was lower in Q1 from Q4
on the Q3 call, you said the gross margin will be a little lower in 2025 versus 2024. I think the 67% to 68% guidance was probably a little bit lower than expected
In the second half of '24, US system placements grew over 35%. Utilization was about 2%. Is this a leading indicator of more procedures?
what are you seeing in your end markets? And how are you thinking about the remainder of the year
How are you thinking about the medtech market in 2026 relative to 2025? How are you thinking about J&J's adjusted operational growth
Is the 5% plus I heard you say earlier, on a reported or adjusted operational basis?
Do you see the 3.5% adjusted operational growth this year is something you could accelerate from next year
What is that on an annualized basis? And how are you thinking about being able to mitigate that over time?
how are you thinking about the growth of the MedTech market in 2025 and J&J relative to the market?
how are you thinking about the EP market growth in calendar year '26, and your CAS growth going forward now that you're lapping the Affera U.S. launch?
do you still believe you can achieve $400 million, you know, US sales by around fiscal 2028, which I think would be year three
What can these committees do that you couldn't do before? What would success look like? And how long before investors start to see an impact?
did you consider breaking Medtronic up into four separate businesses? One could argue that the remaining pre business have scale on their own
talk about the drivers of the acceleration in Q4 and how you're thinking about fiscal '26. And specifically the ramp of Affera, where you are with supply
you have the TPT for Ardian beginning in January. How much of a benefit are you expecting from that? And when are you anticipating the national coverage decision?
as your share of tubeless pumps declined from 100% today, I mean, just mathematically has to go down if there's competition, what offsets that to maintain your 20% growth goal
how are you feeling about being able to sustain the 20% growth in light of new competition
I don't think we've seen new starts up sequentially in Q1 for many years. So it looks like new start growth was quite strong
Is the 35% to 40% -- can -- do you think you can go above that 35% to 40% where you were with DASH
how are you mitigating these higher input costs
do you still expect operating margin to be up about 50 basis -- 50 basis points year-over-year this year
can you please talk about, you know, why this was the right time for this change? Know, what it means for Stryker
what's giving you the confidence to start this year slightly higher? And at the Investor Day in November, you seemed to believe it was possible to grow in 2026. 10% given the market conditions
maybe just refresh us on areas of interest, if anything has changed, deal size, et cetera. Anything new
How are you thinking about maintaining this momentum next year? What are some of the puts and takes we should consider? And can you expand margins next year with the tariff impact increasing
remanufactured instruments are a hot topic again. You have unique insight to this with the sustainability business
there's a lot of uncertainty in the market right now. What's giving you the confidence to raise both your organic growth and your EPS guidance?
the tariffs are going to hit the gross margin probably third and fourth quarter? Any color you can help provide on just kind of the cadence of margins
The guidance of 8.5% to 9.5% I’m sorry or 9% at the midpoint implies slightly slower growth Q2 through Q4
on the Spine sale, just talk about why this was the right time. How much of that $700 million is going to VB
the return on invested capital seems relatively low in year five. How do you see ROIC in five years? And when does this deal turn accretive?
once you launch the semiautonomous system with Persona early next year, how should we think about the pace of the rollout
It feels like, the change in terms of prioritizing returning free cash flow to shareholders. Over m and a
it looks like the recon market improved in the third quarter versus second quarter. What are you seeing into Q4?
You said we need to diversify ZBH, and we're rethinking our capital allocation strategy. You also said Zimmer has been too focused on the short term and EPS dilution
how much do you think that's the case, and what are you doing to make ROSA more competitive