U.S. Medical Supplies & Devices: Recap & Preview: MedTech Flashing Signs of a Comeback, as 24 of 26 Names in Our Universe Outperform the S&P 500 for the Week; On Deck: MDT, MMED, COO and ADA

Research evidence excerpt

U.S. Medical Supplies & Devices: Recap & Preview: MedTech Flashing Signs of a Comeback, as 24 of 26 Names in Our Universe Outperform the S&P 500 for the Week; On Deck: MDT, MMED, COO and ADA

Barclays | U.S. Medical Supplies & Devices

performance analysis vs. the market and adjacent comp groups in Figures 4–5. Looking at YTD

performance of individual stocks in our universe AVR, LIVN, SENS and JNJ are leading our

universe (up 92.8%, up 20.0%, up 14.9% and up 13.2%, respectively) vs. an increase

of 9.2% for the S&P 500 and an increase of 14.0% for the S&P 500 ex-MAG 7. The MAG 7 Tech

names are now up 8.3% YTD, and the Triumphant 3 (leading AI names) are up 1.0% YTD.

MedTech stocks in our universe with the greatest YTD declines include ATEC, PODD, BSX, and

TNDM, which are down 60.7%, 45.5%, 39.4%, and 31.9%, respectively.

Recent and Upcoming Events and Reports

Barclays Hosted Events at ADA 2026: Our Initial Schedule of Meetings and Expert Events

(June 5-8): We are pleased to be hosting in-person expert events and company management

teams during the annual ADA 2026 Scientific Sessions in New Orleans, LA (Jun 5-8). We are

hosting expert events on Saturday afternoon (Jun 6, 3pm CT) and an expert breakfast on

Monday (Jun 8, 8am CT), as well as a preliminary series of mgmt meetings and booth tours

including with BBNX (not covered), GCTK (CBGM mfr, not covered), Laxmi Therapeutics

(privately held CGM mfr), MODD (insulin pump mfr, not covered) and Triple Jump (privately held

insulin pump mfr). Other companies hosting meetings with investors and analysts include ABT,

MMED, TNDM and PODD. We note that the results from DXCM’s CONNECT trial (CGM in non-

insulin T2) are set to be presented on Saturday afternoon. More events and details to be