J.P. Morgan MedTech: What to Expect in the Week Ahead: Who Will Beat, Who Will Miss?

Research evidence excerpt

J.P. Morgan MedTech: What to Expect in the Week Ahead: Who Will Beat, Who Will Miss?

J P M O R G A N North America Equity Research

19 July 2026

J.P. Morgan MedTech

What to Expect in the Week Ahead: Who Will Beat,

Who Will Miss?

MedTech earnings continue this week with EW and ATRC. Last week was Medical Supplies & Devices

AChighly instructive, in that we learned: (1) investor positioning (still almost Robbie Marcus, CFA

exclusively hedge funds) is rapidly shifting day to day, hour to hour, whereas earlier (1-212) 622-6657

in the week investors seemed very long biased Abbott and short biased Intuitive, we robert.j.marcus@jpmorgan.com

think many reversed course after the negative HCA preannouncment (covered by Allen Gong AC

JPM analyst Ben Rossi) and positive volume comments from J&J (covered by JPM (1-212) 622-9520

analyst Chris Schott). Edwards was a crowded long into last week, but with the AI allen.gong@jpmorgan.com

trade softening and some funds rotating into less owned, lower multiple MedTech last Lilia-Celine B Lozada

week (some, we don’t want to make it like generalists are actually interested yet), we (1-212) 622-1019

lilia-celine.b.lozada@jpmchase.com

saw EW shares lag as it was widely held and received fewer new dollars. (2) investors

Henry Householterare conflicted on the mixed signals with supportive volume comments from J&J

(1-212) 464-5599

and Abbott, more mixed comments from Intuitive, offset by decidedly negative henry.householter@jpmorgan.com

volume comments from the hospitals. Our view is there’s likely some minor impact J.P. Morgan Securities LLC

in younger-patient exposed procedures, ie. those more elective, along with spine and

sleep apnea, but we expect the majority of our companies to definitively announce that