S&P 500 Healthcare Sector SEC Filings — October 21, 2026

21-10-2026

Thermo Fisher Scientific reported Q3 2026 revenue of $12.14 billion, up 9% YoY (6% organic), with GAAP diluted EPS of $4.64 (up 9%) and adjusted EPS of $6.68 (up 15%). GAAP operating margin expanded to 18.6% from 17.4%, while adjusted operating margin rose to 24.5% from 23.3%. Growth was partly acquisition-driven (3 points) and the company completed the divestiture of its microbiology business; the company will provide updated 2026 guidance on the earnings call.

• · Specialty Diagnostics segment revenue declined about 6.5% YoY to $1,098M, and segment margin was 31.0% versus 27.4%.
• · Laboratory Products and Biopharma Services grew about 15% YoY to $6,863M, the largest contributor to growth.
• · Consolidated depreciation expense rose to $307M from $227M, and GAAP operating income was held back by a $244M held-for-sale loss and a $72M gain on sale of a business that are excluded from adjusted results.
• · Interest expense increased to $417M from $347M, and the GAAP effective tax provision rose to $352M from $207M.
• · Nine-month YTD revenue reached $35,136M, up about 8.6% from $32,341M.

21-10-2026

Elevance Health reported Q3 2026 operating revenue of $50.4 billion, up 0.7% YoY, with diluted EPS of $6.27 (up 17.9%) and adjusted diluted EPS of $6.99, aided by a net non-operating benefit of $1.85 per share. The company raised FY 2026 diluted EPS guidance to at least $22.00 and adjusted diluted EPS guidance to at least $29.00. However, operating gain was flat at $1.3 billion, Health Benefits operating gain fell 27.5%, operating expense rose 9.1%, and medical membership declined 1.1% YoY.

• · Benefit expense ratio improved 70 bp to 90.6%, driven by Medicare Advantage and Individual ACA performance
• · Nine-month operating cash flow of $7.5B vs $4.2B prior year, largely from favorable working capital
• · Nine-month operating margin compressed 120 bp to 3.4%, with operating gain down 25.7% YoY
• · Medicare Advantage membership fell 15.5% YoY, the steepest membership decline among segments
• · Q4 2026 dividend of $1.72 per share declared, payable December 18, 2026
• · Management targets at least 12% adjusted diluted EPS growth in 2027 from a baseline of at least $26.75

21-10-2026

Danaher reported Q3 2026 sales of $6,554 million, up 8.3% YoY from $6,053 million, with net earnings of $1,235 million versus $908 million a year earlier (up 36.0%) and diluted EPS of $1.75 versus $1.27. Results were supported by the closing of a Masimo acquisition with net cash consideration of $9,881 million, which drove a sharp increase in goodwill and intangibles and a rise in long-term debt to $24,388 million. However, nine-month operating profit grew only 16.6% on sales growth of 5.9%, nine-month net earnings from continuing operations rose 28.5%, but selling, general and administrative expenses declined 1.9% YoY on a nine-month basis, while comprehensive income fell sharply from $5,045 million to $2,476 million due to a prior-year foreign currency translation gain that did not repeat.

• · Balance sheet leverage rose sharply: long-term debt increased to $24,388 Million from $18,416 Million at Dec 31, 2025, and total debt including current portion reached roughly $26,482 Million.
• · Interest expense more than doubled in Q3 2026 to $135 Million from $67 Million, partly offsetting operating gains.
• · Nine-month comprehensive income fell to $2,476 Million from $5,045 Million, reflecting a $596 Million foreign currency translation loss versus a $2,406 Million gain a year earlier.
• · Nine-month share repurchases dropped to $894 Million cash from $3,088 Million, while dividends paid rose 21% to $790 Million.
• · Nine-month impairment charges were $52 Million, down from $548 Million in the prior year period.
• · Discontinued operations contributed $28 Million of net earnings in Q3 2026, with no comparable amount in the prior year.
• · Nine-month income tax expense was $339 Million versus $443 Million in the prior year, supporting the earnings improvement.
• · Q3 2026 Danaher net earnings from continuing operations include $1,273 Million on an adjusted basis (table 8) versus $808 Million, indicating a 57.5% increase on an adjusted basis.

21-10-2026

Abbott reported third-quarter 2026 sales of $13,013 million, up 14.5% on a reported basis and 7.0% on a comparable basis, with GAAP diluted EPS of $0.53 and adjusted diluted EPS of $1.42. Full-year comparable sales growth is projected at approximately 6.0%, and adjusted diluted EPS guidance was tightened to $5.50–$5.55. Performance was mixed: Nutrition grew only 4.9% comparable, and nine-month Nutrition sales declined 2.1% comparable, while Medical Devices' U.S. Structural Heart and Vascular-adjacent lines showed softness.

• · Q3 2026 reported sales growth of 14.5% was inflated by the Exact Sciences acquisition (closed March 23, 2026); Diagnostics reported growth of 46.7% versus 6.4% comparable
• · Nutrition nine-month comparable sales declined 2.1% and U.S. Nutrition declined 4.5%, despite Q3 Pediatric growth near 9%
• · Q3 2026 U.S. Vascular sales fell 11.1% and U.S. Neuromodulation fell 5.6% reported
• · Rapid/Molecular Diagnostics U.S. sales fell 8.9% in the first nine months
• · Fourth-quarter 2026 adjusted EPS guidance of $1.62–$1.67 implies a deceleration relative to Q3 adjusted EPS of $1.42 plus the full-year range
• · Quarterly dividend of $0.63 per share payable Nov. 16, 2026 to holders of record Oct. 15, 2026

21-10-2026

Johnson & Johnson reported fiscal third-quarter 2026 sales of $25,399 million, up 5.9% YoY from $23,993 million, but net earnings collapsed to $210 million (0.8% of sales) from $5,152 million, driven by a $5,780 million other expense line versus $(478) million income a year earlier. Nine-month sales rose 7.4% to $74,771 million while nine-month net earnings fell 49.4% to $10,979 million, with diluted EPS of $4.49 versus $8.94. Operating cost pressure was mixed: R&D surged 26.7% in the quarter and gross margin compressed 150 basis points to 68.1%, while cash and cash equivalents declined to $16,910 million from $19,709 million at year-end 2025.

• · Q3 FY2026 other (income) expense of $5,780 million, a swing from $(478) million income in Q3 FY2025, is the primary driver of the net earnings collapse; the filing's MD&A should be reviewed for its composition.
• · Q3 FY2026 effective tax benefit of $(176) million on pre-tax earnings of $34 million, versus a 31.2% pre-tax margin tax provision a year earlier.
• · Q3 FY2026 in-process R&D impairments of $339 million and restructuring charges of $181 million (vs $63 million) weighed on quarterly results.
• · Long-term debt declined to $35,799 million from $39,438 million at year-end 2025, while current loans and notes payable rose to $8,852 million.
• · Intangible assets, net fell to $46,652 million from $50,403 million, consistent with amortization and/or impairment activity.
• · Other liabilities rose to $12,749 million from $9,868 million and accrued liabilities rose to $12,255 million from $8,594 million.
• · Cash dividend of $1.34 per share paid in Q3 FY2026 and $3.98 per share year-to-date; $5,965 million repurchased year-to-date versus $1,712 million in Q3.

21-10-2026

Intuitive Surgical reported Q3 2026 total revenue of $3,048.7M, up 21.7% YoY from $2,505.1M, with product revenue up 21.7% to $2,566.5M and service revenue up 21.8% to $482.2M. However, a $450.0M antitrust class action litigation settlement charge drove operating income down 22.0% YoY to $592.6M, and net income attributable to Intuitive fell 25.8% to $522.8M, with diluted EPS of $1.49 versus $1.95 a year earlier. Nine-month revenue rose 21.0% to $8,711.8M, but nine-month net income attributable grew only 4.9% to $2,162.4M, and cash used in financing rose sharply due to a 111% increase in share repurchases.

• · Q3 2026 operating expenses rose 65.3% YoY to $1,491.7M, driven by the $450.0M antitrust settlement; excluding it, operating expenses would have risen about 15.5% to $1,041.7M
• · Q3 2026 income tax expense was $144.0M, roughly flat YoY ($146.0M), while nine-month tax expense rose 75.8% to $489.8M, including a large deferred tax asset reduction (deferred tax assets fell from $1,018.6M to $719.7M)
• · Retained earnings fell 35.5% to $4,525.1M since year-end as repurchases ($4,419.2M nine-month) exceeded earnings, with Additional paid-in capital rising to $11,521.1M
• · Short-term investments declined 58.5% and cash declined 11.6% since December 31, 2025, while goodwill rose 50.6% to $557.8M and intangible and other assets rose 42.5% to $1,209.2M following a $518.6M acquisition outflow
• · Q3 2026 net interest and other income fell 20.6% YoY to $75.8M, and nine-month free cash flow (operating cash flow less capex) was approximately $2,868.0M versus $1,760.7M in 2025
• · Accumulated other comprehensive income swung to a $(60.3)M loss from a $43.3M gain at year-end, driven by unrealized losses on available-for-sale securities of $(76.3)M for nine months
• · Q3 2026 diluted EPS of $1.49 missed the Q3 2025 level of $1.95, despite revenue growth, due to the litigation settlement charge and higher share count reduction effects
• · Inventory rose 15.7% to $2,128.2M and equipment transfers from inventory to PP&E were $670.5M for nine months, indicating continued placement of systems

21-10-2026

Director Lofton Kevin E disposed of 182 Ordinary Shares. Lofton Kevin E holds 9,977 shares after the transaction.

• · Director Lofton Kevin E disposed of 182 Ordinary Shares