Core Viewpoint - Piper Sandler has raised its price target on Doximity Inc. to $42 from $40 while maintaining an Overweight rating, indicating a positive outlook on the company's stock performance [1] Group 1: Doximity's AI Tool Suite - Insights from a demonstration led by CEO Jeff Tangney highlighted the strengths of Doximity's AI tool suite, particularly DoxGPT, which is noted for its integration within the Doximity ecosystem, the quality and accuracy of clinical reference responses, and a strong evidence base supporting its medical AI capabilities [2] - A new feature called PeerCheck allows healthcare professionals to efficiently transition from clinical questions to citations and original sources, enhancing the utility of DoxGPT [2] Group 2: Market Potential and Stock Valuation - As AI tools like Scribe and DoxGPT become integrated into Doximity's workflow platform, there is an expectation of increased adoption among individual healthcare professionals and enterprise contracts with hospitals and health systems, creating a virtuous cycle [3] - Piper Sandler believes the market is undervaluing DoxGPT's potential, especially following the fiscal third-quarter 2026 EPS results, leading to an updated price target of $42 based on a 20.0x multiple applied to slightly higher calendar 2027 adjusted EBITDA estimates [4]

Unity’s own users have access to a range of interactive connections, including livestreams and discussions, to get the most out of the platform by finding out what other users are doing with it. It’s part of Unity’s overall commitment to providing transparency in the service.A short trip through Unity’s website shows that the company can offer a wide range of services, including 2D and 3D game creation, user acquisition apps so that creators can bring in an audience, and monetization apps that allow creator ...

Core Insights - Teladoc Health, Inc. (TDOC) is expected to report a fourth-quarter 2025 loss of 19 cents per share on revenues of $633.91 million, with a year-over-year revenue decrease of 1% [1][2][7] Financial Performance - The fourth-quarter earnings estimate has improved by a penny over the past 60 days, indicating a year-over-year improvement of 32.1% in the bottom line [2] - For the full year 2025, the Zacks Consensus Estimate for Teladoc's revenues is $2.52 billion, reflecting a decline of 1.9% year over year, while the EPS estimate is a loss of $1.20, showing an improvement of 79.6% year over year [3] Earnings Expectations - Teladoc has beaten earnings estimates in three of the last four quarters, with an average surprise of 14.5% [3] - The company has an Earnings ESP of 0.00% and a Zacks Rank of 2 (Buy), which does not conclusively predict an earnings beat this time [4] Segment Performance - Integrated Care members are expected to increase by 9.1%, with segment EBITDA rising by 20.9% year over year [7][10] - BetterHelp revenue is projected to decline by 6.2%, with paying users down by 5% in Q4, and the adjusted EBITDA from this segment is expected to fall by 28.9% year over year [9][10] Revenue Breakdown - The Zacks Consensus Estimate for fourth-quarter Access fees revenues indicates a 1.3% year-over-year decline, while U.S. operations are expected to have declined, partially offset by increased revenues from international operations [8] - Overall adjusted EBITDA is expected to be between $73 million and $90 million, with free cash flow for the full year 2025 projected to be between $170 million and $185 million [10]

Key Takeaways PacBio reported Q4 revenues of $44.6M, up 13.8%, beating estimates.PACB's adjusted gross margin expanded 900 bps to 41%, operating loss narrowed.PACB guides 2026 revenue to $165-$180M, up 3-12% year over year.Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, delivered an adjusted loss per share of 12 cents in fourth-quarter 2025, narrower than the year-ago adjusted loss of 20 cents per share. The adjusted loss per share topped the Zacks Consensus Estimate by 36.8%.The ...

Core Insights - Tempus AI (TEM) is set to release its fourth-quarter 2025 results on February 24, 2026, after market close, with expectations of strengthened performance in 2026 due to strategic collaborations and product innovations [1] Financial Performance - Preliminary results indicate that revenues for the full year 2025 reached approximately $1.27 billion, marking an 83% year-over-year increase, with about 30% of this growth being organic [2] - Diagnostics revenues totaled around $955 million, reflecting a 111% year-over-year increase, driven by a 26% growth in oncology volume and a 29% increase in hereditary testing volume [3] - Data and applications revenues reached approximately $316 million, showing a 31% year-over-year growth, partly due to a 38% improvement in the Insights (data licensing) business [3][4] - The company achieved a Total Contract Value (TCV) of over $1.1 billion as of December 31, 2025, and reported positive adjusted EBITDA of $1.5 million in Q3 2025, a year-over-year improvement of $23.3 million [12] Strategic Collaborations - Tempus has entered a multi-year collaboration with Whitehawk Therapeutics, leveraging its proprietary dataset to enhance oncology research and clinical trial design [7][8] - The company initiated a research study with the Institute for Follicular Lymphoma Innovation, marking its first collaboration with a nonprofit to create a robust dataset for follicular lymphoma [11] Market Position and Challenges - Despite significant revenue growth, Tempus' stock price has declined by 32.9% in Q4, reflecting a broader negative sentiment in the AI medtech sector [6] - The stock currently trades at a price-to-book (P/B) ratio of 17.79X, which is above the industry average of 8.76X, raising valuation concerns [10][20] - The company continues to face challenges with GAAP losses due to stock-based compensation and amortization of acquired intangibles, limiting visibility into sustainable profitability [17][18] Future Outlook - The company is positioned as a high-growth leader at the intersection of AI and precision medicine, with strong operational momentum expected to continue into 2026 [21] - Investors are advised to maintain their positions in Tempus stock, which is currently rated as a Zacks Rank 4 (Sell) [22]

Core Insights - QuidelOrtho Corporation (QDEL) reported adjusted earnings per share (EPS) of 46 cents for Q4 2025, a decrease from 63 cents year-over-year, but exceeded the Zacks Consensus Estimate by 6.9% [1] - The company registered revenues of $723.6 million in Q4 2025, reflecting a 2.2% year-over-year increase and surpassing the Zacks Consensus Estimate by 3.6% [2] Financial Performance - The GAAP loss per share for Q4 was $1.92, an improvement from a loss of $2.65 in the same quarter last year [1] - Adjusted gross profit declined 1.8% year-over-year to $325.2 million, with an adjusted gross margin contracting by 190 basis points to 44.9% [9] - Adjusted operating profit totaled $89.3 million, down 8.7% from the prior-year quarter, with an adjusted operating margin of 12.3%, a contraction of 150 basis points [10] Revenue Breakdown - Respiratory revenues were $123.3 million, down 13.9% year-over-year, while Non-Respiratory revenues increased to $600.3 million, up 6.3% [2] - Labs revenues reached $389.2 million, an 8.1% increase, while Immunohematology revenues were $141 million, up 3.4% [3][4] - Donor Screening revenues fell significantly to $11.8 million, down 40.1%, and Point of Care revenues declined to $173.1 million, down 6.4% [4] Geographical Performance - North America revenues were $390.1 million, reflecting a decline of 2.4%, while EMEA revenues increased by 9.3% to $92.7 million [6] - Revenues from China amounted to $91.7 million, up 5.5%, and Latin America revenues increased by 22% to $73.2 million [8] Future Guidance - For 2026, QuidelOrtho expects total revenues to be in the range of $2.7 billion to $2.9 billion, with a consensus estimate of $2.71 billion [12] - The company anticipates steady growth in its core Labs business and low-single-digit growth in Immunohematology, while Point-of-Care revenues are expected to remain flat [13][14]

Market Overview - Mid cap equities showed flat to slightly positive performance in Q4, with the Russell Midcap Index returning 0.16% [2] - Market dynamics were influenced more by investor sentiment and positioning rather than macroeconomic factors, leading to uneven earnings reactions [2] - Mid cap equities lagged behind both small and large caps for the year, despite improvements in fundamentals for many mid cap businesses [3] Performance Analysis - The ClearBridge Mid Cap Strategy underperformed its benchmark due to broad market headwinds and uneven earnings reactions, despite solid execution in the portfolio [4] - Information technology and real estate sectors were significant detractors, while consumer discretionary holdings provided some positive contributions [4][5] Sector-Specific Insights - The IT sector faced challenges as investor sentiment weakened towards software businesses, impacting companies like Teledyne Technologies and Bentley Systems [5] - Real estate was pressured by Alexandria Real Estate Equities due to a slowdown in biopharma research spending, leading to a decline in leasing demand [6] - Consumer discretionary sector saw positive performance from companies like Light & Wonder and Expedia, which benefited from improved execution and market conditions [7] Portfolio Positioning - The company reallocated capital towards businesses with durable fundamentals and recurring revenue profiles, while exiting positions with unfavorable risk-reward profiles [9] - New positions were initiated in Casella Waste Systems and Tyler Technologies, focusing on companies with strong recurring revenue models [10] - Exited positions included Corpay and DraftKings due to emerging competitive uncertainties [11] Future Outlook - The environment for mid cap equities is expected to improve, with signs of easing market imbalances and potential for reaccelerated business investment [13][14] - A normalization of capital allocation could benefit mid cap companies with strong cash flows and attractive valuations [14] - The company is focusing on bottom-up stock selection and balanced portfolio construction to navigate the evolving opportunity set [15] Portfolio Highlights - The ClearBridge Mid Cap Strategy underperformed the Russell Midcap Index, with contributions primarily from consumer discretionary and health care sectors [16] - Stock selection in various sectors, including IT and real estate, detracted from performance, while consumer discretionary sector selection provided some benefits [17] - Notable individual stock performance included detractors like Alexandria Real Estate Equities and contributors like Light & Wonder and Expedia [18]

Core Insights - Ecolab Inc. reported fourth-quarter 2025 adjusted earnings per share (EPS) of $2.08, a 14.9% increase year over year, surpassing the Zacks Consensus Estimate by 0.8% [1] - Full-year adjusted EPS reached $7.53, reflecting a 13.2% increase from the previous year, also exceeding the Zacks Consensus Estimate by a penny [1] Revenue Details - Revenues for the fourth quarter totaled $4.19 billion, marking a 4.8% year-over-year increase and exceeding the Zacks Consensus Estimate by 0.1% [2] - Organic sales were reported at $4 billion, up 2.9% from the prior year [2] - Full-year revenues amounted to $16.08 billion, a 2.2% improvement year over year, but lagged the Zacks Consensus Estimate by 0.2% [3] Segmental Analysis - The Global Water segment reported fixed currency sales of $2.02 billion, a 2.5% year-over-year growth, with organic sales at $2 billion, up 2.2% [4] - The Global Institutional & Specialty segment's fixed currency sales were $1.49 billion, reflecting a 2.8% year-over-year increase [5] - The Global Pest Elimination segment saw fixed currency sales of $307.2 million, improving 6.7% year over year [6] - The Global Life Sciences segment reported fixed currency and organic sales of $191.4 million each, reflecting a 6.5% year-over-year growth [7] Margin Analysis - Gross profit for the quarter improved 6.4% year over year to $1.85 billion, with gross margin expanding by 69 basis points to 44% [9] - Adjusted operating profit totaled $786.6 million, a 14.6% increase from the prior year, with adjusted operating margin expanding 162 basis points to 18.7% [9] Financial Position - Ecolab ended the fourth quarter with cash and cash equivalents of $646.2 million, down from $1.96 billion at the end of the third quarter [10] - Total debt increased to $8.24 billion from $8.07 billion at the end of the third quarter [10] - The company has a consistent dividend-paying history, with a five-year annualized dividend growth of 8.09% [10] Guidance - For Q1 2026, Ecolab expects adjusted EPS of $1.67-$1.73, indicating an 11%-15% increase from the previous year [11] - For full-year 2026, adjusted EPS is projected to be $8.43-$8.63, reflecting a 12%-15% increase from 2024 [12] Overall Performance - Ecolab's fourth-quarter results exceeded expectations, with strong year-over-year growth in both top and bottom lines across all segments [13] - The company is experiencing significant operating income margin expansion and anticipates increased annualized savings from its productivity initiatives [14]

Core Insights - William Blair Investment Management reduced its position in Doximity by 372,184 shares, valued at approximately $20.89 million, during Q4 2025, resulting in a decrease of $184.77 million in the quarter-end value of its Doximity stake [1][2] Company Overview - Doximity operates a cloud-based digital platform that connects U.S. medical professionals, serving healthcare and pharmaceutical clients [5] - As of February 6, 2026, Doximity's stock price was $27.73, with a market capitalization of $5.09 billion, revenue of $637.78 million, and net income of $239.40 million [4] Stock Performance - Doximity shares have declined by 66% year-over-year, significantly underperforming the S&P 500 by 82 percentage points [3] - The stock is currently trading at 17 times free cash flow, marking its lowest-ever valuation [8] Revenue and Growth - Doximity generates revenue primarily from pharmaceutical manufacturers and healthcare systems, targeting physicians and medical organizations [7] - Sales growth has slowed from 23% in Q3 of the previous year to 10% this year, with management guiding for only 4% growth in Q4 [9]

Core Insights - Becton, Dickinson and Company (BDX) reported adjusted earnings per share (EPS) of $2.91 for Q1 fiscal 2026, a decrease of 15.2% year over year, but exceeding the Zacks Consensus Estimate by 3.4% [1] - The company’s revenues for the same quarter were $5.25 billion, reflecting a 1.6% year-over-year increase and surpassing the Zacks Consensus Estimate by 2% [2] - BDX's GAAP EPS was $1.34, showing a significant increase of 28.8% from the previous year [1] Revenue Analysis - BDX's new revenue, post-separation of its Biosciences and Diagnostic Solutions business, was $4.49 billion, marking a 3.5% increase on a reported basis [3] - The Medical Essentials segment generated revenues of $1.59 billion, up 0.6% year over year, while the Connected Care segment saw revenues of $1.13 billion, up 5.5% [4][5] - The BioPharma Systems segment reported revenues of $429 million, up 2.7%, and the BD Interventional segment generated $1.33 billion, up 5.8% [5] Geographic Performance - In the U.S., revenues improved by 2.6% year over year to $3.16 billion, while international revenues totaled $2.09 billion, up 0.2% on a reported basis but down 2.8% at constant exchange rates [6][8] Margin and Expense Analysis - BDX's gross profit increased by 7.9% year over year to $2.41 billion, with gross margin expanding by 266 basis points to 45.9% [9] - Adjusted operating profit rose by 24% to $712 million, with an adjusted operating margin of 13.6%, an increase of 245 basis points [10] Financial Position - At the end of Q1 fiscal 2026, BDX had cash and cash equivalents of $751 million, up from $649 million at the end of fiscal 2025, while total debt increased to $19.54 billion [11] - Net cash provided by continuing operating activities was $657 million, down from $693 million a year ago [11] Guidance and Future Outlook - BDX projects full fiscal year revenues to grow above low single-digit on a reported basis and anticipates adjusted EPS in the range of $12.35-$12.65, with the Zacks Consensus Estimate at $14.84 [13] - The company has a consistent dividend-paying history, with a five-year annualized dividend growth of 5.47% [12] Recent Developments - BDX announced collaborations to enhance hazardous drug contamination testing and expanded its product offerings, including the PureWick Portable Collection System and the BD Surgiphor Surgical Wound Irrigation System [15] - Despite positive developments, lower revenues from the Medical Essentials and Life Sciences segments were noted as disappointing [16]