Core Insights - Tempus AI, Inc. (TEM) is identified as a promising investment opportunity in the healthcare sector due to its strong growth in data sets and testing volumes [1] Financial Performance - The financials of Tempus AI, Inc. indicate positive trends, supporting the notion of its potential for future growth [1]

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Siemens Healthineers FY Conference Summary Company Overview - Siemens Healthineers is a market leader in imaging and precision therapy, with 90% of academic medical centers as clients [2][3] - The company operates in 70 countries with an installed base of approximately 700,000 systems and 3 billion patient touchpoints annually [3] - R&D investment exceeds EUR 2 billion, with 13,000 employees dedicated to innovation [3] Market Position and Performance - Siemens Healthineers holds a 38% market share in imaging, an increase of 7 percentage points since its IPO [4] - Varian's market share has grown by 10 percentage points to over 60% since the acquisition [4] - The company has an order backlog of EUR 6 billion from large value partnerships [3] Strategic Focus - The company aims to address non-communicable diseases (NCDs) such as cancer and cardiovascular diseases through early detection and personalized treatment [5][6] - Key pillars include patient imaging, precision therapy, and healthcare AI to enhance treatment personalization [6] Imaging and Technology Innovations - Strong presence in MRI with over 50% market share in the U.S. [6] - Photon Counting CT technology is a flagship innovation, expected to revolutionize cardiac disease management [8][27] - The distribution business of radiopharmaceuticals (PETNET) is projected to reach EUR 1 billion [8] Financial Performance and Outlook - The company expects revenue growth of 5%-6% for the fiscal year, with adjusted EPS between EUR 2.20 and EUR 2.40 [19][20] - Anticipated headwinds include foreign exchange impacts and tariffs, totaling EUR 0.30 per share [20] - Long-term growth targets include 6%-9% annual growth in core imaging and precision therapy segments starting in 2027 [22] Capital Allocation and Shareholder Value - Siemens Healthineers has a stable and growing dividend policy, with a commitment to deleverage from 2.8 times to 2.5 times net debt over EBITDA in the next 24 months [18] - The company aims for a cash conversion rate of 0.8-0.9 annually, with a focus on maintaining strong free cash flow [17] Challenges and Market Dynamics - The company faces challenges in the Chinese market, with expectations of flat growth in the near term [24][25] - Increased competition and local government support for domestic players are noted concerns [25] - The diagnostics segment is being restructured for operational independence, with no immediate plans for divestiture [27] Conclusion - Siemens Healthineers is well-positioned for future growth through its strong market presence, innovative technologies, and strategic focus on addressing critical healthcare needs. The company is committed to enhancing shareholder value while navigating market challenges and optimizing its operational structure.

Siemens Healthineers AG J.P. Morgan Healthcare Conference, January 13, 2026 Unrestricted © Siemens Healthineers, 2026 Unrestricted © Siemens Healthineers, 2025 This webcast has been provided solely for use at this meeting. By attending the meeting or accessing this webcast, you agree to be bound by the following limitations. This webcast is provided in conjunction with an oral presentation and should not be taken out of context. This webcast serves for information purposes only and the information contained ...

Group 1 - Philips N.V. is characterized as a "set it and forget it" company, indicating a stable investment with long-term potential in the imaging and image-guided therapies sectors [1] - The company is recognized as one of the world leaders in its fields, which enhances its attractiveness to investors [1] Group 2 - The article emphasizes the importance of conducting due diligence and research prior to any investment, highlighting that the author is not providing financial advice [2] - It is noted that investing in European and Scandinavian stocks may involve specific withholding tax risks, which investors should consider [2]

Core Viewpoint - Boston Scientific Corporation (NYSE:BSX) is highlighted as a top investment opportunity in the healthcare AI sector, with TD Cowen reaffirming a Buy rating and setting a price target of $115, naming it their "Best Idea for 2026" [1] Group 1: Growth Potential - TD Cowen describes Boston Scientific as "the most attractive growth story in the medical devices sector," supported by expectations of over 10% organic sales growth annually, 50 basis points of yearly operating margin expansion, and double-digit EPS growth [1][2] - Analysts anticipate that Boston Scientific will maintain double-digit organic revenue growth through 2026, despite facing tougher year-over-year comparisons [1] Group 2: Competitive Advantage - Boston Scientific's proven history of strong double-digit earnings growth justifies higher valuation multiples due to its "scarcity value," as few companies can match this reliable high growth [2] - Key products driving this growth include Farapulse for atrial fibrillation treatment and Watchman for stroke prevention [2] Group 3: Innovation and Market Strategy - At the 7th Annual Wolfe Research Healthcare Conference, Boston Scientific's management discussed the company's innovation pipeline and market expansion strategies, particularly in electrophysiology [3] - The Farapulse pulsed field ablation (PFA) system is projected to exceed 50% market penetration in the US by the end of 2025 [3] - Historical trials for the Watchman device were discussed, highlighting limitations from older device generations and post-procedure regimens [3] Group 4: Technological Integration - Boston Scientific develops medical devices across various fields, including cardiology, endoscopy, neuromodulation, and urology, utilizing machine learning, natural language processing, and computer vision to enhance medical imaging and patient management [4]

Core Viewpoint - Veeva Systems Inc. is considered one of the top healthcare AI stocks to invest in, despite some customer migrations from its legacy CRM platform, which are viewed as manageable and not detrimental to the company's overall momentum [1]. Group 1: Company Performance and Revenue - Veeva currently serves 18 of the top 20 pharmaceutical companies with its CRM tools, but now expects only 14 to migrate to the newer Veeva Vault CRM, a slight decrease from previous expectations [2]. - CRM revenue constitutes approximately 20% of Veeva's total revenue, down from 25% two years ago, with the top 20 pharmaceutical clients accounting for about 50-60% of this CRM revenue segment [2]. - Stifel estimates that Veeva will face a 2-3% revenue headwind over the next five years due to these customer migrations, which is considered minor and not material [2]. Group 2: Competitive Landscape - KeyBanc Capital Markets downgraded Veeva from Overweight to Sector Weight, citing increasing competition in the CRM segment, particularly from Salesforce, which is gaining favor among large pharmaceutical clients [3]. - The shift in preference towards Salesforce's CRM offerings is seen as a significant concern for Veeva's future outlook [3]. Group 3: Company Overview - Veeva Systems Inc. provides cloud-based software solutions for the life sciences industry, including applications for regulatory compliance, clinical data management, and customer relationship management [4]. - The company has integrated AI into its platforms to enhance drug development and commercialization processes [4].

Core Viewpoint - Medtronic plc is highlighted as a promising healthcare AI stock following the FDA's approval of its HUGO robotic-assisted surgery system, which is expected to enhance its competitive position in the surgical robotics market [1][2]. Group 1: FDA Approval and Market Impact - The FDA granted regulatory approval for Medtronic's HUGO robotic-assisted surgery system, marking the end of a lengthy development phase and enabling competition in the US surgical robotics market [2][3]. - The HUGO system is intended for minimally invasive urologic surgical procedures, including prostatectomy, nephrectomy, and cystectomy [3][4]. - Stifel anticipates that significant revenue contributions from the HUGO launch will not materialize until Medtronic's fiscal year 2027 [2]. Group 2: Clinical Study and Launch Strategy - The approval of the HUGO system followed positive outcomes from the Expand URO investigational device exemption clinical study, which is noted as the largest multi-center prospective IDE trial for multi-port robotic-assisted urologic surgery in the US [4]. - Medtronic plans a phased launch of the HUGO system, focusing on partnerships with leading hospitals to facilitate its introduction into the market [4]. Group 3: Company Overview - Medtronic plc develops and manufactures a range of medical devices and therapies across various sectors, including cardiovascular, diabetes, surgical, and neurological care [5]. - The company's AI-enabled product portfolio includes GI Genius, Touch Surgery Enterprise for surgical video analysis, AiBLE for neurosurgery, and the MiniMed 780G insulin pump [5].

Siemens Healthineers Capital Markets Day Summary Company Overview - **Company**: Siemens Healthineers (OTCPK: SEMH.F) - **Event**: 2025 Capital Markets Day - **Date**: November 17, 2025 Key Points Industry Position and Strategy - Siemens Healthineers is recognized as a leader in the healthcare industry, particularly in imaging and precision therapies, with a strong presence in the Americas, Europe, China, and APJ regions [6][9][10] - The company operates in 70 countries and has an installed base of 700,000 systems, impacting 3 billion patients annually [6][7] - The focus is on elevating health globally, addressing non-communicable diseases (NCDs) which account for 75% of global deaths [17][18] Financial Performance - Revenue growth has averaged over 6% per year since the last capital market day, with EPS growth at 11% per year [10][58] - Siemens Healthineers reported revenues of over EUR 23 billion and EBIT close to EUR 4 billion [9] - The company has a backlog of over EUR 6 billion from value partnerships [8][12] Research and Development - Siemens Healthineers invests more than EUR 2 billion annually in R&D, with a focus on software, AI, and data science [7] - The company holds 1,300 patent families in healthcare AI, showcasing its commitment to innovation [7] Business Segments - The company operates in three synergistic business segments: Imaging, Varian (Precision Therapy), and Advanced Therapies, with Diagnostics following a separate path [9][13] - Diagnostics has improved margins by 8 percentage points since 2023 and is expected to have more entrepreneurial freedom for strategic growth [13] Future Growth and Targets - Midterm growth targets (2027-2030) include revenue growth of 5-9% and double-digit EPS growth [41][42] - The company aims for margin expansion of about 100 basis points per year in Precision Therapy and mid-single-digit growth in Diagnostics [42] - Sustainability targets include reducing carbon footprint by 90% in scope one and two by 2030 [42] Customer Challenges - Key challenges for customers include efficiency, clinical excellence, and access to care, driven by staff shortages and the need for improved healthcare systems [34][35][36] - Siemens Healthineers aims to address these challenges through value partnerships and innovative solutions [37][38] Technological Innovations - The company is focusing on personalized treatment approaches for NCDs, leveraging AI and advanced imaging technologies [22][23][24] - Innovations such as photon counting CT and AI-enabled MRI are positioned to enhance early detection and treatment planning [25][29] Capital Allocation and Financial Strategy - Siemens Healthineers has a stable dividend policy, proposing EUR 1.00 per share for the next AGM, with a commitment to maintain a progressive dividend [52] - The company targets a net debt to EBITDA ratio of 2.5 over the next two years, aiming for a strong investment-grade rating [54] Conclusion - Siemens Healthineers is well-positioned to tackle significant healthcare challenges through its innovative technologies, strong market presence, and strategic focus on growth and sustainability [39][40]

Capital Markets Day London, November 17, 2025 Unrestricted © Siemens Healthineers, 2025 1 Unrestricted © Siemens Healthineers, 2025 Capital Markets Day 2025 Safe Harbor Statement This webcast has been provided solely for use at this meeting. By attending the meeting or accessing this webcast, you agree to be bound by the following limitations. This webcast is provided in conjunction with an oral presentation and should not be taken out of context. This webcast serves for information purposes only and the in ...