Core Insights - InspireMD, Inc. successfully launched its CGuard Prime carotid stent system in the U.S., contributing to record quarterly revenue growth [1][2] - The company reported a 39% increase in total revenue for Q3 2025, reaching $2.5 million compared to $1.8 million in Q3 2024 [3] - Despite revenue growth, the company experienced a net loss of $12.7 million for Q3 2025, compared to a net loss of $7.9 million in the same period last year [7] Business Highlights - The U.S. commercial launch of the CGuard Prime system has shown strong demand, with over 100 procedures completed across leading hospitals [9] - The company raised $58 million in gross proceeds, enhancing its ability to expand its commercial team and operations [2] Financial Performance - U.S. revenue for Q3 2025 was $497,000, while international revenue was $2.0 million, driven by the CGuard Prime launch and increased market penetration [3] - Gross profit for Q3 2025 was $864,000, an increase from $414,000 in Q3 2024, attributed to higher margin revenue from the U.S. launch [4] - Total operating expenses rose by 57% to $13.9 million in Q3 2025, primarily due to increased headcount and infrastructure costs [5] Financial Metrics - Financial income for Q3 2025 decreased by 40% to $343,000 compared to $572,000 in Q3 2024 [6] - Cash and cash equivalents as of September 30, 2025, were $63.4 million, up from $34.6 million at the end of 2024 [7] - The weighted average number of ordinary shares used in computing net loss per share was 73,466,501 for Q3 2025 [14]

Core Insights - Surmodics, Inc. presented results from an analysis of 160 real-world patients with symptomatic infrainguinal limb ischemia at the 23rd Annual VIVA Conference in Las Vegas [1] Company Summary - Surmodics, Inc. is a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry [1] Industry Context - The presentation was part of an industry-sponsored session, indicating active engagement and collaboration within the medical device sector [1]

Core Insights - Intuitive Surgical's shares increased by 19.5% in October, following a strong third-quarter earnings report that exceeded analyst expectations significantly [1][8] - The company reported third-quarter sales of $2.51 billion, reflecting a 23% year-over-year growth, driven by a 33% increase in system sales [2][8] - Adjusted net margins improved from 32.8% to 34.5%, resulting in earnings per diluted share rising from $1.84 to $2.40, surpassing the expected $1.99 [3][8] Financial Performance - The company achieved a 23% increase in sales year-over-year, with earnings of $2.40 per share compared to the expected $1.99 [8] - The stock is currently trading at 72 times trailing earnings and 85 times free cash flow, which aligns with its historical average valuation [6][8] Market Position and Challenges - Despite the strong performance, Intuitive Surgical faces challenges such as heavy tariff expenses and a recall of the da Vinci 5 system due to technical issues [4] - There remains a high demand for da Vinci 5 installations, and the company encourages upgrading older systems to the new platform [4] Valuation Perspective - The stock is considered expensive, trading at a high P/E ratio, but this is typical for high-growth stocks like Intuitive Surgical [6][7] - The shares are down 12% from their January highs, suggesting a potential buying opportunity despite the recent rally [8]

Core Viewpoint - The healthcare industry is characterized by its resilience and defensive nature, making it less sensitive to economic cycles, which provides stability during market volatility and economic slowdowns [1][2]. Group 1: AbbVie - AbbVie has successfully transitioned from the loss of exclusivity of its key drug Humira by focusing on newer products, including immunology drugs Skyrizi and Rinvoq, which have shown strong sales growth [3][4]. - The company has secured a patent settlement for Rinvoq, extending its exclusivity in the U.S. until 2037, with projected annual revenues of $11 billion by 2027 for Rinvoq and $20 billion for Skyrizi [4]. - AbbVie reported a worldwide net revenue of $15.4 billion in Q2 2025, a 6.6% increase year over year, with immunology net revenue rising 9.5% and neuroscience revenue increasing by 24.2% [7]. - AbbVie has a strong dividend history, being a Dividend King with over 50 consecutive years of dividend increases, currently yielding about 2.8% [8]. Group 2: Medtronic - Medtronic has a diversified portfolio of medical devices across four segments: Cardiovascular, medical surgical, neuroscience, and diabetes, with the cardiovascular segment generating approximately $12.5 billion in revenue in fiscal 2025 [9][10]. - The neuroscience segment produced over $9.8 billion in revenue in fiscal 2025, with both cardiovascular and neuroscience segments accounting for nearly 70% of total revenue [11]. - The FDA approved Medtronic's BrainSense adaptive deep brain stimulation system for Parkinson's disease, marking a significant advancement in managing symptoms [12]. - Medtronic plans to separate its lower-margin diabetes business into a standalone company to focus on higher-margin growth areas [14]. - Following engagement with Elliott Investment Management, Medtronic appointed new board members and established committees to enhance growth and operational efficiency [15]. - Medtronic has a nearly 50-year history of increasing dividends, with a current yield of about 3% [17].

2 Important information Forward-looking statements and other important information Third quarter 2025 results Roy Jakobs, Chief Executive Officer Charlotte Hanneman, Chief Financial Officer November 4, 2025 Table of contents | Third quarter 2025 performance | 4 | | --- | --- | | 2025 outlook | 19 | | Financial appendix | 23 | © Koninklijke Philips N.V. This document and the related oral presentation, including responses to questions following the presentation, contain certain forward-looking statements with ...

Philips order intake climbed 8% in the third quarter amid robust demand for the manufacturer’s medical devices in the US https://t.co/OLJFhi7zHs ...

Philips Q3 Performance - Koninklijke Philips N.V. reported an Adjusted EBITA of €531 million for Q3 2025, exceeding analyst estimates of €486.1 million, driven by favorable mix effects and productivity measures [2][3] - The adjusted EBITA margin improved by 50 basis points to 12.3% [2] - Comparable order intake grew by 8%, particularly strong in North America [2] Sales Performance - Philips' sales for the quarter were €4.30 billion, slightly below the estimated €4.33 billion [3] - Comparable sales growth was recorded at 3.3%, falling short of the 3.57% estimate [3] - Despite the sales miss, Philips maintained its full-year 2025 outlook, expecting the adjusted EBITA margin to be at the upper end of the 11.3% to 11.8% range [3] Nexperia Dispute - China's Ministry of Commerce announced export exemptions for eligible Nexperia shipments, easing tensions in the semiconductor supply chain [4][5] - This decision followed high-level diplomatic engagements, including discussions between U.S. President Donald Trump and Chinese President Xi Jinping [5] South Korea's Nuclear Submarine Plans - South Korea is advancing its plans to develop nuclear-powered submarines by the mid-2030s, contingent on securing U.S. approval for nuclear fuel supply [6][8] - U.S. President Trump indicated approval for South Korea to build submarines, with a condition for construction in a U.S. shipyard [7][8] - South Korean officials emphasized the primary request was for nuclear fuel supply to enhance self-reliant defense capabilities against North Korea [8]

Core Insights - The company reported a 3% increase in revenue to DKK 27,874 million for FY 2024/25, with an organic growth of 7% and an EBIT margin of 28% [1][8] - The Board of Directors proposed a year-end dividend of DKK 18.00 per share, raising the total dividend for the year to DKK 23.00 per share, compared to DKK 22.00 per share last year [2] Financial Performance - EBIT for FY 2024/25 was DKK 7,670 million, reflecting a 5% increase from the previous year, with an EBIT margin improvement from 27% to 28% [8] - Adjusted net profit before special items was DKK 5,148 million, an increase of DKK 123 million from last year, with adjusted diluted EPS before special items rising by 2% to DKK 22.84 [8] - The adjusted free cash flow-to-sales ratio improved to 19% from 15% last year [8] Business Segments - Organic growth rates by business area were as follows: Ostomy Care 6%, Continence Care 8%, Voice & Respiratory Care 9%, Wound & Tissue Repair 8%, and Interventional Urology 2% [1] Special Items and Expenses - Special items expenses totaled DKK 469 million, related to profitability improvement initiatives, including the Skin Care divestment and management restructuring [2] Sustainability Initiatives - Production waste recycling increased to 83% in FY 2024/25, surpassing the 2025 target of 75% [3] - Scope 1 and 2 emissions decreased by 41% compared to the base year 2018/19, a significant improvement from the previous year's reduction of 22% [4] Future Guidance - For FY 2025/26, the company anticipates around 7% organic revenue growth and EBIT growth in constant currencies, with a return on invested capital expected to be around 16% [5][6] - Reported growth in DKK is projected at 4-5%, with a negative impact from currencies and the skin care divestment [5]

Core Insights - Coloplast reported a Q4 organic growth of 7% and an EBIT margin of 28%, with reported revenue in DKK remaining flat due to currency impacts and the divestment of the Skin Care segment [1][6] Business Area Performance - **Ostomy Care**: Achieved 7% organic growth, driven by product launches, particularly in Europe and Emerging Markets, while sales in China declined due to negative consumer sentiment and competitive pressures [2] - **Continence Care**: Growth of 9% was supported by strong sales of the Luja™ product for both male and female users [2] - **Voice & Respiratory Care**: Experienced 9% growth, attributed to strong performance in Laryngectomy and Tracheostomy segments [2] - **Wound & Tissue Repair**: Kerecis grew by 20% with a 14% EBIT margin before PPA amortization; however, Advanced Wound Dressings saw a decline of 6% due to a product return in China, impacting revenue by approximately DKK 60 million [3] - **Interventional Urology**: Growth was driven by the US Men's Health business, partially offset by a product recall in Kidney & Bladder Health, which negatively impacted revenue by around DKK 15 million in Q4 [4] Financial Performance - EBIT for the year was DKK 7,670 million, reflecting a 5% increase from the previous year, with an EBIT margin of 28%, up from 27% [11] - Adjusted net profit before special items was DKK 5,148 million, a DKK 123 million increase year-over-year, with adjusted diluted EPS before special items rising by 2% to DKK 22.84 [11] - The Board of Directors recommended a year-end dividend of DKK 18.00 per share, totaling DKK 23.00 for the year, compared to DKK 22.00 last year [7] Future Guidance - For FY 2025/26, the company anticipates around 7% organic revenue growth and EBIT growth in constant currencies, with reported growth in DKK expected at 4-5% [8] - The guidance assumes continued strong performance in Chronic Care and improved momentum in Acute Care, with a negative impact from currencies and the Skin Care divestment [8] - EBIT growth in constant currencies is expected to be supported by stable inflation levels and new investments related to the Impact4 strategy [9]

Core Viewpoint - CardioComm Solutions, Inc. has terminated a royalty agreement and entered into a $512,000 loan facility to advance its GEMS FLEX and 14-day Holter/LTCM ECG software platform, which is expected to be a major revenue source for the company [2][3]. Group 1: Loan Agreement Details - The Loan Agreement provides new working capital to complete and commercialize the GEMS FLEX and 14-day Holter and Event long-term continuous monitoring ECG software platform [3]. - Key terms of the Loan Agreement include finalizing the flagship product for market release, conducting user feedback reviews, launching and marketing the product, and providing post-launch support [6]. - The loan consists of $350,000 from Xemxija Holdings Inc., $80,000 from Etienne Grima, and $82,000 from ITF Ventures Inc. [7]. Group 2: Royalty Agreement Termination - The Royalty Agreement was terminated due to additional review requirements from the TSX Venture Exchange, which would delay capital access [4]. - A copy of the terminated Royalty Agreement has been filed on SEDAR+ as part of compliance with the Ontario Securities Commission [4]. Group 3: Related Party Transactions - The loans under the Loan Agreement and the issuance of Bonus Shares and Bonus Warrants are classified as related party transactions under Multilateral Instrument 61-101 [11]. - The Loan Transaction is exempt from formal valuation and minority shareholder approval requirements due to the terms being reasonable and not less advantageous than market terms [11]. - The Bonus Transaction is also exempt from minority shareholder approval as its value does not exceed 25% of the company's market capitalization [11].