Core Viewpoint - KORU Medical Systems, Inc. has appointed Eric Schiller as Chief Technology Officer, effective December 29, 2025, bringing over 25 years of leadership experience in research and development [1] Company Overview - KORU Medical is a leading medical technology company focused on developing, manufacturing, and commercializing innovative and patient-centric large volume subcutaneous infusion solutions [1] Leadership Change - The appointment of Eric Schiller is expected to enhance the company's technological capabilities and innovation in the medical technology sector [1] Future Outlook - The company aims to leverage Schiller's extensive experience to drive advancements in its product offerings and improve patient care solutions [1]

Core Insights - Carlsmed, Inc. will be presenting at the J.P. Morgan 2026 Healthcare conference on January 14th, 2026, from 4:30-5:10 pm PT in San Francisco, CA [1] - The company will also host one-on-one investor meetings during the conference [1] Company Overview - Carlsmed is a medical technology company focused on AI-enabled personalized spine surgery solutions [2] - The company's mission is to improve healthcare outcomes and reduce costs associated with spine surgery and related procedures [2]

Core Insights - Riverwater Partners' Small Cap Strategy reported solid results for Q3 2025 but lagged behind the benchmark due to the market's preference for lower-quality companies [1] - The strategy focuses on higher-quality companies with strong fundamentals and a clear path to profitability, positioning itself well in a challenging market [1] Company Performance - Haemonetics Corporation (NYSE:HAE) had a one-month return of 8.06% but experienced a 2.03% decline over the last 52 weeks, closing at $80.40 per share with a market capitalization of $3.873 billion [2] - The company faced challenges due to softer-than-expected demand in certain product lines, leading to a decision to exit the position in Q3 2025 to redeploy capital into opportunities with clearer near-term catalysts [3] Revenue and Market Position - In Q2 of fiscal 2026, Haemonetics reported revenue of $327 million, reflecting a 5% decline [4] - Despite its potential, Haemonetics is not among the most popular stocks among hedge funds, with 36 hedge fund portfolios holding its shares at the end of Q3, up from 29 in the previous quarter [4]

Core Viewpoint - MediBeacon Inc., in which INNOVATE Corp. holds a 44.7% equity interest, has received FDA approval for its next-generation TGFR System, which includes the TGFR Reusable Sensor, enhancing kidney function assessment technology [1][7]. Group 1: Product Details - The TGFR System allows for kidney function assessment at the point of care by measuring the clearance rate of Lumitrace (relmapirazin), a non-radioactive, non-iodinated fluorescent GFR agent [2]. - The TGFR Reusable Sensor is designed for patient comfort, ease of application, and reusability, reducing costs compared to the previously approved single-use TGFR Sensor [3]. - The TGFR System records Lumitrace fluorescence intensity transdermally at a rate of 2.5 readings per second, providing real-time data on kidney function [12]. Group 2: Clinical Validation and Research - The TGFR System was featured in a lead peer-reviewed article in the Journal of the American Society of Nephrology, highlighting its application across various levels of kidney function and skin colors [4]. - MediBeacon has a strong research background with over 700 peer-reviewed publications and conference abstracts utilizing the transdermal GFR methodology [5]. Group 3: Market Strategy and Future Plans - MediBeacon plans to offer early access to the TGFR System at leading academic medical centers in the U.S. and China, with initial sales expected to begin in the first quarter of 2026 [5][7]. - The company aims to integrate transdermal GFR technology into ongoing heart failure studies, emphasizing its potential to improve patient monitoring and accuracy in kidney function assessment [6]. Group 4: Company Overview - INNOVATE Corp. is focused on key areas of the new economy, including Infrastructure, Life Sciences, and Spectrum, employing approximately 3,100 people across its subsidiaries [8]. - MediBeacon specializes in fluorescent tracer agents and transdermal detection technology, holding over 60 granted U.S. patents and more than 245 patents worldwide [9].

Core Insights - Novanta Inc. is a trusted technology partner for medical and advanced technology equipment manufacturers, focusing on providing core technology solutions that enhance competitive advantage [2] Company Overview - Novanta is a leading global supplier of core technology solutions, specializing in precision medicine, medical solutions, and robotics and automation [2] - The company combines proprietary technology expertise with the ability to solve complex technical challenges, enabling the engineering of core components and sub-systems that deliver high precision and performance [2] - Novanta's growth is driven by a team of innovative professionals committed to innovation and customer success [2] - The company's common shares are traded on Nasdaq under the ticker symbol "NOVT" [2]

Core Viewpoint - Wasatch Global Investors reported that US small-cap equities experienced a strong rally in Q3 2025, supported by the Federal Reserve's interest rate cut, but the Wasatch Small Cap Growth Strategy fund underperformed, ending down -3.17% compared to a 12.19% gain for the Russell 2000 Growth Index [1]. Company Summary - Inspire Medical Systems, Inc. (NYSE:INSP) is a medical technology company focused on minimally invasive solutions for obstructive sleep apnea, with a one-month return of 53.98% but a 52-week loss of 30.79%, closing at $130.68 per share and a market capitalization of $3.865 billion as of December 12, 2025 [2]. - Inspire Medical Systems reported revenue of $224.5 million in Q3 2025, marking a 10% increase from Q3 2024 [4]. Investment Decisions - The Wasatch Small Cap Growth Strategy decided to sell its position in Inspire Medical Systems during Q3 2025 due to management downgrading full-year guidance and concerns about the execution of the Inspire V system rollout, as well as potential market impacts from GLP-1 drugs [3]. - Inspire Medical Systems is not among the 30 most popular stocks among hedge funds, with 48 hedge fund portfolios holding the stock at the end of Q3 2025, an increase from 34 in the previous quarter [4].

Collaboration Overview - Lunit has announced a collaboration with Daiichi Sankyo to enhance biomarker discovery and optimize translational research using Lunit SCOPE digital pathology products across two oncology programs [1][2][3] Technology and Applications - Daiichi Sankyo will utilize Lunit SCOPE solutions, including SCOPE uIHC for quantitative IHC analysis and SCOPE IO for immune phenotyping and spatial analysis, to identify novel biomarkers and improve clinical trial support [2][3] - Lunit SCOPE aims to extract insights from pathology slides, quantifying tumor microenvironments and predicting molecular profiles to inform trial design [3] Research and Development Impact - The collaboration will involve exploratory research projects across multiple cancer types, potentially influencing future trial designs, biomarker strategies, and clinical development plans [3] Company Background - Lunit, founded in 2013, is a leader in AI for cancer diagnostics, offering solutions that enhance early detection and treatment decisions across the cancer care continuum [4][5] - The company’s Lunit SCOPE platform is utilized in research partnerships for biomarker research and companion diagnostic development [5][6] Global Reach - Lunit's solutions are trusted by over 10,000 sites in more than 65 countries, combining medical expertise with evolving datasets to impact patients, clinicians, and researchers [6]

Core Insights - The U.S. FDA has granted 510(k) clearance to 3D Systems, expanding the VSP® Orthopedics platform to include skeletally mature adolescents, enhancing its market reach [1][3]. Regulatory Impact - The regulatory clearance eliminates the need for case-by-case compassionate-use approvals and hospital IRB reviews, streamlining workflows and converting off-label usage into standard, reimbursable procedures [6]. - This decision opens the U.S. adolescent bone sarcoma and deformity market to 3D Systems' platform, addressing a previously underserved patient population [3][6]. Market Opportunity - There are over 1,200 new annual U.S. cases of osteosarcoma and Ewing sarcoma in patients under 20, along with an additional 2,600 primary bone cancer cases in young adults aged 20-39 [6]. - The platform also targets thousands of complex lower-limb osteotomies and reconstructive procedures annually for congenital, developmental, and trauma-related deformities in adolescents [6]. Financial Model - The VSP Orthopedics cases generate service fees for virtual planning, combined with revenue from patient-specific 3D-printed anatomic models and single-use surgical guides, contributing to strong double-digit annual growth rates and high gross margins in the Med Tech business [6]. Competitive Advantage - 3D Systems is the only provider with FDA-cleared VSP solutions across craniomaxillofacial and orthopedic applications, with over 400,000 total patient-matched cases and devices delivered to date [6]. Reimbursement Landscape - Procedures are covered under existing DRG/CPT codes for tumor resection, osteotomy, and reconstruction, requiring no changes [6].

Core Insights - Investment strategist Shay Boloor has identified ten sub-$10 billion market-cap companies poised to benefit from long-term trends leading into 2026, focusing on essential platforms and hard infrastructure rather than short-term narratives [1][19] Company Summaries - **Ondas Holdings (NASDAQ: ONDS)**: Developing a wireless connectivity layer for industrial and autonomous drones, with strong revenue growth momentum and a year-to-date stock increase of over 230% [2][3] - **Cipher Mining (NASDAQ: CIFR)**: Transitioning to a digital infrastructure owner with large-scale power and data-center assets, stock up over 250% year to date [6] - **Jumia Technologies (NYSE: JMIA)**: Refining its e-commerce and logistics model in Africa, with improved order volumes and a stock gain of about 215% [7] - **DigitalOcean Holdings (NYSE: DOCN)**: Regaining investor confidence with strong earnings and positioning as an AI inference cloud, stock up 40% year to date [8] - **IREN Limited (NASDAQ: IREN)**: Expanding compute capacity with record profitability and a nearly 285% stock increase [9] - **ClearPoint Neuro (NASDAQ: CLPT)**: Advancing image-guided navigation platforms for neurosurgeons, with a stock decrease of 18% year to date [10] - **Eos Energy Enterprises (NASDAQ: EOSE)**: Developing zinc-based energy storage systems for high-load environments, stock up 170% year to date [11] - **Navitas Semiconductor (NASDAQ: NVTS)**: Supplies gallium nitride power chips for AI data centers, stock up 145% year to date despite near-term pressures [14] - **Viking Therapeutics (NASDAQ: VKTX)**: Developing GLP-1 therapies for obesity and diabetes, with a stock decrease of about 10% [16] - **TransMedics Group (NASDAQ: TMDX)**: Scaling its organ care system with a focus on logistics, stock up about 90% [18]

Core Viewpoint - The healthcare sector is anticipated to potentially rebound in 2026, with several attractive stocks identified for investment, including AbbVie, Eli Lilly, and Intuitive Surgical. AbbVie - AbbVie is recognized as a reliable dividend payer, boasting 54 consecutive payout increases, qualifying it as a Dividend King [3] - The company reported third-quarter revenue of $15.8 billion, reflecting a 9% increase year-over-year [4] - AbbVie's product portfolio includes key drugs such as Vraylar, Botox Therapeutics, Qulipta, Skyrizi, and Rinvoq, which are expected to drive future growth [6][8] - Skyrizi is projected to become the second best-selling drug globally by 2030, with estimated sales of $26.6 billion [7] Eli Lilly - Eli Lilly's third-quarter revenue reached $17.6 billion, marking a significant 54% year-over-year growth [9] - The company is leveraging tirzepatide, marketed as Zepbound and Mounjaro, to sustain its growth trajectory, alongside promising pipeline candidates like orforglipron [10] - Eli Lilly is diversifying its portfolio, with recent launches in oncology, including Jaypirca for mantle cell lymphoma and Inluriyo for breast cancer [13] - The company's strategic investments in artificial intelligence and other therapeutic areas position it favorably for future growth [14] Intuitive Surgical - Intuitive Surgical faces challenges from tariffs and increased competition, particularly from Medtronic's Hugo system [15] - Despite these challenges, the company maintains a strong economic moat with 10,763 da Vinci systems installed, which creates high switching costs for customers [16] - The da Vinci system has over two decades of clinical evidence supporting its effectiveness, allowing Intuitive Surgical to command significant pricing power [18] - The company is expected to benefit from label expansions and increased procedure volumes, which will enhance revenue and margins over time [19]