Group 1 - HCA Healthcare, Inc. operates a network of 190 hospitals and approximately 2,400 ambulatory care sites, with a significant reduction in share count by 44% since the end of 2015 [1] - The stock reached new all-time highs last month but has since pulled back nearly $50 without a specific reason, indicating a potential buying opportunity [1] - L1 Capital has reduced its investment in HCA Healthcare due to strong share price appreciation, although it remains a retained investment, no longer a top 10 holding [2] Group 2 - The market has previously reacted pessimistically to potential regulatory developments affecting HCA, creating opportunities for investment at attractive price levels [2] - Current expectations for operating conditions are more balanced, and the share price has increased significantly, leading to a less favorable risk-adjusted return potential from the current price [2] - There is a belief that certain AI stocks may offer greater upside potential and carry less downside risk compared to HCA [2]

Core Viewpoint - Merit Medical Systems, Inc. is set to release its financial results for Q3 2025 on October 30, 2025, and will hold an investor conference call on the same day [1]. Company Overview - Merit Medical Systems, Inc. was founded in 1987 and specializes in the development, manufacture, and distribution of proprietary medical devices for interventional, diagnostic, and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care, and endoscopy [3]. - The company serves a global customer base with a sales force and clinical support team of over 800 individuals and employs approximately 7,400 people worldwide [3]. Investor Communication - Investors can pre-register for the conference call through a provided link, and a live webcast along with a slide deck will be accessible [2]. - The conference call is scheduled for October 30, 2025, at 5:00 p.m. Eastern Time [1].