An improving earnings profile, aggressive buybacks, and a renewed focus on margins might be changing how long-term investors think about this healthcare distributor.Chicago-based Zuckerman Investment Group disclosed a purchase of 72,040 additional shares of Henry Schein (HSIC +0.28%) in a November 13 SEC filing, increasing its stake by approximately $3.38 million from the previous period.What HappenedAccording to a November 13 SEC filing, Zuckerman Investment Group increased its holding in Henry Schein (HSI ...

Core Insights - The U.S. stock market has faced significant volatility in early 2025 due to trade policy changes under the new Trump administration, aggressive tariffs, and growing Sino-U.S. trade tensions [1][2] - The federal reserve rate cuts have lowered borrowing costs, positively impacting corporate profitability despite rising manufacturing costs and supply chain issues [2][3] Market Conditions - Trade-related risks and changes in monetary policy have led to frequent stock price fluctuations, but tech stocks have driven positive market momentum [3] - The overall annual inflation rate in 2025 was lower than expected despite a hike in energy prices [3] Growth Drivers for 2026 - Rapid AI infrastructure buildouts are anticipated to be a key growth driver across various industries, requiring substantial investment in computing infrastructure and data centers [4] - Companies with stable earnings and robust cash flow are expected to benefit from the emerging trends in AI investment [4] Company Highlights - **IBM**: Positioned as a major player in the AI landscape, with a free cash flow of $2.37 billion in Q3 2025, and a quarterly dividend of $1.68 per share, yielding 2.2% [7][9][10] - **Analog Devices, Inc. (ADI)**: Benefiting from strong growth in industrial and defense sectors, with an operating cash flow of $4.81 billion in fiscal 2025 and a quarterly dividend of 99 cents per share, yielding 1.43% [12][13][14] - **Johnson & Johnson (JNJ)**: Expected accelerated growth in its Innovative Medicine segment, with $17.22 billion in cash from operating activities and a quarterly dividend of $1.3 per share, yielding 2.5% [15][16] - **The Gap, Inc. (GAP)**: Strong brand performance and market share growth, with net cash from operating activities of $607 million and a quarterly dividend of 16 cents per share, yielding 2.52% [19][20] - **Hewlett Packard Enterprise (HPE)**: Benefiting from traction in the AI networking market, generating $2.5 billion in cash from operating activities and a quarterly dividend of 14 cents per share, yielding 2.33% [21]

With a market cap of $9 billion, Henry Schein, Inc. (HSIC) is a global provider of healthcare products and services for office-based dental and medical practitioners, as well as alternate sites of care worldwide. The company offers a comprehensive range of dental and medical supplies, equipment, pharmaceuticals, and technology solutions, including practice management software and digital services. Companies valued at $10 billion or more are generally classified as “large-cap” stocks, and Henry Schein fit ...

​Bausch + Lomb Corporation (NYSE:BLCO) is one of the Best Up and Coming Canadian Stocks to Buy. Wall Street has a cautious outlook on the stock despite an 8.59% increase in share price during the month. ​On November 13, Bausch + Lomb Corporation (NYSE:BLCO) highlighted its growth strategy at investor day. The management noted they have increased their focus on simplification and rebuilt the culture to embrace AI and technological innovation. The company unveiled that it targets 5% to 7% CAGR through 2028, ...

Core Insights - The ongoing trade tensions between Afghanistan and Pakistan have escalated since the Taliban's takeover in 2021, with Afghanistan seeking to diversify its trade routes away from Pakistan due to accusations of harboring militants [1][10] Trade Dynamics - Pakistan is Afghanistan's primary trading partner, accounting for 45% of Afghan exports in 2024, with over 70% of these exports, valued at $1.4 billion, consisting of perishable goods like figs, pistachios, grapes, and pomegranates [2][5] - The closure of the border on October 12 due to cross-border violence has resulted in significant losses exceeding $100 million for both countries, affecting around 25,000 border workers [5][10] Shifts in Trade Partnerships - In response to the border closure, Afghanistan is increasing trade with Iran and Central Asia, with trade volumes reportedly rising by 60-70% since mid-October [6][7] - Afghanistan has begun exporting apples and pomegranates to Russia, which is the only country to officially recognize the Taliban government [7] Export Challenges - Afghanistan faces challenges in exporting its agricultural products due to a lack of refrigerated storage, prompting calls for urgent exports to prevent spoilage [8] - The Taliban government is promoting Iran's Chabahar port as an alternative to Pakistan's ports, although it is noted to be more expensive and further away, compounded by US sanctions on Iran [9] Economic Impact - The trade war is impacting both economies, with Afghan produce nearly disappearing from markets in Pakistan, leading to significant price increases for items like grapes and tomatoes [10][11] - The Pakistan Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) has warned of escalating costs due to shipping containers being stuck in Pakistan, incurring daily charges of $150-$200 [12]

Summary of Lepu's 3Q25 Earnings Call Company Overview - **Company**: Lepu (300003.SZ) - **Industry**: Medical devices and pharmaceuticals in China Key Financial Results - **Revenue**: Rmb1,569 million, up 12% year-over-year, but missed Goldman Sachs estimates (GSe) of Rmb1,937 million due to softer pharmaceutical sales growth of 53% year-over-year compared to GSe's expectation of 70% [1][9] - **Net Profit**: Rmb291 million, up 176% year-over-year, in line with GSe's estimate of Rmb277 million [1][9] - **Selling Expense Ratio**: 17.3%, lower than GSe's estimate of 21.6% [1][9] Business Segments - **Medical Aesthetics**: Generated Rmb86 million in revenue from just two months of sales since August, with management reaffirming a full-year guidance of Rmb300 million for this segment [1][9] - **Future Projections**: Expected revenue from medical aesthetics to reach Rmb1 billion by 2026 [1][9] Product Development and Pipeline - **PDRN Product and Thermage**: Anticipated approval in Q1/Q2 of the following year [1][9] - **Innovative Drug Pipeline**: Two new assets added, with existing assets progressing as planned [1][9] Forecast Revisions - **Short-term Revenue Forecast**: Slightly lowered to reflect 3Q25 results [1][9] - **Long-term Revenue and Net Profit Forecast**: Increased due to optimistic R&D progress in innovative drugs [1][9] - **Updated Price Target**: Raised to Rmb19 from Rmb18, maintaining a Buy rating [1][9] Investment Thesis - **Market Position**: Lepu is positioned as a cardiovascular disease treatment and diagnostics solution provider, expanding into consumer medical products [1][9] - **Concerns**: Investors are wary due to the impact of the volume-based procurement (VBP) policy and anti-corruption campaigns affecting revenue growth [1][9] - **Long-term Growth Potential**: Innovative products and the medical aesthetic business are expected to offset revenue losses from VBP, providing long-term growth momentum [1][9] Key Catalysts 1. Successful launch of innovative products in 2025 2. Rapid ramp-up of pulsed sonic balloons and degradable PFO occluders, and TAVR [1][9] Risks - **Price Cuts**: Potential price reductions for innovative medical devices due to VBP [1][10] - **R&D Progress**: Risks associated with slower-than-expected R&D progress [1][10] - **Goodwill Impairment**: Possible losses from lower-than-expected earnings from subsidiaries [1][10]

Core Insights - Abbott Laboratories (NYSE:ABT) is recognized as a reliable healthcare company, with positive remarks from Jim Cramer, who described the stock as "terrific" and noted the company's long-standing presence in his investment trust [1] Financial Performance - Abbott Labs reported mixed results in their latest earnings update, which was perceived as disappointing in an otherwise positive market [1] - The company tightened its full-year earnings guidance instead of raising it, indicating a cautious outlook [1] - Abbott also lowered its organic sales growth forecast and operating margin outlook, suggesting potential challenges ahead [1]

Core Viewpoint - President Trump announced plans to impose new tariffs on pharmaceuticals and large trucks, aiming to protect American jobs and industries [1] Group 1: Pharmaceuticals - The proposed tariffs are part of a broader strategy to reduce dependency on foreign-made drugs and encourage domestic production [1] - The pharmaceutical industry is expected to face increased costs, which may lead to higher prices for consumers [1] Group 2: Trucking Industry - New levies on big trucks are intended to support American manufacturers and address trade imbalances [1] - The trucking industry may experience disruptions as companies adjust to the new tariffs, potentially impacting supply chains [1]

Group 1 - Fred Alger Management's "Alger Weatherbie Specialized Growth Fund" reported a 10.94% gain for Q2 2025, with Class A shares outperforming the Russell 2500 Growth Index [1] - Initial market volatility in April was due to trade policy uncertainty following President Trump's tariffs, but stability returned with a 90-day pause on new duties [1] - Market sentiment improved in May after the White House suspended reciprocal tariff hikes on China, contributing to the S&P 500 reaching a record high in June [1] Group 2 - Neogen Corporation (NASDAQ:NEOG) focuses on food and animal safety, but its stock experienced a -2.44% return over the last month and a 65.98% decline over the past 52 weeks [2] - As of September 23, 2025, Neogen's stock closed at $5.60 per share, with a market capitalization of $1.217 billion [2] - Neogen's performance was negatively impacted by fiscal third-quarter revenue and profitability falling below expectations, leading to a modest reduction in full-year 2025 guidance due to a weaker macroeconomic environment [3] Group 3 - Neogen Corporation was held by 28 hedge fund portfolios at the end of Q2 2025, an increase from 15 in the previous quarter, indicating growing interest [4] - Despite the potential of Neogen as an investment, certain AI stocks are viewed as having greater upside potential and lower downside risk [4]

Financial Results Announcement - Cardinal Health plans to release first-quarter financial results for fiscal year 2026 on October 30, prior to the opening of trading on the New York Stock Exchange [1] - A webcast discussion of these results will begin at 8:30 a.m. Eastern [1] Webcast Access - The webcast and corresponding slide presentation can be accessed via Cardinal Health's Investor Relations page without an access code [2] - Presentation slides and a webcast replay will be available on the Investor Relations page for 12 months [2] Company Overview - Cardinal Health is a distributor of pharmaceuticals and specialty products, a supplier of home-health and direct-to-patient products and services, and an operator of nuclear pharmacies and manufacturing facilities [3] - The company provides performance and data solutions and is a global manufacturer and distributor of medical and laboratory products [3] - Cardinal Health's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives [3]