Daily Brief Health Care: Edwards Lifesciences, Abbott Laboratories, Boston Scientific, Teladoc Health, Inc., Dentsply International, Bristol Myers Squibb Co, Merck & Co, Narayana Hrudayalaya Ltd, Abbvie Inc and more

• Edwards Lifesciences reported third-quarter 2024 results, showcasing notable achievements with financial metrics and strategic advancements across various product lines.
• The company, specialized in structural heart disease innovations, marked a revenue of $1.4 billion, a rise of 10% on a constant currency basis compared to the year prior, subtly surpassing expectations.
• Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

• Abbott has demonstrated robust performance in its third quarter of 2024 with an organic sales growth of over 8%, excluding COVID testing sales, and adjusted earnings per share of $1.21.
• These results underscore the company’s capacity to execute its multifaceted strategy effectively, despite varying performance across different sectors.
• Notably, the U.S. Pediatric Nutrition segment showed remarkable growth, leading with a 12% increase due to gains in the infant formula business.

• Boston Scientific Corporation presented its third quarter of 2024 financial results, reflecting a strong performance that exceeded company forecasts and investor expectations.
• The corporation reported a significant growth in operational sales by 19% and organic sales by 18%, surpassing the anticipated guidance range of 13% to 15%.
• Adjusted earnings per share (EPS) grew by 27% to $0.63, also exceeding the projections of $0.57 to $0.59.

• Teladoc is the largest telehealth provider in the US with over 92 million members in its B2B network and 400,000 paying users for BetterHelp
• The company has experienced a decline in stock value due to expensive acquisitions, growth challenges, and leadership changes
• Despite setbacks, Teladoc’s scale, profitability, and potential to offer comprehensive solutions may position it as a survivor in the competitive telehealth industry.

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• Dentsply Sirona’s third quarter 2024 results present a nuanced picture, with both challenges and advancements across its business segments.
• The company reported $951 million in revenue, marking a modest increase of 0.5% on a reported basis and a 1.3% rise on an organic basis year-over-year.
• This growth was primarily driven by timing impacts, as distributors made advance purchases in the Essential Dental Solutions (EDS) segment due to the upcoming U.S. ERP deployment.

• Bristol-Myers Squibb’s third quarter 2024 earnings highlight a period of robust growth and strategic advancements, albeit accompanied by challenges typical of large pharmaceutical companies.
• On the positive side, the company reported a noteworthy 20% revenue increase in its growth portfolio at constant currency, which now contributes to approximately half of the total revenues.
• This growth is supported by products with exclusivity extending into the next decade, underscoring the company’s successful pipeline development and launch of new therapies.

• Merck & Co. has demonstrated robust operational performance and strategic advances in its third quarter earnings, navigating through both burgeoning opportunities and prevailing challenges.
• The company’s financials exhibited a 4% revenue growth, or 7% on a constant currency basis, driven by enhanced global uptake of KEYTRUDA in oncology, favorable launches of products like WINREVAIR and CAPVAXIVE, and a strong performance in the Animal Health sector.
• Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

• Narayana Hrudayalaya Ltd (NARH IN) is on an expansion spree and looks to add further 1500 beds in the next four years, to its 5683 operational beds as at FY24.
• As far as forensics are concerned, the company has shown improvement in its capital allocation, shown ramp up/turnaround in some hospitals; also impairments are done with in the past. 
• However, few concerns loom over PPE disposals and non-reconciliation with cash flows, treatment of reversal of provisions and high growth rate assumed in goodwill CGU.

• AbbVie has reported noteworthy third-quarter results for 2024, outperforming expectations with strong core growth driven largely by its ex-HUMIRA platform.
• The company’s diversified portfolio highlighted significant achievements, with sales reaching $260 million above forecasts and demonstrating robust mid-single-digit operational sales growth.
• The impressive performance of SKYRIZI and RINVOQ has been particularly pivotal, contributing to a projected combined sales of over $17 billion for the year, surpassing initial expectations by $1.3 billion.