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2021-12-26
Too bad
COVID uptick to hurt MedTech firms and healthcare providers in early 2022 - Goldman Sachs<blockquote>2022年初，新冠疫情上升将损害医疗科技公司和医疗保健提供商——高盛</blockquote>
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They predict that there could be more visibility by mid-2022 when “vaccines, natural immunity, antivirals and better overall management experience with Covid should increase the likelihood of recovery.”</li> <li>Contrasting its projections in early 2021, the bank avoids modeling “MedTech procedure volumes to rebound to above pre-Covid trend due to pent-up demand or backlog.\" The analysts expect the companies to indicate this in their initial forecasts for next year implying further room for downward revisions in Street forecasts which, according to them, could be the last COVID-induced revision to MedTech estimates.</li> <li>Goldman Sachs added Intuitive Surgical(NASDAQ:ISRG)to the firm’s conviction list, citing a potential launch of its multiport system in the first quarter. The maker of da Vinci Surgical System stands alongside Becton Dickinson(NYSE:BDX)and Zimmer Biomet(NYSE:ZBH)as a top large-cap pick in the space. However, the firm is less constructive on Stryker(NYSE:SYK), Medtronic(NYSE:MDT), Edwards Lifesciences(NYSE:EW), and Abbott(NYSE:ABT). See the graph below to compare how some of the above stocks have performed over the past year.</li> <li>According to Seeking Alpha Quant Ratings, none of the large-cap MedTech companies, including Abbott (ABT), Medtronic (MDT), Intuitive Surgical (ISRG), and Stryker (SYK), have Bullish prospects. The hospital operator HCA Healthcare(NYSE:HCA)is the only large-cap healthcare provider with a Bullish rating.</li> <li>Meanwhile, Goldman Sachs cites a favorable backdrop in managed care space. Despite the ongoing limits to procedure volumes amid labor constraints and shift to low-cost settings, the companies in the subsector are conservatively priced, implying the return of deferred care and COVID costs, the analysts argue.</li> </ul></p><p><blockquote><li>以Asad Haider为首的分析师上周发布了2022年医疗保健投资组合的主题，警告称，随着病毒奥密克戎变种的兴起，可能至少还会出现一波COVID-19浪潮。</li><li>尽管“正常化”的时间表存在不确定性，但该团队认为该疾病有可能在中期内达到流行状态，使某些商业公司以及那些利用医院和程序的公司受益。</li><li>围绕这种情况对利用率的影响，分析师将注意力转向医疗技术、医疗保健提供和管理式医疗。</li><li>根据他们的说法，新冠肺炎病例的死灰复燃可能会损害2022年H1的手术量，并加剧护理短缺，这反过来可能会导致选择性手术放缓，并在2022年H2消退之前限制手术量的恢复。</li><li>分析师阿米特·哈赞(Amit Hazan)和团队写道：“预计相对表现不佳至少会持续到春季，届时人数的重置和医院限制的减少可能会促进经济复苏。”他们预测，到2022年中期，“疫苗、天然免疫、抗病毒药物和更好的新冠病毒整体管理经验应该会增加康复的可能性。”</li><li>与2021年初的预测相比，该银行避免模拟“由于被压抑的需求或积压，医疗技术手术量将反弹至高于新冠疫情前的趋势”。分析师预计，这些公司将在明年的初步预测中表明这一点，这意味着街头预测还有进一步下调的空间，据他们称，这可能是最后一次由新冠疫情引发的对医疗技术预测的修正。</li><li>高盛将Intuitive Surgical（纳斯达克股票代码：ISRG）添加到该公司的定罪名单中，理由是其多端口系统可能会在第一季度推出。这家达芬奇手术系统制造商与Becton Dickinson(NYSE：BDX)和Zimmer Biomet(NYSE：ZBH)一起成为该领域的顶级大盘股。然而，该公司对史赛克(NYSE：SYK)、美敦力(NYSE：MDT)、爱德华兹生命科学(NYSE：EW)和雅培(NYSE：ABT)的建设性态度较差。请参阅下图，比较上述部分股票在过去一年的表现。</li><li>根据Seeking Alpha Quant Ratings的数据，包括雅培(ABT)、美敦力(MDT)、Intuitive Surgical(ISRG)和Stryker(SYK)在内的大型医疗科技公司都没有看涨的前景。医院运营商HCA Healthcare（纽约证券交易所股票代码：HCA）是唯一一家获得看涨评级的大型医疗保健提供商。</li><li>与此同时，高盛指出了管理式医疗领域的有利背景。分析师认为，尽管由于劳动力限制和向低成本环境的转变，手术量持续受到限制，但该子行业的公司定价保守，这意味着延期护理和新冠疫情成本的回归。</li></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCOVID uptick to hurt MedTech firms and healthcare providers in early 2022 - Goldman Sachs<blockquote>2022年初，新冠疫情上升将损害医疗科技公司和医疗保健提供商——高盛</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-25 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p><ul> <li>The ongoing resurgence of the pandemic could limit recovery in hospital procedure volumes and delay the rebound in MedTech procedures at least through early 2022, a team of analysts from Goldman Sachs argues.</p><p><blockquote><ul><li>高盛（Goldman Sachs）的一组分析师认为，疫情的持续卷土重来可能会限制医院手术量的恢复，并将医疗技术手术的反弹至少推迟到2022年初。</li></ul></blockquote></p><p></li> <li>Issuing themes for portfolio set up in healthcare for 2022, the analysts led by Asad Haider warned last week that there could be at least one more COVID-19 wave with the rise of the Omicron variant of the virus.</li> <li>Despite the uncertainty over a timeline for the “normalization,” the team sees potential for the disease to reach endemic status in the intermediate term, benefitting certain commercial firms and those leveraged on hospitals and procedures.</li> <li>Focusing on the impact of such a scenario on utilization, the analysts turn their attention to MedTech, healthcare provision, and managed care.</li> <li>According to them, the resurgence of COVID-19 cases could hurt procedure volumes in H1 2022 and worsen the nursing shortages, which in turn could result in a slowdown in elective procedures and limit the recovery in surgery volumes before subsiding in H2 2022.</li> <li>“Expect relative underperformance to continue until at least the Spring, when a resetting of numbers and reduced hospital constraints could foster a recovery,” the analysts Amit Hazan and the team wrote. They predict that there could be more visibility by mid-2022 when “vaccines, natural immunity, antivirals and better overall management experience with Covid should increase the likelihood of recovery.”</li> <li>Contrasting its projections in early 2021, the bank avoids modeling “MedTech procedure volumes to rebound to above pre-Covid trend due to pent-up demand or backlog.\" The analysts expect the companies to indicate this in their initial forecasts for next year implying further room for downward revisions in Street forecasts which, according to them, could be the last COVID-induced revision to MedTech estimates.</li> <li>Goldman Sachs added Intuitive Surgical(NASDAQ:ISRG)to the firm’s conviction list, citing a potential launch of its multiport system in the first quarter. The maker of da Vinci Surgical System stands alongside Becton Dickinson(NYSE:BDX)and Zimmer Biomet(NYSE:ZBH)as a top large-cap pick in the space. However, the firm is less constructive on Stryker(NYSE:SYK), Medtronic(NYSE:MDT), Edwards Lifesciences(NYSE:EW), and Abbott(NYSE:ABT). See the graph below to compare how some of the above stocks have performed over the past year.</li> <li>According to Seeking Alpha Quant Ratings, none of the large-cap MedTech companies, including Abbott (ABT), Medtronic (MDT), Intuitive Surgical (ISRG), and Stryker (SYK), have Bullish prospects. The hospital operator HCA Healthcare(NYSE:HCA)is the only large-cap healthcare provider with a Bullish rating.</li> <li>Meanwhile, Goldman Sachs cites a favorable backdrop in managed care space. Despite the ongoing limits to procedure volumes amid labor constraints and shift to low-cost settings, the companies in the subsector are conservatively priced, implying the return of deferred care and COVID costs, the analysts argue.</li> </ul></p><p><blockquote><li>以Asad Haider为首的分析师上周发布了2022年医疗保健投资组合的主题，警告称，随着病毒奥密克戎变种的兴起，可能至少还会出现一波COVID-19浪潮。</li><li>尽管“正常化”的时间表存在不确定性，但该团队认为该疾病有可能在中期内达到流行状态，使某些商业公司以及那些利用医院和程序的公司受益。</li><li>围绕这种情况对利用率的影响，分析师将注意力转向医疗技术、医疗保健提供和管理式医疗。</li><li>根据他们的说法，新冠肺炎病例的死灰复燃可能会损害2022年H1的手术量，并加剧护理短缺，这反过来可能会导致选择性手术放缓，并在2022年H2消退之前限制手术量的恢复。</li><li>分析师阿米特·哈赞(Amit Hazan)和团队写道：“预计相对表现不佳至少会持续到春季，届时人数的重置和医院限制的减少可能会促进经济复苏。”他们预测，到2022年中期，“疫苗、天然免疫、抗病毒药物和更好的新冠病毒整体管理经验应该会增加康复的可能性。”</li><li>与2021年初的预测相比，该银行避免模拟“由于被压抑的需求或积压，医疗技术手术量将反弹至高于新冠疫情前的趋势”。分析师预计，这些公司将在明年的初步预测中表明这一点，这意味着街头预测还有进一步下调的空间，据他们称，这可能是最后一次由新冠疫情引发的对医疗技术预测的修正。</li><li>高盛将Intuitive Surgical（纳斯达克股票代码：ISRG）添加到该公司的定罪名单中，理由是其多端口系统可能会在第一季度推出。这家达芬奇手术系统制造商与Becton Dickinson(NYSE：BDX)和Zimmer Biomet(NYSE：ZBH)一起成为该领域的顶级大盘股。然而，该公司对史赛克(NYSE：SYK)、美敦力(NYSE：MDT)、爱德华兹生命科学(NYSE：EW)和雅培(NYSE：ABT)的建设性态度较差。请参阅下图，比较上述部分股票在过去一年的表现。</li><li>根据Seeking Alpha Quant Ratings的数据，包括雅培(ABT)、美敦力(MDT)、Intuitive Surgical(ISRG)和Stryker(SYK)在内的大型医疗科技公司都没有看涨的前景。医院运营商HCA Healthcare（纽约证券交易所股票代码：HCA）是唯一一家获得看涨评级的大型医疗保健提供商。</li><li>与此同时，高盛指出了管理式医疗领域的有利背景。分析师认为，尽管由于劳动力限制和向低成本环境的转变，手术量持续受到限制，但该子行业的公司定价保守，这意味着延期护理和新冠疫情成本的回归。</li></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3783326-covid-uptick-to-hurt-medtech-firms-and-healthcare-providers-in-early-2022-goldman-sachs\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛"},"source_url":"https://seekingalpha.com/news/3783326-covid-uptick-to-hurt-medtech-firms-and-healthcare-providers-in-early-2022-goldman-sachs","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198358760","content_text":"The ongoing resurgence of the pandemic could limit recovery in hospital procedure volumes and delay the rebound in MedTech procedures at least through early 2022, a team of analysts from Goldman Sachs argues.\nIssuing themes for portfolio set up in healthcare for 2022, the analysts led by Asad Haider warned last week that there could be at least one more COVID-19 wave with the rise of the Omicron variant of the virus.\nDespite the uncertainty over a timeline for the “normalization,” the team sees potential for the disease to reach endemic status in the intermediate term, benefitting certain commercial firms and those leveraged on hospitals and procedures.\nFocusing on the impact of such a scenario on utilization, the analysts turn their attention to MedTech, healthcare provision, and managed care.\nAccording to them, the resurgence of COVID-19 cases could hurt procedure volumes in H1 2022 and worsen the nursing shortages, which in turn could result in a slowdown in elective procedures and limit the recovery in surgery volumes before subsiding in H2 2022.\n“Expect relative underperformance to continue until at least the Spring, when a resetting of numbers and reduced hospital constraints could foster a recovery,” the analysts Amit Hazan and the team wrote. They predict that there could be more visibility by mid-2022 when “vaccines, natural immunity, antivirals and better overall management experience with Covid should increase the likelihood of recovery.”\nContrasting its projections in early 2021, the bank avoids modeling “MedTech procedure volumes to rebound to above pre-Covid trend due to pent-up demand or backlog.\" The analysts expect the companies to indicate this in their initial forecasts for next year implying further room for downward revisions in Street forecasts which, according to them, could be the last COVID-induced revision to MedTech estimates.\nGoldman Sachs added Intuitive Surgical(NASDAQ:ISRG)to the firm’s conviction list, citing a potential launch of its multiport system in the first quarter. The maker of da Vinci Surgical System stands alongside Becton Dickinson(NYSE:BDX)and Zimmer Biomet(NYSE:ZBH)as a top large-cap pick in the space. However, the firm is less constructive on Stryker(NYSE:SYK), Medtronic(NYSE:MDT), Edwards Lifesciences(NYSE:EW), and Abbott(NYSE:ABT). See the graph below to compare how some of the above stocks have performed over the past year.\nAccording to Seeking Alpha Quant Ratings, none of the large-cap MedTech companies, including Abbott (ABT), Medtronic (MDT), Intuitive Surgical (ISRG), and Stryker (SYK), have Bullish prospects. The hospital operator HCA Healthcare(NYSE:HCA)is the only large-cap healthcare provider with a Bullish rating.\nMeanwhile, Goldman Sachs cites a favorable backdrop in managed care space. Despite the ongoing limits to procedure volumes amid labor constraints and shift to low-cost settings, the companies in the subsector are conservatively priced, implying the return of deferred care and COVID costs, the analysts argue.","news_type":1,"symbols_score_info":{"GS":0.9}},"isVote":1,"tweetType":1,"viewCount":3947,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":6,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/698528688"}
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