Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at GE HealthCare (NASDAQ: GEHC) and the best and worst performers in the healthcare equipment and supplies industry.

The healthcare equipment and supplies sector thrives on innovation in medical devices and consumables, the latter providing recurring revenue. Future growth is buoyed by an aging population with increasing chronic diseases and a shift towards minimally-invasive surgery. Advancements in materials science and AI-driven diagnostics also offer significant opportunities. Key headwinds remain, including pricing pressure from cost-conscious healthcare providers, evolving regulations, and potential supply chain disruptions.

The 37 healthcare equipment and supplies stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 1.9% while next quarter’s revenue guidance was 1.7% below.

While some healthcare equipment and supplies stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4.2% since the latest earnings results.

GE HealthCare (NASDAQ: GEHC)

Spun off from industrial giant General Electric in 2023 after over a century as its healthcare division, GE HealthCare (NASDAQ: GEHC) provides medical imaging equipment, patient monitoring systems, diagnostic pharmaceuticals, and AI-enabled healthcare solutions to hospitals and clinics worldwide.

GE HealthCare reported revenues of $5.30 billion, up 5.8% year on year. This print exceeded analysts’ expectations by 0.5%. Overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates.

GE HealthCare President and CEO Peter Arduini said, “We delivered record orders and backlog in the second quarter, with orders growth across every segment, demonstrating strong commercial execution, including the adoption of new products. In Patient Care Solutions, while we are focused on returning the business to growth and profitability, we are reviewing strategic options to maximize its long-term value. Our continued investment in precision innovation is expanding our addressable markets, strengthening our competitive position and supporting durable short- and long-term growth.”

Interestingly, the stock is up 2.8% since reporting and currently trades at $65.92.

Is now the time to buy GE HealthCare? Access our full analysis of the earnings results here, it’s free.

Best Q2: Baxter (NYSE: BAX)

With a history dating back to 1931 and products used in over 100 countries, Baxter International (NYSE: BAX) provides essential healthcare products including dialysis therapies, IV solutions, infusion systems, surgical products, and patient monitoring technologies to hospitals and clinics worldwide.

Baxter reported revenues of $2.96 billion, up 5.3% year on year, outperforming analysts’ expectations by 6%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.

Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 5.6% since reporting. It currently trades at $23.39.

Is now the time to buy Baxter? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: LeMaitre (NASDAQ: LMAT)

Founded in 1983 and named after a pioneering vascular surgeon, LeMaitre Vascular (NASDAQGM:LMAT) develops and manufactures specialized medical devices used by vascular surgeons to treat peripheral vascular disease and other circulatory conditions.

LeMaitre reported revenues of $70.38 million, up 9.6% year on year, falling short of analysts’ expectations by 1.7%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS guidance for next quarter estimates and a significant miss of analysts’ EPS estimates.

LeMaitre delivered the weakest guidance update among its peers. As expected, the stock is down 22.9% since the results and currently trades at $81.60.

Read our full analysis of LeMaitre’s results here.

STERIS (NYSE: STE)

With a mission critical role in preventing healthcare-associated infections, STERIS (NYSE: STE) provides infection prevention products, sterilization services, and medical equipment that help healthcare facilities and life science companies maintain sterile environments.

STERIS reported revenues of $1.49 billion, up 7.3% year on year. This result was in line with analysts’ expectations. More broadly, it was a mixed quarter as its performance in some other areas of the business was disappointing.

The stock is down 12.2% since reporting and currently trades at $204.34.

Read our full, actionable report on STERIS here, it’s free.

Lantheus (NASDAQ: LNTH)

Pioneering the "Find, Fight and Follow" approach to disease management, Lantheus Holdings (NASDAQGM:LNTH) develops and commercializes radiopharmaceuticals and other imaging agents that help healthcare professionals detect, diagnose, and treat diseases.

Lantheus reported revenues of $388.2 million, up 2.7% year on year. This number surpassed analysts’ expectations by 7.8%. It was a stunning quarter as it also recorded a beat of analysts’ EPS estimates.

Lantheus pulled off the biggest analyst estimate beat of the whole group. The stock is down 1.7% since reporting and currently trades at $99.76.

Read our full, actionable report on Lantheus here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.