The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how QuidelOrtho (NASDAQ: QDEL) and the rest of the healthcare equipment and supplies stocks fared in Q2.

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 36 healthcare equipment and supplies stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 2% while next quarter’s revenue guidance was 1.7% below.

In light of this news, share prices of the companies have held steady as they are up 3% on average since the latest earnings results.

QuidelOrtho (NASDAQ: QDEL)

Born from the 2022 merger of Quidel and Ortho Clinical Diagnostics, QuidelOrtho (NASDAQ: QDEL) develops and manufactures diagnostic testing solutions for healthcare providers, from rapid point-of-care tests to complex laboratory instruments and systems.

QuidelOrtho reported revenues of $630.9 million, up 2.8% year on year. This print exceeded analysts’ expectations by 2.1%. Despite the top-line beat, it was still a slower quarter for the company with full-year revenue and EPS guidance estimates.

"Our second quarter performance demonstrated QuidelOrtho's underlying strength and the benefits of our diversified portfolio, with solid results across our core franchises and regions, with the exception of China. Demand headwinds in China related to the proposed IVD pricing guidelines and a softer global respiratory environment are continuing to impact our business," said Brian J. Blaser, President and Chief Executive Officer of QuidelOrtho.

QuidelOrtho delivered the weakest full-year guidance update among its peers. The market seems disappointed with the results as the stock is down 12.3% since reporting and currently trades at $14.31.

Read our full report on QuidelOrtho 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.

The market seems happy with the results as the stock is up 7.6% since reporting. It currently trades at $26.65.

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 performance against analyst estimates and weakest guidance update of the whole group. As expected, the stock is down 22.4% since the results and currently trades at $82.08.

Read our full analysis of LeMaitre’s results here.

Insulet (NASDAQ: PODD)

Revolutionizing diabetes care with its tubeless "Pod" technology, Insulet (NASDAQ: PODD) develops and manufactures innovative insulin delivery systems for people with diabetes, primarily through its Omnipod product line.

Insulet reported revenues of $801.7 million, up 23.5% year on year. This result surpassed analysts’ expectations by 1.9%. More broadly, it was a satisfactory quarter as it also recorded a beat of analysts’ EPS estimates but revenue guidance for next quarter missing analysts’ expectations.

The stock is down 12.9% since reporting and currently trades at $145.23.

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

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 beat analysts’ expectations by 0.5%. It was a satisfactory quarter as it also produced a beat of analysts’ EPS estimates.

The stock is up 15.2% since reporting and currently trades at $73.85.

Read our full, actionable report on GE HealthCare 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 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.