Looking back on healthcare technology stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including Tandem Diabetes (NASDAQ: TNDM) and its peers.

Healthcare Technology

The 8 healthcare technology stocks we track reported a mixed Q2. As a group, revenues beat analysts’ consensus estimates by 2.4% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 7.1% on average since the latest earnings results.

Tandem Diabetes (NASDAQ: TNDM)

With technology that automatically adjusts insulin delivery based on continuous glucose monitoring data, Tandem Diabetes Care (NASDAQ: TNDM) develops and manufactures automated insulin delivery systems that help people with diabetes manage their blood glucose levels.

Tandem Diabetes reported revenues of $240.7 million, up 8.5% year on year. This print exceeded analysts’ expectations by 1.5%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ EPS estimates and full-year revenue guidance meeting analysts’ expectations.

Interestingly, the stock is up 2.2% since reporting and currently trades at $14.77.

Read our full report on Tandem Diabetes here, it’s free for active Edge members.

Best Q2: Omnicell (NASDAQ: OMCL)

Driven by the vision of an "Autonomous Pharmacy" with zero medication errors, Omnicell (NASDAQ: OMCL) provides medication management automation and adherence tools that help healthcare systems and pharmacies reduce errors and improve efficiency.

Omnicell reported revenues of $290.6 million, up 5% year on year, outperforming analysts’ expectations by 4.9%. The business had a very strong quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.

The market seems content with the results as the stock is up 4.6% since reporting. It currently trades at $31.10.

Is now the time to buy Omnicell? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q2: GoodRx (NASDAQ: GDRX)

Started in 2011 to tackle the problem of high prescription drug costs in America, GoodRx (NASDAQ: GDRX) operates a digital platform that helps consumers find lower prices on prescription medications through price comparison tools and discount codes.

GoodRx reported revenues of $203.1 million, up 1.2% year on year, falling short of analysts’ expectations by 1.3%. It was a disappointing quarter as it posted EPS in line with analysts’ estimates and a significant miss of analysts’ customer base estimates.

As expected, the stock is down 9.8% since the results and currently trades at $3.92.

Read our full analysis of GoodRx’s results here.

Privia Health (NASDAQ: PRVA)

Operating in 13 states and the District of Columbia with over 4,300 providers serving more than 4.8 million patients, Privia Health (NASDAQ: PRVA) is a technology-driven company that helps physicians optimize their practices, improve patient experiences, and transition to value-based care models.

Privia Health reported revenues of $521.2 million, up 23.4% year on year. This print surpassed analysts’ expectations by 10.9%. It was a strong quarter as it also recorded a solid beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

Privia Health delivered the biggest analyst estimates beat but had the weakest full-year guidance update among its peers. The stock is up 33.3% since reporting and currently trades at $26.39.

Read our full, actionable report on Privia Health here, it’s free for active Edge members.

Premier (NASDAQ: PINC)

Operating one of the largest healthcare group purchasing organizations in the United States with over 4,350 hospital members, Premier (NASDAQ: PINC) is a technology-driven healthcare improvement company that helps hospitals, health systems, and other providers reduce costs and improve clinical outcomes.

Premier reported revenues of $262.9 million, down 12.5% year on year. This number beat analysts’ expectations by 5%. Overall, it was a strong quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

The stock is up 15% since reporting and currently trades at $28.12.

Read our full, actionable report on Premier here, it’s free for active Edge members.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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.

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