MedTech Gains Momentum, Lilly Expands Partnerships

DexCom ($DXCM) attracted investor attention following recent share price momentum, with the continuous glucose monitoring company closing at $89.75. The stock posted gains of 17.09% over the past 30 days and 34.06% over the past 90 days, contrasting with more modest longer-term performance. Stryker Corporation also drew analyst attention with reports highlighting the medical device manufacturer's 11% organic revenue growth and expanding margins, though analysts recommended waiting for a price correction before entry.

Eli Lilly ($LLY) secured a licensing agreement with OmniAb valued at up to $370 million in milestone payments, prompting shares of the antibody discovery platform provider to rally in premarket trading. The deal contributed to $LLY raising its 2026 cash outlook. Separately, Eli Lilly Canada stated it continues to take action addressing the promotion and sale of unapproved and illegal retatrutide products in Canada, disagreeing with characterizations in a Canada Revenue Agency application and planning to respond formally through the court process. AbbVie ($ABBV) received a price target increase from Wells Fargo analyst Mohit Bansal, who raised his target from $295 to $300 while maintaining an Overweight rating on the stock.

Institutional activity picked up across healthcare names, with whale alerts identifying large options transactions in Pfizer ($PFE) and other healthcare stocks. Representative Richard Dean Dr McCormick of Georgia disclosed a sale of Abbott Laboratories ($ABT) stock valued between $25,025 and $375,000, with the transaction dated July 30, 2026, according to records from August 14, 2026. Johnson & Johnson ($JNJ) received recognition for passing dividend quality screens with a high dividend rating, robust profitability, and solid financial health, positioning it as a reliable income investment.