J.P. 摩根-美股-医疗科技行业-医疗科技与渠道：2019年四季度对COVID-19的思考-2020.3-73页.pdf

North America Equity Research March 2020 Healthcare Technology & Distribution Positioning Across Healthcare Technology & Distribution – Thoughts Post 4Q Results to COVID-19 Conference Call Details Friday, March 13 @ 1:00pm ET Dial-in Info: Please contact us or your J.P. Morgan sales contact for details Replay through 3/20 Healthcare Technology & Distribution Lisa C. Gill AC Michael R. Minchak, CFA AC Anne E. Samuel AC (212) 622-6466 (212) 622-6506 (212) 622-4163 lisa.c.gill@ michael.minchak@ anne.e.samuel@ Bloomberg JPMA GILL<GO> Bloomberg JPMA MINCHAK <GO> Bloomberg JPMA SAMUEL <GO> J.P. Morgan Securities LLC J.P. Morgan Securities LLC J.P. Morgan Securities LLC See the end pages of this presentation for analyst certification and important disclosures, including non-US analyst disclosures. J.P. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. YTD 2020 Stock Price Performance The S&P 500 is down -23.2% YTD in 2020 and the S&P 500 Health Care Sector Index is down -17.1% YTD. Our covered companies are down -20.5%, on average, YTD in 2020.  Pharma Distributors are down -10.6% YTD in 2020, on average, with ABC outperforming MCK and CAH (ABC is do