In short: Named in the same medical-device exclusion. Terranova: medical devices "are trading awful. They don't have the revenue growth. It's Stryker, it's your Baxter, it's Intuitive Surgical." His instruction to viewers rotating into healthcare is the rule rather than the names: "I want you to be there because of what the characteristics are, what it could offer in a portfolio, but make sure you have the growth."
Baxter makes hospital products — infusion pumps, IV fluids, dialysis equipment. It is named alongside Stryker and Intuitive Surgical as part of the medical-device group Terranova will not own.
The reasoning is the same single screen: in a market that is paying for growth, a healthcare company has to show it in the revenue line, and this group does not. His advice to anyone rotating into healthcare is worth separating from the names — be in the sector, but check the growth before you buy.
In short: "The Baxters of the world, the Intuitive Surgical" — named at the same medtech family-office dinner as the AI margin beneficiaries, in a healthcare sector that has fallen from 16% to 8% of the S&P as money moved into technology.
Baxter makes hospital and medical-device equipment. He names it in the same breath as Intuitive Surgical — "the Baxters of the world" — as one of the medical-technology companies the specialist family offices at his ideas dinner expect to gain the most from AI, in a healthcare sector trading at half its historical share of the index.
19:21the world, the Intuitive Surgical. These companies are going to benefit from AI in a huge way. Massive increase in profit margins. Intuitive Surgical's data that they have — artificial intelligence makes that data so much more valuable. They've got a real big moat. And so, yes. So, I agree with you.
In short: Named alongside Intuitive ("the Baxters") as the unloved healthcare names the AI-medical family offices love for their data.
Baxter makes hospital and medical products. It gets a briefer mention — "the Baxters" — as part of the same idea: unloved healthcare companies sitting on valuable medical data that AI can monetize, which the specialist family offices say they love while everyone else crowds into chips.
39:09Look at Intuitive Surgical and then when you talk to people in the family office space that are in artificial intelligence medical sector right so billionaire family office they've got — they're on the front row seat the intelligence that they have relative to most investors in that sector is off the charts and they made the point to me that they love the surgicals of the world the Baxters because guess what just think of Intuitive they have the best data, the best data.
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