
Healthcare Technology
DOCS Doximity Inc
GDRX GoodRx Holdings Inc
HQY HealthEquity Inc
LFMD LifeMD Inc
TALK Talkspace Inc
VEEV Veeva Systems Inc
Dental Suppliers & Distributors
ALGN Align Technology Inc
NVST Envista Holdings Corp
HSIC Henry Schein Inc
SOLV Solventum Corp
XRAY DENTSPLY SIRONA Inc
Drug Distributor
CAH Cardinal Health Inc
COR Cencora Inc
MCK McKesson Corp
Differentiated Product
Steven is well-known for his in-depth research on the Pharmaceutical Supply channel, which stems from his ~7-8 years of prior experience covering the LargeCap and Specialty Pharmaceutical sectors. He has published in-depth research reports on both the generic (ANDA) and biosimilar pipelines, as well as in relation to drug pricing trends and policy. Steven has also tracked the dental sector for~15 years, and has consistently published in-depth and predictive survey work on industry trends, including his accurate cautious view on the dental industry for 2025 on the back of his initial Mizuho proprietary dental survey in December 2024. Finally, Steven has also covered the Healthcare Technology Sector for the majority of his career, and has consistently relied on channel checks in various HCIT customer segments within Healthcare to accurately predict software spending trends (including hospital surveys, as well as various biopharma customer spending patterns).
Key Reports
• Traditional Generic ANDA Pipeline is Alive and Well Through 2029
• Introducing Mizuho U.S. Biosimilar Pipeline Thru 2029
• HealthEquity (HQY): Introducing Mizuho HSA Market Model; Interest Rate Update
• Align Technology (ALGN): Quick Puts and Takes on Reciprocal Tariff Exposure
• Envista (NVST): Initiating Coverage with Underperform Rating & $20 Price Target
Notable Events
We hosted the 2nd Annual Mizuho Medical Device and Healthcare Services Summit, featuring Henry Schein, LifeMD, and TalkSpace. We co-hosted expert calls related to HCIT demand/spending trends among hospitals and physicians.
Analyst Bio
Steven joined Mizuho in June 2024 as a senior analyst based in New York, covering the Healthcare Technology & Distribution sector. Prior to Mizuho, Steven served as a managing director at Barclays where he also covered Healthcare Technology & Distribution, as well as additional health care sub-sectors. He has over 30 years of experience in Healthcare research, and has been ranked in the top five in the “Healthcare Technology & Distribution” sector in the Extel All-America Research Team survey more than five times. Steven holds a Bachelor of Business Administration (BBA) in Finance and Accounting from the University of Michigan, and a Master’s Degree in Commercial Real Estate Finance from Georgetown University.