Heath care momentum not just driven by GLP-1s, says Mizuho's Holz

Watch on YouTube ↗  |  January 09, 2026 at 19:57  |  4:02  |  CNBC
Speakers
Jared Holz — Healthcare Equity Strategist, Mizuho

Summary

Jared Holz of Mizuho discusses healthcare sector momentum ahead of the JPMorgan healthcare conference. He says healthcare is outperforming the market and investor interest is improving. He expects a strong 2026 M&A environment, with large-cap pharma acquiring smaller biotech companies, and says biotech momentum is broadening beyond GLP-1 obesity drugs across areas such as oncology, rare diseases, cardiovascular, and inflammation. AI in healthcare was also discussed, but he was uncertain about its near-term importance.

  • Healthcare sector momentum has improved versus the market.
  • Jared Holz expects continued investor interest in healthcare.
  • Healthcare M&A activity has been fast and furious.
  • Large-cap pharma may keep acquiring smaller biotech companies.
  • The JPMorgan healthcare conference is viewed as a deal catalyst.
  • Biotech gains are broadening beyond GLP-1 obesity drugs.
  • Oncology, rare diseases, cardiovascular, and inflammation are cited as topical areas.
  • AI's role in healthcare was discussed with limited certainty.
Ideas
Jared Holz Healthcare Equity Strategist, Mizuho 0:26
Healthcare sector momentum is improving
Healthcare sector sentiment and momentum are improving. The sector had a strong fourth quarter relative to the market and has started the year up about 2% versus the market's roughly 1.5% gain, with continued investor interest and enthusiasm likely to support the group.
XLV HIGH
Jared Holz Healthcare Equity Strategist, Mizuho 0:45
Small-cap biotech M&A remains strong
The healthcare M&A environment has been fast and furious, and the 2026 landscape should resemble last year: dozens of large-cap pharma companies need to bolster their businesses and revenue, and the easiest way is to keep acquiring smaller-cap biotech companies. Timing is hard to predict, but the JPMorgan healthcare conference often serves as the genesis of deals seen later in the year.
Small-cap biotech HIGH
Jared Holz Healthcare Equity Strategist, Mizuho 1:35
Biotech momentum broadens beyond GLP-1
Biotech momentum is broad and is not just a GLP-1 obesity-drug story. The space is diverse and gains can come from many therapeutic categories, with oncology, rare diseases, cardiovascular, and inflammation among the most topical areas; the trend should continue.
XBI Oncology Rare diseases Cardiovascular Inflammation HIGH
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This CNBC video, published January 09, 2026, features Jared Holz discussing XLV, Small-cap biotech, XBI, Oncology, Rare diseases, Cardiovascular, Inflammation. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jared Holz  · Tickers: XLV, Small-cap biotech, XBI, Oncology, Rare diseases, Cardiovascular, Inflammation