Subtext

TFX

SectorHealth Care
Transcripts25
Date range2019-05-03 – 2025-05-01
Calls charted25

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-14-7+0+7+142019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12019 Q1 · Overall: +7.12019 Q2 · Overall: +9.72019 Q3 · Overall: +7.82019 Q4 · Overall: +5.12020 Q1 · Overall: -2.72020 Q2 · Overall: +3.52020 Q3 · Overall: +5.42020 Q4 · Overall: +3.52021 Q1 · Overall: +6.32021 Q2 · Overall: +7.12021 Q3 · Overall: +7.62021 Q4 · Overall: +5.02022 Q1 · Overall: +4.52022 Q2 · Overall: -4.42022 Q3 · Overall: +2.62022 Q4 · Overall: +6.42023 Q1 · Overall: +12.32023 Q2 · Overall: +11.82023 Q3 · Overall: +4.62023 Q4 · Overall: +5.22024 Q1 · Overall: +0.42024 Q2 · Overall: +5.42024 Q3 · Overall: +2.92024 Q4 · Overall: +9.52025 Q1 · Overall: +5.1
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-23-11+0+11+232019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12019 Q1 · CEO: +13.02019 Q2 · CEO: +10.42019 Q3 · CEO: +11.02019 Q4 · CEO: +9.22020 Q1 · CEO: -2.62020 Q2 · CEO: +6.72020 Q3 · CEO: +8.22020 Q4 · CEO: +5.82021 Q1 · CEO: +10.62021 Q2 · CEO: +9.42021 Q3 · CEO: +10.22021 Q4 · CEO: +8.12022 Q1 · CEO: +11.92022 Q2 · CEO: -4.42022 Q3 · CEO: +4.62022 Q4 · CEO: +10.22023 Q1 · CEO: +18.02023 Q2 · CEO: +15.82023 Q3 · CEO: +7.22023 Q4 · CEO: +10.22024 Q2 · CEO: +5.82024 Q3 · CEO: +7.02024 Q4 · CEO: +15.22025 Q1 · CEO: +9.82019 Q1 · CFO: +2.42019 Q2 · CFO: +19.62019 Q3 · CFO: +13.32019 Q4 · CFO: +5.92020 Q1 · CFO: +16.52020 Q2 · CFO: +0.62020 Q3 · CFO: +10.62020 Q4 · CFO: +0.02021 Q1 · CFO: +6.32021 Q2 · CFO: +11.62021 Q3 · CFO: +12.62021 Q4 · CFO: +3.92022 Q1 · CFO: -8.42022 Q2 · CFO: +3.92022 Q3 · CFO: +3.92022 Q4 · CFO: +8.02023 Q1 · CFO: +9.62023 Q2 · CFO: +12.22023 Q3 · CFO: +5.12023 Q4 · CFO: +3.62024 Q2 · CFO: +11.42024 Q3 · CFO: -3.12024 Q4 · CFO: +14.32025 Q1 · CFO: +0.0
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-20-10+0+10+202019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12019 Q1 · Prepared remarks: +9.52019 Q2 · Prepared remarks: +15.32019 Q3 · Prepared remarks: +15.22019 Q4 · Prepared remarks: +12.02020 Q1 · Prepared remarks: +3.02020 Q2 · Prepared remarks: +2.42020 Q3 · Prepared remarks: +6.72020 Q4 · Prepared remarks: +5.92021 Q1 · Prepared remarks: +5.12021 Q2 · Prepared remarks: +11.02021 Q3 · Prepared remarks: +10.92021 Q4 · Prepared remarks: +3.22022 Q1 · Prepared remarks: -0.32022 Q2 · Prepared remarks: -0.92022 Q3 · Prepared remarks: +0.02022 Q4 · Prepared remarks: +6.92023 Q1 · Prepared remarks: +15.32023 Q2 · Prepared remarks: +14.02023 Q3 · Prepared remarks: +4.52023 Q4 · Prepared remarks: +8.12024 Q1 · Prepared remarks: +15.12024 Q2 · Prepared remarks: +1.72024 Q3 · Prepared remarks: +5.02024 Q4 · Prepared remarks: +17.02025 Q1 · Prepared remarks: +7.32019 Q1 · Q&A responses: +10.72019 Q2 · Q&A responses: +8.62019 Q3 · Q&A responses: +8.52019 Q4 · Q&A responses: +5.62020 Q1 · Q&A responses: -3.42020 Q2 · Q&A responses: +8.12020 Q3 · Q&A responses: +9.32020 Q4 · Q&A responses: +5.02021 Q1 · Q&A responses: +10.92021 Q2 · Q&A responses: +7.62021 Q3 · Q&A responses: +8.82021 Q4 · Q&A responses: +10.32022 Q1 · Q&A responses: +17.42022 Q2 · Q&A responses: -4.52022 Q3 · Q&A responses: +7.52022 Q4 · Q&A responses: +11.12023 Q1 · Q&A responses: +16.02023 Q2 · Q&A responses: +13.92023 Q3 · Q&A responses: +7.32023 Q4 · Q&A responses: +8.62024 Q1 · Q&A responses: +3.72024 Q2 · Q&A responses: +11.72024 Q3 · Q&A responses: +4.12024 Q4 · Q&A responses: +7.22025 Q1 · Q&A responses: +6.4
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$11.16$13.25$15.352019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12019 Q1: $11.452019 Q2: $11.902019 Q3: $12.342019 Q4: $12.692020 Q1: $13.212020 Q2: $11.842020 Q3: $12.662020 Q4: $12.642021 Q1: $13.182021 Q2: $13.842021 Q3: $14.122021 Q4: $14.232022 Q1: $14.372022 Q2: $14.642022 Q3: $13.942022 Q4: $13.562023 Q1: $13.632023 Q2: $13.972023 Q3: $14.072023 Q4: $13.912024 Q1: $14.112024 Q2: $14.472024 Q3: $15.06

Forward P/E

12.5622.7933.012019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12019 Q1: 25.982019 Q2: 28.042019 Q3: 27.632019 Q4: 29.222020 Q1: 18.542020 Q2: 31.072020 Q3: 28.262020 Q4: 31.432021 Q1: 31.602021 Q2: 28.622021 Q3: 27.522021 Q4: 22.422022 Q1: 23.732022 Q2: 17.572022 Q3: 17.122022 Q4: 18.682023 Q1: 16.542023 Q2: 17.502023 Q3: 15.162023 Q4: 17.442024 Q1: 15.752024 Q2: 13.972024 Q3: 16.04

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2019 Q4 tone ↓ -2.7 fwd EPS ↑ +0.35 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -7.8 fwd EPS ↑ +0.53 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +6.3 fwd EPS ↓ -1.38 Tone rose while the forward EPS estimate was cut.
  • 2022 Q2 tone ↓ -8.9 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↑ +7.0 fwd EPS ↓ -0.70 Tone rose while the forward EPS estimate was cut.
  • 2022 Q4 tone ↑ +3.8 fwd EPS ↓ -0.38 Tone rose while the forward EPS estimate was cut.
  • 2024 Q1 tone ↓ -4.8 fwd EPS ↑ +0.20 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q3 tone ↓ -2.5 fwd EPS ↑ +0.59 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+5.1——View →
2024 Q42025-02-27+9.5——View →
2024 Q32024-10-31+2.9$15.0616.0View →
2024 Q22024-08-01+5.4$14.4714.0View →
2024 Q12024-05-02+0.4$14.1115.8View →
2023 Q42024-02-22+5.2$13.9117.4View →
2023 Q32023-11-05+4.6$14.0715.2View →
2023 Q22023-08-03+11.8$13.9717.5View →