What to know about the health care industry's Q2 earnings

• Meanwhile, Community Health Systems is eking out profits in large part due to bailout money.

🦿 Medical devices: People returning to hospitals means more sales for the companies that make hip implants, heart valves and other medical devices. Revenue and profits surged in a big way for Stryker and Boston Scientific.

🤕 Insurers: The increased use of all health care, and rising COVID cases, has led insurers to pay out more medical claims, which Humana said yesterday is leading to "uncertainty" and very conservative profit estimates for the back half of the year. Similar vibes from Centene and Molina.

💊 Pharma: Doctors are prescribing large volumes of cancer, heart and anti-inflammatory drugs, which led to sizable sales for Bristol-Myers Squibb and Novartis.

🖥 Tech: The pandemic created an opening for telehealth to explode, but a slowdown really may be here. Teledoc's membership and virtual visits missed Wall Street's estimates, crushing the company's stock.

📈 Deals: Inovalon, a data analytics company used by almost every major health care company, nearly quintupled its profit in the second quarter. A private equity firm is now circling Inovalon, Bloomberg reports.