Yahoo Finance Medical Products Stock Earnings on Apr 30: BAX, IDXX & More
The Medical sector (one of the 16 broad Zacks sectors within the Zacks Industry classification) seems to have shown more resilience compared to others in the first quarter. This can be attributed to continued strong business generation from emergency medical procedures that were unavoidable even amid the pandemic. Also, this sector’s new COVID-19-related healthcare offerings have shown huge adoption, thus contributing to first-quarter results.
Going by the latest Earnings Preview, this sector’s scorecard so far reflects 3% earnings growth on 5.3% upside in revenues from the year-ago period. Overall, earnings are expected to be up 3.1% on 8.1% revenue growth. Medical is expected to be one of the five among the 16 major Zacks sectors set to report year-over-year earnings growth.
However, the earnings projections represent a substantial sequential decline from the fourth-quarter 2019 scorecard, which reflected earnings growth of 7.9%. This is because, most of the medical companies are suffering due to the worldwide manufacturing and supply chain disruption.
Integral to the broader Medical sector, Medical Products companies’ growth is expected to have been dampened due to the pandemic. However, most of them might have partially mitigated these downsides, riding on huge market adoption of their COVID-19-related healthcare-support products and services and non-elective procedures.
Let us take a look at six Medical Product stocks that are scheduled to announce results on Apr 30.
Baxter International Inc.’s BAX first-quarter 2020 results are likely to reflect new product launches, including PrisMax in the United States, and rising global demand for the company’s continuous renal replacement therapies. Further, the first-quarter performance is anticipated to have benefited from Baxter’s strong product portfolio, and the launch of therapies and products. In fact, sales growth for first-quarter 2020 is projected in the range of 4-5% on a reported basis, and 5-6% on both constant currency (cc) and operational basis. (Read more: Baxter to Report Q1 Earnings: What’s in the Offing?)
Our proven model does not conclusively predict an earnings beat for Baxter this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
It has a Zacks Rank #3 and an Earnings ESP of -2.44%. You can see the complete list of today’s Zacks #1 Rank stocks here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Baxter International Inc. Price and EPS Surprise
Baxter International Inc. price-eps-surprise | Baxter International Inc. Quote
IDEXX Laboratories, Inc. IDXX might have witnessed strong earnings momentum in the first quarter of 2020, courtesy of a global surge in Companion Animal Group (CAG) Diagnostic revenues. Although the ongoing coronavirus-induced economic crisis has affected the global animal health market, it is unlikely to have severely impacted the company’s first-quarter revenues.
In the United States, IDEXX has been generating strong CAG Diagnostic recurring revenues, led by steady growth in reference lab, consumables and rapid assay sales. (Read more: What’s in Store for IDEXX Laboratories in Q1 Earnings?)
IDEXX has an Earnings ESP of -0.41% and a Zacks Rank #3.
IDEXX Laboratories, Inc. Price and EPS Surprise
IDEXX Laboratories, Inc. price-eps-surprise | IDEXX Laboratories, Inc. Quote
ResMed Inc. RMD has been ramping up its ventilator and other respiratory support devices business worldwide to meet the demand for ventilation therapy required for the treatment of COVID-19 patients since the beginning of third-quarter fiscal 2020. This is likely to get reflected in the company’s performance in the to-be-reported quarter. This also might have aided the company in countering the negative impacts of the coronavirus-led economic doldrums. (Read more: ResMed Q3 Earnings to Gain From Growing Ventilator Sales).
ResMed has an Earnings ESP of -13.22% and a Zacks Rank #2.
ResMed Inc. Price and EPS Surprise
ResMed Inc. price-eps-surprise | ResMed Inc. Quote
Teleflex Incorporated TFX first-quarter 2020 revenues are likely to reflect balance growth across the majority of segments and geographies. Further, continued momentum in UroLift may have contributed to the first-quarter performance.
Teleflex has an Earnings ESP of -5.05% and a Zacks Rank #4 (Sell).
Teleflex Incorporated Price and EPS Surprise
Teleflex Incorporated price-eps-surprise | Teleflex Incorporated Quote
ABIOMED, Inc. ABMD flagship product line, Impella, has been consistently boosting the company’s top line. Impella — a support system of percutaneous, catheter-based devices offering hemodynamic support to the heart — is expected to have driven fiscal fourth-quarter 2020 performance. The company is likely to have witnessed growth in U.S Impella product revenues in the first two months of the fiscal fourth quarter. Higher patient usage of the Impella heart pumps is likely to have contributed to the improvement.
However, interventional cardiology procedures are likely to have taken a hit (since late February) owing to the coronavirus outbreak. This, in turn, might have weighed on the company’s Impella product line in the to-be-reported quarter. (Read more: ABIOMED to Report Q4 Earnings: What’s in the Cards?)
ABIOMED has an Earnings ESP of -8.65% and a Zacks Rank #4.
ABIOMED, Inc. Price and EPS Surprise
ABIOMED, Inc. price-eps-surprise | ABIOMED, Inc. Quote
Perrigo Company plc PRGO manufactures and supplies over-the-counter health and wellness solutions in the United States, Europe, and internationally. The company operates through Consumer Self-Care Americas, Consumer Self-Care International, and Prescription Pharmaceuticals segments. The company is likely to have witnessed top line growth in first-quarter 2020 driven by strong performance across its segments.
Perrigo has an Earnings ESP of +1.46% and a Zacks Rank of 3.
Perrigo Company plc Price and EPS Surprise
Perrigo Company plc price-eps-surprise | Perrigo Company plc Quote
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Baxter International Inc. (BAX) : Free Stock Analysis Report
ABIOMED, Inc. (ABMD) : Free Stock Analysis Report
ResMed Inc. (RMD) : Free Stock Analysis Report
Teleflex Incorporated (TFX) : Free Stock Analysis Report
Perrigo Company plc (PRGO) : Free Stock Analysis Report
IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
