Medical Products' Aug 5 Earnings Roster: BDX, RMD & More
The Medical Products companies’, which are an integral part of the broader Medical sector, quarterly results are likely to have seen improved business growth in the quarter to be reported compared to the COVID-19 affected dismal performance in the year-ago quarter.
There has been a fall in the number of COVID-19 cases across the United States and other developed markets throughout the second quarter owing to the ramped-up vaccination process. This, in turn, has led to substantial rebound in base sales volumes. Easing of restrictions has aided non-COVID and elective legacy businesses of such companies to recover.
Apart from this, the second-quarter results of the industry participants are likely to reflect substantial market adoption of COVID-19-related healthcare-support products and services. In fact, Abbott’s ABT underlying legacy diagnostics business continued to improve in the second quarter, driven by enhanced routine diagnostic testing levels and the continued rollout of Alinity platforms.
Meanwhile, even though vaccine and therapeutic makers have been gaining from the significant market adoption of their COVID-19-related healthcare-support products and services, the demand for COVID-19 testing has slowed down (owing to mass vaccination).
The Medical sector has delivered encouraging quarterly performance so far this reporting cycle. According to the latest Earnings Preview, this sector’s second-quarter earnings are expected to improve 23.2% on 18.4% revenue growth.
Let’s take a look at five Medical Product stocks that are scheduled to announce results on Aug 5.
Becton, Dickinson and Company BDX: Becton, Dickinson and Company, popularly known as BD, is likely to have exhibited substantial strength in its Life Sciences segment in third-quarter fiscal 2021 results. Over the past few months, BD has been receiving a slew of regulatory approvals for its products. For instance, in May, the company announced that the industry's first self-collection claim for human papillomavirus (“HPV”) screening has been CE marked. This is likely to have contributed to the Life Sciences segment, thereby driving revenues. (Read more: BD Gears up for Q3 Earnings: What’s in the Offing?)
Our proven model does not predict an earnings beat for BD 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The company has a Zacks Rank #3 and an Earnings ESP of -0.69%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Becton, Dickinson and Company Price and EPS Surprise
Becton, Dickinson and Company price-eps-surprise | Becton, Dickinson and Company Quote
ResMed Inc. RMD: Recovery of core patient flow, and increasing adoption of digital health solutions and other tools to aid remote care amid the pandemic is likely to have contributed to ResMed’s fiscal fourth-quarter 2021 performance. Solid organic growth rates in the U.S. pharmaceutical market, population demographics and improving patient access to medical care might get reflected in the to-be-reported quarter’s results. The company recorded strong sales across its mask product portfolio in the United States, Canada and Latin America in the fiscal third quarter and the momentum is likely to have continued in the to-be-reported quarter as well.
ResMed has a Zacks Rank #2 and an Earnings ESP of -0.60%.
ResMed Inc. Price and EPS Surprise
ResMed Inc. price-eps-surprise | ResMed Inc. Quote
Cardinal Health, Inc. CAH: Cardinal Health’s Pharmaceutical segment is the second largest pharmaceutical distributor in the United States. Elective procedures and physician office visits are expected to recover to pre-COVID 19 levels exiting fiscal 2021, with a more substantial impact in the first half of the year. This might get reflected in the segment’s results in the fiscal fourth-quarter 2021 results. Cardinal Health’s Medical unit may have contributed significantly to the overall fiscal fourth-quarter performance. Revenues at this segment are likely to reflect increase in sales from personal protective equipment (PPE) and increase in volumes in its lab business. (Read more: Cardinal Health to Post Q4 Earnings: What's in Store?)
Cardinal Health has a Zacks Rank #3 and an Earnings ESP of -0.28%.
Cardinal Health, Inc. Price and EPS Surprise
Cardinal Health, Inc. price-eps-surprise | Cardinal Health, Inc. Quote
Abiomed Inc. ABMD: Strong momentum of the Impella product line, which was seen in the fiscal fourth-quarter 2021, is expected to have continued through first-quarter fiscal 2022 as well, on the back of continued robust customer adoption. Abiomed’s revenues in the quarter to be reported are expected to reflect benefits from sustained momentum of its Impella 5.5 with SmartAssist over the past few months. (Read more: Abiomed to Report Q1 Earnings: What’s in the Cards?)
Abiomed has a Zacks Rank #3 and an Earnings ESP of 0.00%.
ABIOMED, Inc. Price and EPS Surprise
ABIOMED, Inc. price-eps-surprise | ABIOMED, Inc. Quote
DENTSPLY SIRONA Inc. XRAY: DENTSPLY SIRONA’s Consumables segment is likely to have witnessed improvement in revenues in the second quarter of 2021. Rebound in sales of all product categories might have aided the upside. Apart from this, sustained improvement in sales trends owing to reopening of dental offices and rise in patient visits might have favored the company’s performance in the to-be-reported quarter. (Read more: DENTSPLY SIRONA to Post Q2 Earnings: What’s in Store?)
DENTSPLY SIRONA has a Zacks Rank #2 and an Earnings ESP of +6.77%.
DENTSPLY SIRONA Inc. Price and EPS Surprise
DENTSPLY SIRONA Inc. price-eps-surprise | DENTSPLY SIRONA Inc. Quote
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