4 Medical Device Stocks To Top Q3 Earnings
Zacks Investment Research | Nov 01, 2017 03:57AM ET
We are in the thick of the earnings season with more than 64.2% of the index’s total market capitalization having already released their quarterly numbers. Meanwhile, in the MedTech space, uncertainty related to the Trump administration’s Obamacare repeal & replacement effort continues to make headlines. The latest uproar is related to the President’s newly-released executive order, designed to provide affordable quality healthcare to the nation.
Let us now have a quick look at how the medical device space has fared so far in the reporting cycle.
Q3 Performance
Various reports suggest that hurricanes at the end of the third quarter are likely to mar revenues and earnings of several MedTech companies, primarily in Florida, Texas and Puerto Rico. MedTech major Ecolab (Earnings ESP Filter .
Our Choices
Below are four Medical Device players that have the right combination of elements to post an earnings beat this quarter:
Henry Schein (NASDAQ:HSIC), Inc. (the complete list of today’s Zacks #1 Rank stocks here .
T2 Biosystems, Inc. (ICUI ): The company develops, manufactures and sells advanced medical devices used in vascular therapy and critical care applications. Its product portfolio includes IV smart pumps, sets, connectors, closed transfer devices for hazardous drugs, cardiac monitoring systems, along with pain management and safety software technology. ICU Medical is set to report third-quarter 2017 results on Nov 2.
The company has surpassed the Zacks Consensus Estimate in each of the preceding four quarters, with an average earnings beat of 74.6%. Currently, the company has an Earnings ESP of +6.21% and carries a Zacks Rank #3.
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