4 MedTech Stocks To Keep In Good Books This Earnings Season
Zacks Investment Research | Apr 18, 2018 04:35AM ET
Only a handful of S&P 500 players have released their numbers so far this earnings season. We expect the first quarter to see strong revenues as reflected by the solid upward trend in estimate revisions.
Meanwhile, three back-to-back events in the quarter have rattled the global economy. The first was the U.S.-China trade war chaos, then came the tech backlash stemming from Facebook’s (FB) data fiasco, and finally, the chemical attack in Syria paving ways for fresh troubles between America and Russia.
Furthermore, apprehensions related to further rate hikes by the Fed continue to do the rounds.
Is Medical Device a Safe Haven?
It is said that the stock market runs on sentiments and any unforeseen event in a particular sector has a ripple effect on others. Going against this notion, the Medical-Device sector within the broader Medical universe has proven to be a refuge for investors. Shrugging off the ongoing tensions, the sector has returned 2% year to date, significantly higher than the S&P 500’s return of 1.1%.
This is because, Medical-Device companies have been riding high on R&D innovation, increasing consolidation, focus on emerging market and tax abolition.
In fact, our latest TFX ): Headquartered in Wayne, PA, Teleflex develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide.
The company’s strong focus on High Flow Nasal Cannula Therapy (HFNCT) is likely to lend it a competitive edge in the niche space.
Solid growth in the preloaded anti-microbial and anti-thrombogenic VPS PICCs platform is likely to strengthen the vascular platform. In the surgical segment, new products like EFx and Ae05 fortify the company’s foothold. Finally, the company’s flagship LMA unique product strengthens its Anasthesia product line.
The company is expected to report first-quarter 2018 results on May 3.
We expect an earnings beat for this stock which has a Zacks Rank #3 and an Earnings ESP of +0.71%.
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