Can CR Bard (BCR) Spring A Surprise This Earnings Season?
Zacks Investment Research | Oct 17, 2017 08:27AM ET
CR Bard Inc. (NYSE:BCR) is scheduled to report third-quarter 2017 earnings, after market closes on Oct 24. Last quarter, the company reported adjusted earnings of $2.92, exceeding the Zacks Consensus Estimate by 8 cents. Also, the company’s earnings surpassed the Zacks Consensus Estimate in all the last four quarters with an average beat of 4.03%.
Delving into the fundamentals of the stock, let’s see how things are shaping up prior to this release.
Factors at Play
We believe that the growing adoption of the company’s flagship Lutonix drug coated-balloon (DCB) will continue to be the key growth catalyst in the to-be-reported quarter. In this regard, Lutonix DCB is used to treat patients suffering from peripheral arterial disease (PAD). Within the Endovascular business, peripheral PTA line sales are solely driven by accelerating demand for the Lutonix DCB in the United States. We expect this product to significantly contribute to the company’s top line in this quarter. The Zacks Consensus Estimate for the third-quarter revenues is currently pegged at $989.8 million, up 5.1%.
However, the management expects revenues growth of 5% to 6% on a reported basis. Excluding the impact of foreign exchange, the company projects revenues to increase between 6% and 7% from the prior year.
Furthermore, the company's investments in emerging markets have strengthened its position internationally. We are also upbeat on the solid contribution from the company’s vascular product line. The urology and oncology segments are likely to drive third-quarter sales.
On a positive note, the company portrays an impressive price performance. In the past three months, shares of CR Bard have returned 1.0% compared with the C.R. Bard, Inc. Quote
Stocks to Consider
Here are a few companies you may want to consider as our proven model shows that they have the right combination of elements to post an earnings beat this quarter:
Abbott (NYSE:ABT) has an Earnings ESP of +0.17% and carries a Zacks Rank #2. You can see Zacks Investment Research
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