Coronavirus-Affected MedTech Drags S&P 500 Index Down
Zacks Investment Research | Mar 09, 2020 09:52PM ET
The pandemonium surrounding coronavirus has reached a grave level, with China reporting 19 new confirmed cases and 17 more deaths as of Mar 9, 2020, per the country’s National Health Commission’s data published in a report by the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here .
Over the past couple of weeks, the company’s shares have underperformed the S&P 500 Index. The stock has declined 8.5% compared with the index’s fall of 7.9% in the said period.
Next comes Ecolab Inc. (NYSE:ECL) , a leading provider of water, hygiene and energy technologies and services. The company has already anticipated an unfavorable impact of 5 cents per share with respect to adjusted earnings projection for first-quarter 2020.
Over the past two weeks, its shares have underperformed the S&P 500 Index. The stock has declined 9.2% compared with the index’s fall of 7.9%. The company carries a Zacks Rank of 3 (Hold).
Now comes Becton, Dickinson and Company (NYSE:BDX) , which mentioned on first-quarter fiscal 2020 earnings call that it expects to witness a headwind of $20-$30 million in fiscal 2020. From a supply chain perspective, the Zacks Rank #4 (Sell) company currently has sufficient inventory of the products that it exports from China to meet current demand levels. However, considering the rapid spread of the virus, we remain skeptical about the time till which it can operate with the current inventory.
Over the past two weeks, the company’s shares have been on par with the S&P 500 Index.
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