We expect Zomedica ZOM investors to focus on the outlook for the company’s first commercial product, scheduled to be launched on Mar 30, 2021, when it reports fourth-quarter 2020 results.
Shares of the company have soared 1962% in the past year against the industry’s rise of 7.8%.
Zomedica’s earnings performance has been mixed over the trailing four quarters. The company missed expectations in the three of the last four quarters while meeting the same once. The trailing four-quarter average negative earnings surprise is 50.00%.
In the last reported quarter, Zomedica reported a loss of 1 cent per share while the Zacks Consensus Estimate was pegged at breakeven.
Let’s see how things have shaped up prior to this announcement.
Factors to Note
On the fourth-quarter earnings call, investors are likely to focus on launch plans of this veterinary diagnostic company to launch Truforma as a point-of-care diagnosticsfor the detection of adrenal and thyroid disorders in cats and dogs.
Last month, the company signed a distribution agreement with the oldest wholesale veterinary distributor in the United States, Miller Veterinary Supply, to support the launch of Truforma. The company is also focused on developing its internal sales team to support commercialization of Truforma as well.
The company is also developing another point-of-care diagnostic platformdesigned to detect pathogens in companion animals. The company may provide an update on progress with this platform on its fourth-quarter earnings call.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Zomedica this earnings season. 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. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Zomedica’s Earnings ESP is 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate stand at breakeven.
Zacks Rank: Zomedica currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some stocks from the medical sector that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases.
Personalis (NASDAQ:PSNL), Inc. PSNL has an Earnings ESP of +8.48% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Bausch Health Cos Inc. BHC has an Earnings ESP of +7.49% and a Zacks Rank #3.
Atreca (NASDAQ:BCEL), Inc. BCEL has an Earnings ESP of +16.04% and a Zacks Rank #3.
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Zomedica Corp. (ZOM): Free Stock Analysis Report
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