Published on 24 Apr 2024 on Zacks via Yahoo Finance
Watch These 3 MedTech Stocks This Earnings Season: Beat or Miss?
The earnings season is in full swing now with several MedTech bigwigs already releasing first-quarter results. Per the latest Earnings Preview, quarterly results of the Medical sector have declined year over year, affected by the ongoing macroeconomic headwinds, primarily in the form of worldwide geopolitical issues and healthcare labor shortages.
Going by the broader Medical sector’s scorecard, 5% of the companies in the Medical sector, constituting 19.4% of the sector’s market capitalization, reported earnings till Apr 17. Earnings declined 0.3% year over year on 3.7% higher revenues. However, 100% of these companies beat earnings and 66.7% beat revenue estimates, which were already down because of the ongoing macroeconomic issues.