Published on 1 May 2024 on Zacks via Yahoo Finance
Can the 4 Medical Device Stocks Hit Targets This Earnings Season?
The earnings season for the Medical sector (one of the 16 broad Zacks sectors within the Zacks Industry classification) is in full swing now with several MedTech players already releasing their quarterly results. The quarterly performances have been encouraging so far despite companies still navigating ongoing macroeconomic headwinds, primarily in the form of worldwide geopolitical issues and healthcare labor shortages.
The latest Earnings Preview indicates that 16.7% of the companies in the Medical sector, constituting nearly 32.6% of the sector’s market capitalization, reported earnings until Apr 24. Of these, 70% beat earnings and revenue estimates. Earnings improved 0.7% year over year on the back of 3.6% higher revenues.