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Medical Product Stock Q1 Earnings on May 10: MRVI, TGTX & More

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The latest Earnings Preview clearly depicts encouraging quarterly performance for the Medical sector so far this reporting cycle. Going by the sector’s scorecard, 75.9% of the companies in the Medical sector, constituting nearly 86.6% of the sector’s market capitalization, reported earnings till May 4. A total of 78% beat earnings estimates and 68.3% beat on revenues. Earnings increased 22% year over year on 10.3% higher revenues.

This scorecard reflects a comparatively stable market condition within the United States, thanks to elaborate vaccine rollouts even when the COVID-affected international market is still suffering from lower cash flows and difficult economic condition.

Overall, first-quarter earnings for the Medical sector are expected to rise 23.6% on 10.6% sales increase.

The Medical Products companies’ (within the broader Medical sector) collective business growth has improved from the last reported quarter with month-wise strong rebound in base sales volumes. This can be attributed to gradual lifting of restrictions and people getting back to pre-pandemic normalcy. Besides, testing, vaccine and therapeutic makers have been riding on huge market adoption of their COVID-related healthcare support products and services.

More specifically, the first-quarter results of the majority of medical product stocks have shown accelerated base business growth, after being in the doldrums in the earlier pandemic-affected quarters.

On the flip side, although vaccine and therapeutic makers are still riding on huge market adoption of their COVID-related healthcare support products and services, diagnostic testing stocks have registered slowdown in demand for COVID-19 testing (in line with industry trends).

The Zacks Medical Product sector currently carries a Zacks Sector Rank in the bottom 23% (196 of 254 industries).

Let’s take a look at five MedTech players scheduled to announce results on May 10.

Maravai LifeSciences Holdings, Inc. (MRVI - Free Report) : The company provides reagents and services focused on high-growth markets in cell and gene therapies, vaccines, and biologic drug manufacturing.As a supplier of solutions to other life sciences companies, the company has been in a position to benefit from multiple tailwinds that have been influencing the sector, ranging  from early discovery through clinical trials to the commercialization of healthcare products. This should get reflected in its Q1 results.

The Zacks Consensus Estimate for the first quarter is pegged at earnings per share of 19 cents.  Revenues are expected to be $148 million.

Maravai does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — which increases the odds of an earnings beat.

The company has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell).

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

TG Therapeutics, Inc. (TGTX - Free Report) : The accelerated approval of the company’s first medicine, umbralisib (now called UKONIQ) for the treatment of relapsed or refractory marginal zone and follicular lymphoma is likely to have strongly contributed to the company’s Q1 top line. With UKONIQ approval, TG Therapeutics has transformed into a fully integrated commercial organization.

The Zacks Consensus Estimate for the first quarter of 2021 is pegged at a loss per share of 52 cents.  Revenues are expected to be $0.99 million.

The company has an Earnings ESP of 0.00% and a Zacks Rank #3.

TG Therapeutics, Inc. Price and EPS Surprise

TG Therapeutics, Inc. Price and EPS Surprise

TG Therapeutics, Inc. price-eps-surprise | TG Therapeutics, Inc. Quote

ShockWave Medical, Inc. (SWAV - Free Report) : This medical device company engages in developing and commercializing intravascular lithotripsy technology to treat calcified plaque in patients with peripheral vascular, coronary vascular and heart valve diseases worldwide. The company’s recent international launch of IVL and U.S. launch of peripheral products should have contributed to the Q1 top line.

The Zacks Consensus Estimate for the first quarter is pegged at a loss per share of 42 cents.  Revenues are expected to be $31.5 million.

The company has an Earnings ESP of -1.21% and a Zacks Rank #3.

ShockWave Medical, Inc. Price and EPS Surprise

ShockWave Medical, Inc. Price and EPS Surprise

ShockWave Medical, Inc. price-eps-surprise | ShockWave Medical, Inc. Quote

SmileDirectClub, Inc. (SDC - Free Report) : The company is expected to have achieved continued growth in Q1 consistent with its long-term targets, while executing long-term margin goals. Favorable industry dynamics, broader acceptance of telehealth and specifically teledentistry and minimal penetration against total addressable market are a few of the projected tailwinds for the quarter’s growth.

The Zacks Consensus Estimate for the first quarter is pegged at loss per share of 29 cents.  Revenues are expected to be $850.6 million.

The company has an Earnings ESP of 0.00% and a Zacks Rank #3.

SmileDirectClub, Inc. Price and EPS Surprise

SmileDirectClub, Inc. Price and EPS Surprise

SmileDirectClub, Inc. price-eps-surprise | SmileDirectClub, Inc. Quote

NanoString Technologies, Inc. (NSTG - Free Report) : The company is a leading provider of life science tools for discovery and translational research. The company’s nCounter Analysis System is used in life sciences research and has been cited in more than 4,000 peer-reviewed publications.

The Zacks Consensus Estimate for the first quarter is pegged at a loss per share of 58 cents.  Revenues are expected to be $30 million.

The company has an Earnings ESP of 0.00% and a Zacks Rank #4.

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