The quarterly performance of the companies belonging to the MedTech industry has witnessed improvement on a year-over-year basis so far. Accelerated base business growth during the first quarter was reflected in the results of the majority of the stocks, courtesy of the waning of COVID-19 impact despite the emergence of new virus variants.

However, the first-quarter performance of the majority of the companies witnessed a decline on a sequential basis. A number of MedTech players encountered severe staffing shortages and supply-chain hazards in the Q1 months, thanks to the emergence of the new COVID variants.

Integral to the broader Medical sector, MedTech or Zacks-defined Medical Products companies have adapted well to changing consumer preferences and are experiencing a sustained uptrend in their stock prices.

In the second half of the first-quarter reporting cycle, MedTech players saw a strong rebound in base sales volumes with the companies reaching their pre-pandemic legacy business level on the back of a substantial reduction in COVID-led fatality throughout the United States and other developed markets. Gradual lifting of restrictions and people getting back to pre-pandemic normalcy has led to a noticeable rebound in non-COVID and elective legacy businesses of the companies.

Companies belonging to the MedTech sector have delivered an encouraging quarterly performance so far this reporting cycle. According to the latest Earnings Preview, this sector’s first-quarter earnings are expected to improve 10.3% on 13.3% revenue growth.

Let’s take a look at four MedTech stocks that are scheduled to announce results on Apr 28.

Abiomed, Inc. : Abiomed is likely to have registered a solid uptick in its U.S. revenues in the fourth quarter of fiscal 2022 on the back of strong growth in patient utilization and a favorable sales mix. Strength across the company’s broad base portfolio was recorded, with robust growth in Impella CP, Impella RP and Impella 5.5 in the fiscal third quarter. This momentum is expected to have continued in the fiscal fourth quarter as well, given the gradual recovery of hospital-based procedures and patient utilization, thereby driving revenues.

During the fiscal third-quarter 2022 earnings call, Abiomed confirmed that clinical feedback for its Breethe OXY-1 System has been favorable. This positive feedback is likely to have continued in the fiscal fourth quarter, leading to robust product adoption and sales. (Read more: Abiomed to Report Q4 Earnings: What’s in the Cards?)

Per our proven model, 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. This is not the case for Abiomed. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

The company has a Zacks Rank #2 and an Earnings ESP of 0.00%.

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

Stryker Corporation (SYK Quick QuoteSYK - Free Report) : With respect to Stryker’s Orthopaedics & Spine segment, growth across Trauma and Extremities, as well as Knees subsegments, is likely to have favored the segment's first-quarter 2022 performance. Stryker is committed to the sustained expansion of Mako. This growth reflects the demand for its differentiated Mako robotic technology. The company witnessed both domestic and international growth (in Japan, Korea and emerging markets) in the fourth quarter of 2021. Hence, robust demand for Mako is likely to have contributed to Orthopaedics & Spine segment's performance in the to-be-reported quarter. (Read more: Stryker to Report Q1 Earnings: What’s in the Cards?)

Stryker has a Zacks Rank #3 and an Earnings ESP of -1.44%.

Baxter International Inc. (BAX Quick QuoteBAX - Free Report) : Increased demand for acute therapies products due to the COVID-19 resurgence and continuous renal replacement therapies (CRRT), devices and associated consumables are likely to have driven Baxter’s Acute Therapies business’ first-quarter 2022 performance. The company’s robust product portfolio and the planned launch of therapies and products might get reflected in the to-be-reported quarter’s revenues. (Read more: Baxter to Post Q1 Earnings: What's in the Offing?)

Baxter has a Zacks Rank #3 and an Earnings ESP of -3.62%.

DexCom, Inc. (DXCM Quick QuoteDXCM - Free Report) : DexCom’s first-quarter 2022 top line is likely to reflect an increase in volume, courtesy of new patients across all channels and rising global awareness regarding the benefits of its real-time Continuous Glucose Monitoring (“CGM”).

In March 2022, the company’s received the FDA’s Breakthrough Device Designation for the Dexcom CGM system’s use in the hospital setting. Per the third quarter of 2021 earnings release, the company completed the buyouts of its distributors in Australia and New Zealand, thereby advancing its strategy to transfer certain international markets from distributors to direct sales. These developments may have favored the company’s performance in the to-be-reported quarter. (Read more: DexCom to Report Q1 Earnings: What’s in the Cards?)

DexCom has a Zacks Rank #3 and an Earnings ESP of +9.06%.

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