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Medical Product Earnings to Watch on Oct 26: BSX, LH & More
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The Q3 earnings season is in full swing, with 116 S&P 500 members, as per the latest Earnings Preview report, having released their quarterly numbers as of Oct 21. Reported earnings are up 3.3% year over year on a 1.8% increase in revenues. The beat ratio is 80.2% for earnings and 62.9% for revenues.
So far, the earnings reports have demonstrated an optimistic trend. If this continues till the end, this quarter will be successful in showing positive earnings growth for the first time after five back-to-back quarters of earnings decline for the S&P 500 Index.
With the majority of earnings yet to be released, the ongoing week has a long lineup of earnings announcements and will show whether this can be a trend-changing quarter. Irrespective of the outcome, there is some definite good news for investors keen on the Medical sector.
Per the report, Medical is one of the 9 broader sectors among the 16 Zacks sectors which are expected to report earnings growth in Q3. The sector is expected to deliver 3.7% earnings growth on the back of 7.4% higher revenues in the third quarter.
Let’s take a look at the major Medical product stocks slated to release their quarterly reports on Oct 26:
Last quarter, the company posted in-line earnings. It is worth noting that Boston Scientific’s preceding four-quarter trailing average beat is pegged at 6.26%. (Read more: What's in Store for Boston Scientific's Q3 Earnings?)
Laboratory Corp. of America Holdings (LH - Free Report) is slated to report its third-quarter 2016 financial numbers on Oct 26. Last quarter, the company reported a positive earnings surprise of 0.87%, with the trailing four-quarter average beat being 0.86%.
Laboratory Corp. currently has a Zacks Rank #3 and an Earnings ESP of +0.44%. Hence, we are hopeful that the company will beat earnings this quarter as it has the right combination of a Zacks Rank #3 or better and a positive Earnings ESP that according to our model increases the chance of an earnings beat. (Read More: Can LabCorp Pull a Surprise this Earnings Season?)
Varian Medical Systems, Inc. is set to report results for the fourth quarter of fiscal 2016, after the closing bell on Oct 26. Last quarter, the company reported earnings of $1.22 per share, which beat the Zacks Consensus Estimate by a nickel. Notably, the figure improved 6.1% on a year-over-year basis.
We note that on average, Varian Medical posted a positive earnings surprise of 2.21% over the last four quarters. The company currently has a Zacks Rank #3 and an Earnings ESP of -0.74%. (Read More: Varian Medical Q4 Earnings: What's in the Cards?)
Headquartered in South Jordan, UT, Merit Medical Systems Inc. (MMSI - Free Report) is set to report third-quarter 2016 results on Oct 26. The company currently has a Zacks Rank #3 and an Earnings ESP of 0.00%. Although a Zacks Rank #3 increases the predictive power of ESP, 0.00% ESP makes surprise prediction difficult. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Last quarter, the company posted earnings of 26 cents per share, which surpassed the Zacks Consensus Estimate by 2 cents. Notably, on average, Merit Medical beat the Zacks Consensus Estimate by almost 4.36% over the last four quarters. (Read More: What's in Store for Merit Medical in Q3 Earnings?)
Cardiovascular Systems Inc. is scheduled to release its quarterly numbers on Oct 26. Last quarter, the company delivered a positive earnings surprise of 25.00%. Also, the company has a consistent track of beating earnings estimates with an average earnings surprise of 15.73% in the last four quarters. The company currently has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stay tuned! Check later on our full write-up on earnings releases of these stocks.
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Medical Product Earnings to Watch on Oct 26: BSX, LH & More
The Q3 earnings season is in full swing, with 116 S&P 500 members, as per the latest Earnings Preview report, having released their quarterly numbers as of Oct 21. Reported earnings are up 3.3% year over year on a 1.8% increase in revenues. The beat ratio is 80.2% for earnings and 62.9% for revenues.
So far, the earnings reports have demonstrated an optimistic trend. If this continues till the end, this quarter will be successful in showing positive earnings growth for the first time after five back-to-back quarters of earnings decline for the S&P 500 Index.
With the majority of earnings yet to be released, the ongoing week has a long lineup of earnings announcements and will show whether this can be a trend-changing quarter. Irrespective of the outcome, there is some definite good news for investors keen on the Medical sector.
Per the report, Medical is one of the 9 broader sectors among the 16 Zacks sectors which are expected to report earnings growth in Q3. The sector is expected to deliver 3.7% earnings growth on the back of 7.4% higher revenues in the third quarter.
Let’s take a look at the major Medical product stocks slated to release their quarterly reports on Oct 26:
Boston Scientific Corporation (BSX - Free Report) is scheduled to report third-quarter earnings results on Oct 26. The company an Earnings ESP of 0.00% which makes surprise prediction difficult despite its Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Last quarter, the company posted in-line earnings. It is worth noting that Boston Scientific’s preceding four-quarter trailing average beat is pegged at 6.26%. (Read more: What's in Store for Boston Scientific's Q3 Earnings?)
BOSTON SCIENTIF Price and EPS Surprise
BOSTON SCIENTIF Price and EPS Surprise | BOSTON SCIENTIF Quote
Laboratory Corp. of America Holdings (LH - Free Report) is slated to report its third-quarter 2016 financial numbers on Oct 26. Last quarter, the company reported a positive earnings surprise of 0.87%, with the trailing four-quarter average beat being 0.86%.
Laboratory Corp. currently has a Zacks Rank #3 and an Earnings ESP of +0.44%. Hence, we are hopeful that the company will beat earnings this quarter as it has the right combination of a Zacks Rank #3 or better and a positive Earnings ESP that according to our model increases the chance of an earnings beat. (Read More: Can LabCorp Pull a Surprise this Earnings Season?)
LABORATORY CP Price and EPS Surprise
LABORATORY CP Price and EPS Surprise | LABORATORY CP Quote
Varian Medical Systems, Inc. is set to report results for the fourth quarter of fiscal 2016, after the closing bell on Oct 26. Last quarter, the company reported earnings of $1.22 per share, which beat the Zacks Consensus Estimate by a nickel. Notably, the figure improved 6.1% on a year-over-year basis.
We note that on average, Varian Medical posted a positive earnings surprise of 2.21% over the last four quarters. The company currently has a Zacks Rank #3 and an Earnings ESP of -0.74%. (Read More: Varian Medical Q4 Earnings: What's in the Cards?)
VARIAN MEDICAL Price and EPS Surprise
VARIAN MEDICAL Price and EPS Surprise | VARIAN MEDICAL Quote
Headquartered in South Jordan, UT, Merit Medical Systems Inc. (MMSI - Free Report) is set to report third-quarter 2016 results on Oct 26. The company currently has a Zacks Rank #3 and an Earnings ESP of 0.00%. Although a Zacks Rank #3 increases the predictive power of ESP, 0.00% ESP makes surprise prediction difficult. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Last quarter, the company posted earnings of 26 cents per share, which surpassed the Zacks Consensus Estimate by 2 cents. Notably, on average, Merit Medical beat the Zacks Consensus Estimate by almost 4.36% over the last four quarters. (Read More: What's in Store for Merit Medical in Q3 Earnings?)
MERIT MEDICAL Price and EPS Surprise
MERIT MEDICAL Price and EPS Surprise | MERIT MEDICAL Quote
Cardiovascular Systems Inc. is scheduled to release its quarterly numbers on Oct 26. Last quarter, the company delivered a positive earnings surprise of 25.00%. Also, the company has a consistent track of beating earnings estimates with an average earnings surprise of 15.73% in the last four quarters. The company currently has an Earnings ESP of 0.00% and a Zacks Rank #3.
CARDIOVASCLR SY Price and EPS Surprise
CARDIOVASCLR SY Price and EPS Surprise | CARDIOVASCLR SY Quote
Stay tuned! Check later on our full write-up on earnings releases of these stocks.
Confidential from Zacks
This week, Zacks researchers have named 7 other stocks that look to break out even sooner than today's Bull of the Day. You can see these time-sensitive tickers free, and access additional trades that are not available to the public. Simply click here>>