Medical device company Artivion (NYSE: AORT) will be reporting results tomorrow after the bell. Here’s what you need to know.
Artivion beat analysts’ revenue expectations by 0.5% last quarter, reporting revenues of $95.78 million, up 9% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ sales volume estimates.
Is Artivion a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Artivion’s revenue to grow 8% year on year to $101.2 million, slowing from the 18% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.04 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Artivion has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3% on average.
Looking at Artivion’s peers in the healthcare equipment and supplies segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Penumbra delivered year-on-year revenue growth of 12.9%, beating analysts’ expectations by 3.1%, and Intuitive Surgical reported revenues up 25.2%, topping estimates by 6.5%. Penumbra traded up 12.1% following the results while Intuitive Surgical was down 4%.
Read our full analysis of Penumbra’s results here and Intuitive Surgical’s results here.
Inflation has progressed towards the Fed’s 2% goal as of late, leading to strong stock market performance. Recent rate cuts and the 2024 Presidential election's conclusion added further sparks to the market, and while some of the healthcare equipment and supplies stocks have shown solid performance, the group has generally underpeformed, with share prices down 5.7% on average over the last month. Artivion is down 7.8% during the same time and is heading into earnings with an average analyst price target of $33.17 (compared to the current share price of $28.26).
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