Medical device company Artivion (NYSE: AORT) will be reporting earnings tomorrow after the bell. Here’s what you need to know.
Artivion missed analysts’ revenue expectations by 3.8% last quarter, reporting revenues of $97.31 million, up 3.9% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and a slight miss 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 decline 2.5% year on year to $94.98 million, a reversal from the 17.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.05 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 2.6% on average.
Looking at Artivion’s peers in the healthcare equipment and supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Penumbra delivered year-on-year revenue growth of 16.3%, beating analysts’ expectations by 2.7%, and Merit Medical Systems reported revenues up 9.8%, topping estimates by 0.8%. Penumbra traded up 7.2% following the results while Merit Medical Systems’s stock price was unchanged.
Read our full analysis of Penumbra’s results here and Merit Medical Systems’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 4.9% on average over the last month. Artivion is up 1% during the same time and is heading into earnings with an average analyst price target of $32.33 (compared to the current share price of $23.33).
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