3 Biotech Stocks Poised to Beat Q2 Earnings Estimates

As we near the end of the ongoing earnings season, we see that the scorecard for the Medical sector has been pretty decent. The sector primarily comprises pharma/biotech and medical device companies.

Per the Earnings Trends report, as of Aug 9, 91.4% of the companies in the Medical sector, constituting nearly 96% of the sector’s market capitalization, reported earnings. While 86.8% beat estimates on earnings, 77.4% beat the same for sales. Earnings declined 30.7% year over year but revenues increased 5%. Overall, second-quarter earnings for the Medical sector are expected to decline 30% despite a 5.4% sales increase.