Truist bets on a 'beat & raise' Q1 for some med-tech players

Lantheus Holdings

15/04/2024 15:54

** Brokerage Truist Securities expects Q1 results beat and
forecast raises for medical device makers Boston Scientific Corp
 BSX.N  and Intuitive Surgical  ISRG.O , among others 
    ** Medical device makers have been benefitting in recent
quarters due to a resurgence in demand for joint replacements
and other surgeries that were delayed during the COVID-19
pandemic 
    ** Truist believes medical-technology sector will see rising
earnings this quarter 
    ** Says BSX is more likely to see an estimates upside for
this quarter and throughout 2024 from emerging new product
cycles 
    ** Also sees Q1 'beat & raises' for other small and mid-cap
co's, including Inspire Medical Systems  INSP.N , Lantheus
Holdings  LNTH.O  and PROCEPT BioRobotics  PRCT.O  
    ** "If companies can beat Q1 estimates, it would go a long
way towards de-risking forecasts in second-half of 2024" -
brokerage
    ** Maintaining a "hold" rating on Stryker Corp  SYK.N ,
brokerage says SYK has been one of the better YTD large-cap
performers and expects co will beat top line Q1 estimates

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))