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5 Drug Stocks' Earnings on Jul 27: AMGN, VRTX & More
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With Q2 earnings picking up pace, approximately 126 S&P 500 members (representing 32.7% of the index’s total market capitalization) have reported quarterly results as of Jul 22. An impressive 70.6% of these companies managed to record an earnings beat, while 55.6% recorded better-than-expected sales.
As Q2 earnings take center stage, the Medical sector’s performance will remain in focus as it is one of the seven sectors that are projected to record positive earnings growth this quarter. As per our Earnings Trends article, Medical sector earnings are expected to grow 1.7% year-over-year on revenue growth of 7.7%.
Last week, a number of major drug companies including Johnson & Johnson (JNJ - Free Report) , Biogen Inc. (BIIB - Free Report) and Abbott Laboratories came up with better-than-expected numbers for the quarter.
Let’s take a sneak peek at five companies in the medical sector that are scheduled to report results on Jul 27.
Biotech major Amgen Inc. (AMGN - Free Report) will be reporting second-quarter earnings results after the market closes. The company has an impressive track record having surpassed expectations in each of the last four quarters with an average surprise of +12.08%. The combination of Amgen’s Zacks Rank #3 (Hold) and +1.10% Earnings ESP makes us reasonably confident of an earnings beat this season. Products like Enbrel, Xgeva, Vectibix, Sensipar, Prolia and Nplate should continue driving top line growth. Focus will also be on the performance of the company’s PCSK9 inhibitor, Repatha. (Read more: Amgen May Beat Q2 Earnings: Will the Stock Gain?)
Boston, MA-based Vertex Pharmaceuticals Incorporated (VRTX - Free Report) is known for its strong presence in the cystic fibrosis (CF) market with drugs like Kalydeco and Orkambi in its portfolio. The company, however, has a mixed track record. It delivered positive surprises in two of the last four quarters and missing expectations twice, with an average earnings surprise of -77.02%. Vertex will also be reporting second-quarter 2016 results after the market closes. The company currently carries a Zacks Rank #3, which when combined with its current Earnings ESP of -250.00%, makes surprise prediction difficult. (Read more: Vertex to Report Q2 Earnings: Is a Surprise in Store?)
Parsippany, NJ-based The Medicines Company will also be reporting results on Jul 27. The biopharmaceutical company focuses on advancing the treatment of critical care patients through the delivery of innovative, cost-effective medicines to the worldwide hospital marketplace. The Medicines Company’s track record has been mixed with the company delivering positive surprises in two of the last four quarters and missing expectations in the remaining two quarters. The average earnings surprise over the last four quarters is -63.84%. The combination of its Zacks Rank #3 and 0.00% ESP makes surprise prediction difficult for this quarter.
Orthopedic medicines company Anika Therapeutics Inc. (ANIK - Free Report) is scheduled to report second-quarter 2016 results after the market closes. Focused on improving the lives of patients with degenerative orthopedic diseases and traumatic conditions, the company provides innovative and differentiated therapeutic pain management solutions. Anika’s track record is pretty impressive, having beaten estimates in all of the last four quarters. The company’s average earnings surprise over the last four quarters is +42.73%. However, the combination of Anika’s Zacks Rank #3 and a 0.00% ESP makes surprise prediction difficult.
UK-based GlaxoSmithKline plc’s (GSK - Free Report) track record is decent with the company surpassing expectations in three of the last four quarters with an average earnings surprise of +6.28%. However, the company currently carries a Zacks Rank #3, which when combined with its 0.00% Earnings ESP, makes surprise prediction difficult. Performance of Glaxo’s Pharmaceuticals segment should be driven by new products such as Anoro Ellipta, Nucala and Tanzeum/Eperzan while the Vaccines segment will benefit from continued uptake of the meningitis vaccines. However, the segment is expected to face volatility due to the timing of government tenders. (Read more: Glaxo Q2 Earnings: Can the Stock Pull a Surprise?)
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5 Drug Stocks' Earnings on Jul 27: AMGN, VRTX & More
With Q2 earnings picking up pace, approximately 126 S&P 500 members (representing 32.7% of the index’s total market capitalization) have reported quarterly results as of Jul 22. An impressive 70.6% of these companies managed to record an earnings beat, while 55.6% recorded better-than-expected sales.
As Q2 earnings take center stage, the Medical sector’s performance will remain in focus as it is one of the seven sectors that are projected to record positive earnings growth this quarter. As per our Earnings Trends article, Medical sector earnings are expected to grow 1.7% year-over-year on revenue growth of 7.7%.
Last week, a number of major drug companies including Johnson & Johnson (JNJ - Free Report) , Biogen Inc. (BIIB - Free Report) and Abbott Laboratories came up with better-than-expected numbers for the quarter.
Let’s take a sneak peek at five companies in the medical sector that are scheduled to report results on Jul 27.
Biotech major Amgen Inc. (AMGN - Free Report) will be reporting second-quarter earnings results after the market closes. The company has an impressive track record having surpassed expectations in each of the last four quarters with an average surprise of +12.08%. The combination of Amgen’s Zacks Rank #3 (Hold) and +1.10% Earnings ESP makes us reasonably confident of an earnings beat this season. Products like Enbrel, Xgeva, Vectibix, Sensipar, Prolia and Nplate should continue driving top line growth. Focus will also be on the performance of the company’s PCSK9 inhibitor, Repatha. (Read more: Amgen May Beat Q2 Earnings: Will the Stock Gain?)
AMGEN INC Price and EPS Surprise
AMGEN INC Price and EPS Surprise | AMGEN INC Quote
Boston, MA-based Vertex Pharmaceuticals Incorporated (VRTX - Free Report) is known for its strong presence in the cystic fibrosis (CF) market with drugs like Kalydeco and Orkambi in its portfolio. The company, however, has a mixed track record. It delivered positive surprises in two of the last four quarters and missing expectations twice, with an average earnings surprise of -77.02%. Vertex will also be reporting second-quarter 2016 results after the market closes. The company currently carries a Zacks Rank #3, which when combined with its current Earnings ESP of -250.00%, makes surprise prediction difficult. (Read more: Vertex to Report Q2 Earnings: Is a Surprise in Store?)
VERTEX PHARM Price, Consensus and EPS Surprise
VERTEX PHARM Price, Consensus and EPS Surprise | VERTEX PHARM Quote
Parsippany, NJ-based The Medicines Company will also be reporting results on Jul 27. The biopharmaceutical company focuses on advancing the treatment of critical care patients through the delivery of innovative, cost-effective medicines to the worldwide hospital marketplace. The Medicines Company’s track record has been mixed with the company delivering positive surprises in two of the last four quarters and missing expectations in the remaining two quarters. The average earnings surprise over the last four quarters is -63.84%. The combination of its Zacks Rank #3 and 0.00% ESP makes surprise prediction difficult for this quarter.
MEDICINES CO Price and EPS Surprise
MEDICINES CO Price and EPS Surprise | MEDICINES CO Quote
Orthopedic medicines company Anika Therapeutics Inc. (ANIK - Free Report) is scheduled to report second-quarter 2016 results after the market closes. Focused on improving the lives of patients with degenerative orthopedic diseases and traumatic conditions, the company provides innovative and differentiated therapeutic pain management solutions. Anika’s track record is pretty impressive, having beaten estimates in all of the last four quarters. The company’s average earnings surprise over the last four quarters is +42.73%. However, the combination of Anika’s Zacks Rank #3 and a 0.00% ESP makes surprise prediction difficult.
ANIKA THERAPEUT Price, Consensus and EPS Surprise
ANIKA THERAPEUT Price, Consensus and EPS Surprise | ANIKA THERAPEUT Quote
UK-based GlaxoSmithKline plc’s (GSK - Free Report) track record is decent with the company surpassing expectations in three of the last four quarters with an average earnings surprise of +6.28%. However, the company currently carries a Zacks Rank #3, which when combined with its 0.00% Earnings ESP, makes surprise prediction difficult. Performance of Glaxo’s Pharmaceuticals segment should be driven by new products such as Anoro Ellipta, Nucala and Tanzeum/Eperzan while the Vaccines segment will benefit from continued uptake of the meningitis vaccines. However, the segment is expected to face volatility due to the timing of government tenders. (Read more: Glaxo Q2 Earnings: Can the Stock Pull a Surprise?)
GLAXOSMITHKLINE Price and EPS Surprise
GLAXOSMITHKLINE Price and EPS Surprise | GLAXOSMITHKLINE Quote
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