Medical device company Artivion (NYSE: AORT) will be announcing earnings results this Thursday after the bell. Here’s what to expect.
Artivion beat analysts’ revenue expectations last quarter, reporting revenues of $125.8 million, up 11.3% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and full-year EBITDA guidance slightly topping analysts’ expectations.
Is Artivion a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Artivion’s revenue to grow 6.8% year on year, slowing from the 18.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Artivion has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Artivion’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Merit Medical Systems delivered year-on-year revenue growth of 8.4%, beating analysts’ expectations by 1.5%, and Intuitive Surgical reported revenues up 21.7%, topping estimates by 5.3%. Merit Medical Systems traded down 7.7% following the results while Intuitive Surgical was also down 2.3%.
Read our full analysis of Merit Medical Systems’s results here and Intuitive Surgical’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 2.8% on average over the last month. Artivion is up 4.9% during the same time and is heading into earnings with an average analyst price target of $40.91 (compared to the current share price of $23.72).
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