In this article, we will take a look at the 10 stocks in focus after posting their earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks in Focus After Posting Their Earnings Reports.
Recently, stocks from the consumer cyclical and healthcare sectors, including Lowe’s Companies, Inc. (NYSE:LOW), The TJX Companies, Inc. (NYSE:TJX), Teladoc Health, Inc. (NYSE:TDOC) and Agilent Technologies, Inc. (NYSE:A), came out with the financial results for their respective quarters.
If we look at their price actions, shares of Teladoc Health, Agilent Technologies and TJX Companies turned red after releasing their earnings reports. On the other hand, Lowe’s shares marginally moved up after beating expectations.
However, if we look at the broader market, all major U.S. indices were down amid heightening tensions between Russia and Ukraine. Just before the opening bell on Thursday, February 24, S&P 500 was down 2.33 percent, Dow Jones Industrial Average was minus 2.27 percent and Nasdaq Composite Index was negative 2.90 percent.
Stocks in Focus After Posting Their Earnings Reports
10. Penumbra, Inc. (NYSE:PEN)
Number of Hedge Fund Holders: 23
Shares of Penumbra, Inc. (NYSE:PEN) slipped nearly six percent on Wednesday, February 23, 2022, following its disappointing earnings for the fourth quarter. The Alameda, Calif.-based medical device company reported adjusted earnings of 1 cent per share, missing the consensus of 22 cents per share with a big margin.
On the bright side, Penumbra, Inc. (NYSE:PEN) posted revenue of $204 million, up 23 percent versus last year and ahead of analysts’ average estimate of $194.30 million. If we break down the total sales by segments, vascular products revenue jumped 31.1 percent to $113.6 million, while neuro products revenue rose 14.1 percent to $90.4 million in the quarter.
Penumbra, Inc. (NYSE:PEN) also released its sales outlook for 2022. The company guided for revenue in the range of $860 – $875 million for the current fiscal year, representing a growth of 15 – 18 percent over last year.
9. Monday.com Ltd. (NASDAQ:MNDY)
Number of Hedge Fund Holders: 25
Shares of Monday.com Ltd. (NASDAQ:MNDY) recently plunged to an all-time low despite posting a narrower-than-expected loss for the fourth quarter. The Israel-based software company reported an adjusted loss of 26 cents per share, compared to a loss of 64 cents per share in the year-ago period.
Revenue for the quarter climbed 91 percent on a year-over-year basis to $95.5 million. Analysts were expecting Monday.com Ltd. (NASDAQ:MNDY) to report a loss of 52 cents per share on revenue of $87.8 million.
Looking forward, Monday.com Ltd. (NASDAQ:MNDY) expects revenue in the range of $100 – $102 million for the first quarter and between $470 – $475 million for the full year. This compares to the consensus of $94.1 million for Q1 and $443.1 million for 2022.
Like Monday.com Ltd. (NASDAQ:MNDY), investors are also keeping an eye on Lowe’s Companies, Inc. (NYSE:LOW), The TJX Companies, Inc. (NYSE:TJX) and Teladoc Health, Inc. (NYSE:TDOC) following their earnings reports.
8. Molson Coors Beverage Company (NYSE:TAP)
Number of Hedge Fund Holders: 33
Shares of Molson Coors Beverage Company (NYSE:TAP) rose to a one-month high on Wednesday, February 23, 2022, after releasing its fourth-quarter results. The Illinois-based drink and brewing company reported adjusted earnings of 81 cents per share, representing a surge of more than two-folds from the year-ago period.
In addition, Molson Coors Beverage Company (NYSE:TAP) posted revenue of $2.62 billion, up 14.2 percent on a year-over-year basis. Analysts were looking for earnings of 85 cents per share on revenue of $2.55 billion.
Molson Coors Beverage Company (NYSE:TAP) also reported its region-wise sales numbers. Revenue from the Americas segment rose 7.6 percent in the quarter, while revenue from the EMEA&APAC segment climbed 56.4 percent.
Commenting on the results, CFO Tracey Joubert said in a statement:
“For the year, we achieved our top-line guidance of mid single-digit growth, delivered strong free cash flow, further reduced our leverage ratio, and returned cash to shareholders all despite the global macro inflationary challenges.”
7. Vertiv Holdings Co (NYSE:VRT)
Number of Hedge Fund Holders: 33
Shares of Vertiv Holdings Co (NYSE:VRT) took a deep dive on Wednesday, February 23, 2022, hitting a nearly 20-month low, following its weak financial performance for the fourth quarter.
Vertiv Holdings Co (NYSE:VRT) reported adjusted earnings of 4 cents per share on revenue of $1.41 billion. The results fell short of analysts’ average estimate of 28 cents per share for earnings and $1.42 billion for revenue.
For the first quarter, Vertiv Holdings Co (NYSE:VRT) expects revenue in the range of $1.1 – billion. Moreover, it expects to generate revenue between $5.5 – $5.8 billion for the full year. On the other hand, analysts were looking for revenue of $1.27 billion for Q1 and $5.73 billion for 2022.
Like Vertiv Holdings Co (NYSE:VRT), Lowe’s Companies, Inc. (NYSE:LOW), The TJX Companies, Inc. (NYSE:TJX) and Teladoc Health, Inc. (NYSE:TDOC) also came into the spotlight after releasing their financial results.
6. Exact Sciences Corporation (NASDAQ:EXAS)
Number of Hedge Fund Holders: 34
Exact Sciences Corporation (NASDAQ:EXAS) recently announced better-than-expected sales for the fourth quarter. However, its quarterly loss was wider than expectations, sending its shares down over six percent on Wednesday, February 23, 2022.
The Wisconsin-based molecular diagnostics company reported a loss of $1.28 per share, compared to a loss of $2.67 per share it reported for the fourth quarter of 2020. On the other hand, analysts expected Exact Sciences Corporation (NASDAQ:EXAS) to report a loss of $1.04 per share.
Revenue came in at $473.8 million, up 2 percent versus last year and better than the consensus of $449 million. Exact Sciences Corporation (NASDAQ:EXAS) also disclosed the sales numbers of its flagship products and segments.
Screening revenue for the quarter rose 11 percent to $277.7 million, while Precision Oncology revenue climbed 27 percent to $149 million. On the downside, coronavirus testing revenue plummeted 52 percent to $47.1 million.
Exact Sciences Corporation (NASDAQ:EXAS) also released its sales outlook for the full year. It projected revenue of $1.97 – $2.03 billion versus analysts’ average estimate of $1.99 billion. Screening revenue is expected to come between $1.34 – 1.37 billion, Precision Oncology revenue in the range of $595 – $610 million and coronavirus testing revenue between $40 – $50 million.
Speaking on the results, CEO Kevin Conroy said:
“Cologuard® and Oncotype DX® are off to a great start in 2022, with strong momentum from the fourth quarter carrying over to the new year. We have a team of talented people dedicated to defeating cancer. You’ll see the results of their dedication this year as we test more patients and share evidence supporting our pipeline of innovative tests across the cancer continuum.”
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Disclosure: None. 10 Stocks in Focus After Posting Their Earnings Reports is originally published on Insider Monkey
