The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how medical devices & supplies - diversified stocks fared in Q4, starting with Neogen (NASDAQ: NEOG).

The medical devices industry operates a business model that balances steady demand with significant investments in innovation and regulatory compliance. The industry benefits from recurring revenue streams tied to consumables, maintenance services, and incremental upgrades to the latest technologies. However, the capital-intensive nature of product development, coupled with lengthy regulatory pathways and the need for clinical validation, can weigh on profitability and timelines. In addition, there are constant pricing pressures from healthcare systems and insurers maximizing cost efficiency. Over the next several years, one tailwind is demographic–aging populations means rising chronic disease rates that drive greater demand for medical interventions and monitoring solutions. Advances in digital health, such as remote patient monitoring and smart devices, are also expected to unlock new demand by shortening upgrade cycles. On the other hand, the industry faces headwinds from pricing and reimbursement pressures as healthcare providers increasingly adopt value-based care models. Additionally, the integration of cybersecurity for connected devices adds further risk and complexity for device manufacturers.

The 5 medical devices & supplies - diversified stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 2.2% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 6.2% on average since the latest earnings results.

Best Q4: Neogen (NASDAQ: NEOG)

Founded in 1981 and operating at the intersection of food safety and animal health, Neogen (NASDAQ: NEOG) develops and manufactures diagnostic tests and related products to detect dangerous substances in food and pharmaceuticals for animal health.

Neogen reported revenues of $224.7 million, down 2.8% year on year. This print exceeded analysts’ expectations by 7.2%. Overall, it was a stunning quarter for the company with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

Neogen achieved the biggest analyst estimates beat but had the slowest revenue growth of the whole group. Unsurprisingly, the stock is up 53.2% since reporting and currently trades at $11.30.

Is now the time to buy Neogen? Access our full analysis of the earnings results here, it’s free.

Stryker (NYSE: SYK)

With over 150 million patients impacted annually through its innovative healthcare technologies, Stryker (NYSE: SYK) develops and manufactures advanced medical devices and equipment across orthopedics, surgical tools, neurotechnology, and patient care solutions.

Stryker reported revenues of $7.17 billion, up 11.4% year on year, outperforming analysts’ expectations by 0.8%. The business had a satisfactory quarter with a narrow beat of analysts’ organic revenue estimates.

The market seems happy with the results as the stock is up 8.6% since reporting. It currently trades at $384.86.

Is now the time to buy Stryker? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Abbott Laboratories (NYSE: ABT)

With roots dating back to 1888 when founder Dr. Wallace Abbott began producing precise, dosage-form medications, Abbott Laboratories (NYSE: ABT) develops and sells a diverse range of healthcare products including medical devices, diagnostics, nutrition products, and branded generic pharmaceuticals.

Abbott Laboratories reported revenues of $11.46 billion, up 4.4% year on year, falling short of analysts’ expectations by 2.9%. It was a softer quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ organic revenue estimates.

Abbott Laboratories delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 4.3% since the results and currently trades at $115.55.

Read our full analysis of Abbott Laboratories’s results here.

Baxter (NYSE: BAX)

With a history dating back to 1931 and products used in over 100 countries, Baxter International (NYSE: BAX) provides essential healthcare products including dialysis therapies, IV solutions, infusion systems, surgical products, and patient monitoring technologies to hospitals and clinics worldwide.

Baxter reported revenues of $2.97 billion, up 8% year on year. This result topped analysts’ expectations by 5.7%. More broadly, it was a slower quarter as it produced a significant miss of analysts’ full-year EPS guidance estimates and a significant miss of analysts’ EPS estimates.

The stock is down 7.7% since reporting and currently trades at $20.56.

Read our full, actionable report on Baxter here, it’s free.

Boston Scientific (NYSE: BSX)

Founded in 1979 with a mission to advance less-invasive medicine, Boston Scientific (NYSE: BSX) develops and manufactures medical devices used in minimally invasive procedures across cardiovascular, urological, neurological, and gastrointestinal specialties.

Boston Scientific reported revenues of $5.29 billion, up 15.9% year on year. This number was in line with analysts’ expectations. More broadly, it was a mixed quarter as it also produced a narrow beat of analysts’ organic revenue estimates but a slight miss of analysts’ EPS guidance for next quarter estimates.

Boston Scientific scored the fastest revenue growth among its peers. The stock is down 18.7% since reporting and currently trades at $74.48.

Read our full, actionable report on Boston Scientific here, it’s free.

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