Analyst predicts elective surgery volume returns could drive 'return to normalcy' for healthcare companies

Surgical supplier Owens & Minor revised its earning guidance back to pre-pandemic levels, which one Nasdaq analyst believes is reflective of a "return to normalcy" for healthcare-based investments.

Owens & Minor did 70 percent of its normal business in April, 85 percent in May and more than 90 percent in June. During its second-quarter earnings call in August, Owens & Minor projected earnings for the rest of the year to mirror June's numbers. However, this week it revised its expectations to finish the year at its pre-pandemic projections.

Nasdaq believes the revised earning expectations are indicative of the return of elective procedures, and projects favorable earning revisions for HCA Healthcare, Intuitive Surgical, Stryker and Johnson & Johnson.

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