Alcoa’s (AA) quarterly release represented the official onset of the Q1 earnings season. Although the aluminium giant’s better-than-expected results marked a rosy start to the season, the gloomy outlook for first-quarter earnings have dimmed expectations. As per the Zacks Trend report, overall first-quarter earnings are expected to be down 10.6% and revenues are likely to decline 0.6%. Total first-quarter earnings for S&P 500 companies are expected to be down 10.6% from the year-ago quarter, a material decline from 1.1% expected at the start of the quarter. The massive downward revision in earnings estimates can be attributed to global growth concerns, a strengthening dollar and volatile oil prices. Notably, earnings growth is expected to be negative for 10 of the 16 Zacks sectors, including Technology and Finance, the two largest in the index. Medical is one of the few sectors in the S&P 500 that is expected to report growth in the first quarter. We believe the meaningful growth in the medical space will be primarily driven by MedTech’s strong product cycle and continuing innovation across different markets. How to Make the Right Pick? With the existence of a number of industry players, finding the right stocks that have the potential to beat earnings estimates could pose to be a difficult task. Our proprietary methodology, however, makes it fairly simple for you. You could narrow down the list of choices by looking at stocks that have the combination of a favorable Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a positive Earnings ESP. Earnings ESP is our proprietary methodology for determining stocks that have the best chance to surprise with their next earnings announcement. It provides the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as high as 70%. Our Choices Given below are five MedTech providers that have the right combination of elements to post an earnings beat this quarter: Align Technology Inc. (ALGN) – Based in San Jose, CA, Align Technology manufactures and markets clear aligner therapy system, intra-oral scanners and CAD/CAM (computer-aided design and computer-aided manufacturing) digital services used in dentistry, orthodontics, and dental records storage. The company has posted an average positive earnings surprise of 8.12% over the last four quarters. Currently, Align Technology flaunts a Zacks Rank #1 and has an earnings ESP of +12.82%. The company is slated to report first-quarter 2016 results on Apr 28. Inogen Inc. (INGN) - Goleta, CA-based Inogen develops, manufactures and markets portable oxygen concentrators (POC). POCs are used by patients who suffer from chronic respiratory conditions and need long-term oxygen therapy. The company posted an average positive earnings surprise of 31.91% over the last four quarters. Currently, Inogen carries a Zacks Rank #2 and has an earnings ESP of +9.09%. The company is expected to report first-quarter 2016 results on May 10. Zimmer Biomet Holdings Inc. (ZBH) – Warsaw, IN-based Zimmer Biomet is a leading musculoskeletal healthcare company that designs, manufactures and markets orthopedic reconstructive products. Zimmer’s acquisition of Biomet Inc. has helped the combined entity emerge as the leading innovator in the $45 billion musculoskeletal market. Zimmer Biomet has posted an average earnings surprise of 3.20% over the last four quarters. The stock holds a Zacks Rank #2 with an earnings ESP of +1.55%. The company is expected to announce its first-quarter 2016 financial numbers on May 5. Quidel Corp. (QDEL) - Headquartered in San Diego, CA, Quidel Corp develops, manufactures and markets rapid diagnostic testing solutions primarily for detecting infectious diseases, women’s health-related ailments and gastrointestinal diseases. The company has posted an average positive earnings surprise of a whopping 62.20% over the last four quarters. Quidel currently carries a Zacks Rank #3 and has an earnings ESP of +42.86%. The company is scheduled to report first-quarter 2016 results on Apr 27. Glaukos Corporation (GKOS) - Headquartered in Laguna Hills, CA, Glaukos develops, manufactures and markets medical devices for the treatment of glaucoma. Its product pipeline consists devices like iStent Inject, the iStent Supra and iDose. The stock recorded an average positive earnings surprise of 30.31% over the last four quarters. Glaukos currently carries a Zacks Rank #3 and has an earnings ESP of +12.50%. The company is expected to report first-quarter 2016 results on Jun 7. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ALIGN TECH INC (ALGN): Free Stock Analysis Report INOGEN INC (INGN): Free Stock Analysis Report GLAUKOS CORP (GKOS): Free Stock Analysis Report ZIMMER BIOMET (ZBH): Free Stock Analysis Report QUIDEL CORP (QDEL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research