Top Performers for Feb. 13
The five best performing stocks on the Zacks #1 Rank List last week were: Allscripts-Misys Healthcare Solutions, Inc. (MDRX - Analyst Report), Amedisys, Inc. (AMED - Snapshot Report), Western Refining, Inc. (WNR - Snapshot Report), ZymoGenetics, Inc. (ZGEN - Snapshot Report) and El Paso Pipeline Partners, L.P. (EPB - Snapshot Report).
The medical software provider expects areas such as electronic health records and electronic prescribing to get a boost from the federal stimulus package. Last week, MDRX agreed in principle to sell its Medication Services business, which will allow it to focus on its core healthcare information technology business. Also, the company announced that its Board approved a $150 million stock repurchase program.
Amedisys, Inc. (AMED - Snapshot Report) was gearing up for its fourth-quarter report last week when shares advanced 9.8%. The market's interest was well founded as this Zacks #1 Rank Top Performer announced strong quarterly results yesterday, including adjusted earnings per share of 98 cents that beat the consensus by 7 cents. In the year-ago quarter, this home health nursing company earned 63 cents. In addition, net service revenue advanced 75.3% to $340.1 million.
Over the past 2 months, earnings estimates for this year, ending in December, are up 8.3%. Analysts currently expect this year's profit to improve approximately 29% from last year. In the quarterly report, AMED stated that it has positioned itself well to continue its strong financial performance in 2009.
Western Refining, Inc. (WNR - Snapshot Report) shares gained 8.25% last week, which was enough to secure a spot on the Zacks #1 Rank Top Performers List for the week ended Feb 13. In the past month, earnings estimates for last year are up 1.9% while expectations for this year have jumped 71%.
In the company's third-quarter report from November, earnings per share of $1.61 easily improved year over year. The result also beat the consensus by nearly 144%. WNR attributed the results to higher refined product margins. WNR is an independent refining and marketing company headquartered in El Paso, Texas.
ZymoGenetics, Inc. (ZGEN - Snapshot Report) reported a loss of 13 cents per share for its fourth quarter last week, which was significantly narrower than the consensus' expected loss of 46 cents by more than 70%. (Its loss for the full year was also narrower than a year earlier.) The biopharmaceutical company said that these improvements reflected increases in revenue and decreased research and development expenses. For the quarter, revenues improved to $36 million from $20.5 million, thanks in part to sales of RECOTHROM.
ZGEN was a top-performing Zacks #1 Rank company last week with shares that increased 4.3%. Analysts continue to expect losses for this year and next, but expectations have narrowed significantly of late. ZYGN offered a loss estimate for 2009 that was less than the consensus' loss estimate. As a result, in just the past 7 days, loss estimates for this year are narrower by 61 cents, while loss estimates for next year are narrower by 26 cents.
El Paso Pipeline Partners, L.P. (EPB - Snapshot Report) was featured as a Value Stock of the Day at Zacks.com on Feb 11, due, in part, to its decision to raise its quarterly distribution by 6.7%. The company was also a Zacks #1 Rank Top Performer for last week as shares advanced approximately 3.8%. The company will release its fourth-quarter numbers later this month.
Earnings estimates for this year, ending December 2009, moved forward by 1.4% over the past month. Furthermore, analysts currently expect profit in 2009 to advance more than 18% from last year. EPB is a Delaware limited partnership formed by El Paso Corporation to own and operate natural gas transportation pipelines and storage assets.