With robotic and remote medical services taking center stage, the nature of business in the medical instrument market has undergone a considerable change. Unfortunately, the industry has suffered as a result of numerous difficulties, including increased labor and raw material costs as well as freight costs. It is challenging to gauge the extent of the economic recovery due to these factors and concerns surrounding the appearance of new COVID strains in various regions of the world.
Many medical device companies reported a slow recovery in their core operations through the first half of 2022 but in the second half, personnel shortages and supply chain-related risks resurfaced.
Businesses that successfully adjusted to shifting consumer tastes are gradually seeing a recovery in their share price.
Here we discuss three medical instrument makers — Lantheus (LNTH - Free Report) , Rockwell Medical (RMTI - Free Report) and Viemed Healthcare (VMD - Free Report) — that have gained so far this year amid lingering challenges. Their share price has moved up by more than 20%, significantly outperforming the industry as well as the S&P 500. These stocks also have a Growth Score of A or B, implying more upside for the stocks. Please note that the Growth Style Score analyzes the growth prospects of a company and also evaluates its corporate financial statements. Studies have shown that stocks exhibiting the best growth characteristics consistently outperform the market.
While LNTH sports a Zacks Rank #1 (Strong Buy), RMTI and VMD carry a Zacks Rank #2 (Buy), indicating positive revisions in earnings per share (EPS) estimates lately. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lantheus
The company has a Growth Score of A. The Zacks Consensus Estimate for earnings has moved 11.8% and 14.7% north for 2023 and 2024, respectively, in the past 30 days. Shares of the company have rallied 67.8% so far this year.
Lantheus’ fourth-quarter 2022 revenues grew a whopping 103% year over year. The company expects revenues to grow in the range of 21.9%-24.1% in 2023. Lantheus is involved in developing, manufacturing, selling and distributing diagnostic medical imaging agents and products for the diagnosis of cardiovascular and other diseases.
Rockwell Medical
The company has a Growth Score of A. The Zacks Consensus Estimate for loss has narrowed by 28.2% for 2023 in the past 60 days. Shares of the company have surged 95.1% so far this year.
Rockwell’s fourth-quarter 2022 revenues grew 26% year over year. The company expects revenues to grow by 7.1%-12.6% in 2023. Rockwell manufactures hemodialysis concentrates and dialysis kits, and sells, distributes and delivers such concentrates and dialysis kits, as well as other ancillary hemodialysis products, to hemodialysis providers in the United States.
Viemed Healthcare
The company has a Growth Score of B. The Zacks Consensus Estimate for earnings has moved 11.1% and 34.1% north for 2023 and 2024, respectively, in the past 60 days. Shares of the company have rallied 37.1% so far this year.
Viemed’s fourth-quarter 2022 revenues grew 30% year over year. The company expects revenues to grow 1.3%-12.6% in 2023. Viemed is a provider of in-home medical equipment and post-acute respiratory healthcare services in the United States.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
With robotic and remote medical services taking center stage, the nature of business in the medical instrument market has undergone a considerable change. Unfortunately, the industry has suffered as a result of numerous difficulties, including increased labor and raw material costs as well as freight costs. It is challenging to gauge the extent of the economic recovery due to these factors and concerns surrounding the appearance of new COVID strains in various regions of the world.
Many medical device companies reported a slow recovery in their core operations through the first half of 2022 but in the second half, personnel shortages and supply chain-related risks resurfaced.
Businesses that successfully adjusted to shifting consumer tastes are gradually seeing a recovery in their share price.
Here we discuss three medical instrument makers — Lantheus (LNTH - Free Report) , Rockwell Medical (RMTI - Free Report) and Viemed Healthcare (VMD - Free Report) — that have gained so far this year amid lingering challenges. Their share price has moved up by more than 20%, significantly outperforming the industry as well as the S&P 500. These stocks also have a Growth Score of A or B, implying more upside for the stocks. Please note that the Growth Style Score analyzes the growth prospects of a company and also evaluates its corporate financial statements. Studies have shown that stocks exhibiting the best growth characteristics consistently outperform the market.
While LNTH sports a Zacks Rank #1 (Strong Buy), RMTI and VMD carry a Zacks Rank #2 (Buy), indicating positive revisions in earnings per share (EPS) estimates lately. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lantheus
The company has a Growth Score of A. The Zacks Consensus Estimate for earnings has moved 11.8% and 14.7% north for 2023 and 2024, respectively, in the past 30 days. Shares of the company have rallied 67.8% so far this year.
Lantheus’ fourth-quarter 2022 revenues grew a whopping 103% year over year. The company expects revenues to grow in the range of 21.9%-24.1% in 2023. Lantheus is involved in developing, manufacturing, selling and distributing diagnostic medical imaging agents and products for the diagnosis of cardiovascular and other diseases.
Rockwell Medical
The company has a Growth Score of A. The Zacks Consensus Estimate for loss has narrowed by 28.2% for 2023 in the past 60 days. Shares of the company have surged 95.1% so far this year.
Rockwell’s fourth-quarter 2022 revenues grew 26% year over year. The company expects revenues to grow by 7.1%-12.6% in 2023. Rockwell manufactures hemodialysis concentrates and dialysis kits, and sells, distributes and delivers such concentrates and dialysis kits, as well as other ancillary hemodialysis products, to hemodialysis providers in the United States.
Viemed Healthcare
The company has a Growth Score of B. The Zacks Consensus Estimate for earnings has moved 11.1% and 34.1% north for 2023 and 2024, respectively, in the past 60 days. Shares of the company have rallied 37.1% so far this year.
Viemed’s fourth-quarter 2022 revenues grew 30% year over year. The company expects revenues to grow 1.3%-12.6% in 2023. Viemed is a provider of in-home medical equipment and post-acute respiratory healthcare services in the United States.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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