Workforce get the job done on the creation line of oxygenators at a business in Ganzhou, Jiangxi province. [HU JIANGTAO/FOR CHINA DAILY]
Desire in China for medical materials like oxygenators and pulse oximeters, which measure the oxygen concentration in arterial blood, has grown exponentially in modern weeks, as the authorities anxious have optimized COVID-19 avoidance and regulate steps to deal with the less lethal but really contagious Omicron sub-variants.
Out there shares of numerous types of oxygen concentrators and oximeters built by important Chinese health care gear suppliers these types of as Yuwell Group, Lepu Clinical and Edan Instruments have sold out currently. To purchase clean output, consumers have to have to reserve in advance on e-commerce platforms such as Alibaba”s Taobao, JD and Suning.com, current market observers stated.
Info from on-line retailer Suning.com confirmed product sales of homeuse medical gadgets rose 214 percent thirty day period-on-month this month, though JD Overall health, the healthcare arm of JD, explained the transaction quantity of oximeters skyrocketed 61 periods calendar year-on-calendar year in the previous 7 days by yourself.
Contec Health-related Methods Co Ltd, a significant-tech company concentrating on exploration, manufacture and distribution of healthcare products, mentioned it has modified its generation traces and is growing its potential to meet soaring desire, with the each day output of pulse oximeters alone achieving 100,000 models.
Final 12 months, Contec’s oximeter solutions by itself produced revenue earnings of 461 million yuan ($66.21 million), about 50 {08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} of the company’s whole revenue.
SysMed China Co Ltd, a Shenyang, Liaoning province-primarily based company of oxygen concentrators, non-invasive ventilators and other respiratory rehabilitation items, explained it exports healthcare products to additional than 100 nations and regions, and about 95 {08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} of its output of oxygen concentrators is commonly sold overseas.
Huang Yong, general manager of SysMed China, said the enterprise has efficiently negotiated a slight hold off in shipments with abroad consumers, as domestic orders for its oxygen concentrators have spiraled additional than 10 instances.
“But solid domestic demand from customers has now caused some chaos in the industry’s provide chain, and our business simply cannot create items at total swing due to a lack of some elements,” he claimed, incorporating clinical products should be still left for all those who are genuinely in will need of them.
Yuwell Group, a notable company of clinical goods in China, stated the recent concentrations of manufacturing of its oximeters and oxygenators have been usual, and it will grow its enterprise in an correct way immediately after factoring in its have rewards, development direction and strategic positioning.
In 2021, profits of Yuwell’s ventilators and oxygenators were well worth 2.62 billion yuan, accounting for approximately 40 per cent of its total earnings. In the section of oximeters, the company’s items command more than 70 p.c market place share on JD’s on the web marketplaces.
Bo Wenxi, main economist at marketing business Interpublic Group China, explained some people, fearing feasible bacterial infections, are likely to stock up on some professional medical machines. They should really, however, recognize that only people in serious or critical condition and elderly people today with underlying wellbeing conditions need oxygenators and oximeters to test their blood oxygen saturation degrees, he mentioned.
With start of its Medical Principles Engine, household-dependent treatment innovator radically simplifies dwelling health-related products success throughout 3,500 clinical machines codes will extend to full spectrum of home healthcare services
Most recent automation improvement streamlines and simplifies fragmented DME purchase and claims processes, drives down readmissions, lessens overall price tag of care
NEW YORK, Dec. 7, 2022 /PRNewswire/ — Tomorrow Well being, a healthcare technological know-how firm enabling more effective and trusted property-dependent care, today introduced that it has thoroughly automatic the buy lifecycle for the total spectrum of resilient healthcare machines (DME) codes. Powered by the launch of Tomorrow Health’s Clinical Policies Motor, the most up-to-date innovation streamlines present day fragmented DME ecosystem, offering payers the capability to regulate the shift of extra care to the household. It also is a very first phase in the firm’s extended-term program to automate the total spectrum of household health care companies payment inside its platform, spanning tens of thousands of health care payment (HCPCS) codes.
Much more than a 3rd of residence-discharged clients transition to better cost settings in excess of the program of a calendar year. Conflicting specifications for dwelling clinical orders amongst the prescriber and the wellness program can guide to delays, or in additional extreme situations, medical center readmissions. Even the most properly-intentioned doctors, nurses or scenario professionals can wrestle with 100+ website page health and fitness system files, or variability in how person coverage programs solution distinctive kinds of professional medical gear approval.
Treatment companies utilizing Tomorrow Health to purchase clinical tools for their client populations can now acquire edge of new HCPCS code automation characteristics. Clinicians are now guided as a result of a 1-5 concern dynamically rendered electronic wise kind, entirely customized to a patient’s collaborating wellbeing insurance policy prepare. On form completion, the purchase is promptly routed to the home-dependent treatment provider ideal suited for the patient’s desires. In total, Tomorrow Wellness cuts a ordinarily 1-2 7 days method to five days or fewer for most orders, with half sent in two times, guaranteeing clients get the home-dependent treatment they have to have, when they want it. The new element is presently in energetic rollout with referring care providers.
“Large-touch administration of care transitions from healthcare facility to house or write-up-acute care to household calls for that we simplify and digitize the course of action, improving upon care transitions and delivering payers, care teams and all parties with up-to-the-minute visibility into care position,” reported Vijay Kedar, co-founder and CEO, Tomorrow Well being. “Fully automating a single of the most cumbersome and specialized sections of the residence health care coding method is a huge phase ahead for drifting down readmissions and restoring reduce-cost residence options as patients’ main area of care.”
“Tomorrow Wellbeing tends to make documentation and buy fulfillment a great deal a lot easier, which allows us post statements and obtain payment far more timely,” stated Shawna Morton, Vice President of Contracts at Rotech Health care. “Cutting down reimbursement complexity is a large phase ahead in guaranteeing patients get the equipment they will need when they have to have it the most.
About Tomorrow Wellness
Tomorrow Health and fitness enables outstanding health care for individuals and their family members in the location they want to be most — house. By partnering with payors, referring suppliers and residence-primarily based care suppliers, Tomorrow Wellness streamlines the home-based treatment process to elevate the individual experience. Its details-driven market matches sufferers and their people with superior quality house-primarily based treatment suppliers, simplifies purchasing and coverage processes, and gives higher-touch assist at each and every step. Partnering with more than 125 main wellbeing plans and hospital units throughout the nation, Tomorrow Wellness is America’s reliable partner for superior-high-quality property-centered care. Investors include things like BOND, Andreessen Horowitz, Apparent Ventures, BoxGroup, Rainfall Ventures, and Audio Ventures and latest and previous C-stage executives from Humana, Tenet Health care, Flatiron Wellness, Quartet, Oscar, PillPack, Signify Wellbeing, Stripe, Warby Parker, Massachusetts Medicaid and the Globe Bank. For more data, go to www.tomorrowhealth.com or contact [email protected]
Media Make contact with: tomorrowhealth@hermesprgroup.com
This story is part of 12 Days of Tips, helping you make the most of your tech, home and health during the holiday season.
Your flexible spending account (FSA) provides a delicate balance of risk and reward. On the positive side, you get tax-free contributions toward expected health costs like over-the-counter medicine, screening tests and medical equipment. On the negative side, you usually have to spend your money every year or you lose it. (Don’t let your company take your money.)
FSA funds can be used for medical treatments, insurance deductibles and copayments and for prescription medicine that isn’t covered by insurance, but a whole long list of items and health services can be FSA eligible, including several you may not have considered, like face masks, yoga classes or sunscreen.
Read on to find all of the possible ways to spend your FSA money before the end of 2022. For more, read about the best life insurance companies or the best pet insurance.
What is a flexible spending account, or FSA?
Flexible spending accounts (also called flexible spending arrangements) are a type of “cafeteria plan” from employers that allow people to use tax-free contributions from their paychecks for specific expenses. There are several types of FSAs, but the most common are health FSAs, which participants can use to pay for medical and dental costs that aren’t covered by insurance.
With an FSA, you’ll decide how much you want to contribute at the beginning of the year, and your employer will deduct a portion of it from every paycheck.
The maximum amount an employee can contribute to an FSA is $2,850 for 2022 and $3,050 for 2023. Employers might provide additional funds to FSAs as a benefit, but those funds do not impact the employee contribution limit.
Traditionally, employees with FSAs will file claims with their employers to receive reimbursement for eligible expenses. Some companies now issue a debit card with FSAs so that plan participants can make purchases directly from their accounts.
Most FSAs follow a “use it or lose it” system where unused funds at the end of the year revert to your employer, with two possible exceptions. Changes to the laws on FSAs in 2021 allow companies the option of giving employees either up to a two-and-half-month grace period (that is, until March 15, 2023) to use FSA funds; or carrying over funds up to $610 into the following year. If you do carry over money from 2022 into 2023, that does not affect your yearly contribution limit of $3,050.
Employers are not required to provide either FSA continuation option to their employees, however. Every company has its own FSA rules, so be sure to check with your FSA plan administrator or human resources department for the exact details of your plan.
What can I spend my FSA money on?
Along with medical treatment such as doctor and emergency room visits, insurance deductibles and copayments, and prescription medicine, there is a long list of approved products and services that are eligible for FSA coverage.
While some FSA items are automatically eligible for everyone, other products and services require a letter of medical necessity (LMN) from a licensed physician. The following list of FSA-eligible products is not completely exhaustive, but it covers all of the major categories of medical and dental care that can be paid for with FSA money:
Over-the-counter medicine: OTC medications were not FSA eligible until the passage of the Coronavirus Aid, Relief, and Economic Security Act in 2020. Now, cold, flu and allergy medications, pain relief like ibuprofen and acetaminophen, motion sickness pills, glucosamine sulfate for joint pain and other OTC medicine all qualify for FSA claims. First-aid kits and supplies like adhesive bandages and antibiotics are also eligible.
The IRS added COVID-19 protections like face masks to the FSA eligibility list in 2021.
Sarah Tew/CNET
COVID-19: COVID-related products such as face masks, at-home tests and hand sanitizer qualify for FSA reimbursement.
Dental procedures and products: Your dentures, implants, bridges and sealants are all covered by FSA, as are dental reconstruction and wisdom teeth removal. FSA funds can usually cover orthodontia, including Invisalign. Veneers require an LMN from a dentist.
Vision: Not only can you use your FSA funds for prescription eyeglasses and prescription sunglasses, you can also use them for non-prescription reading glasses or blue-blocker glasses. Similarly, contact lenses and supplies, including cleaning solution and lens cases, are eligible for FSA coverage, as are cataract and laser eye surgery.
Hearing: Your FSA money can be used for hearing aids, as well as batteries and maintenance for those aids. Telephones for the hearing impaired are also covered, as are products like ear cleaners and wax removers.
Breathing: Respiratory products such as nasal spray, inhalers and vaporizers are eligible for FSA coverage. With an LMN from a doctor, air conditioning, air filters and air purifiers can all be eligible for reimbursement.
Sleep:Along with OTC sleep medications, your FSA money can also be used for CPAP machines for sleep apnea and mouth guards to prevent teeth grinding. Prescription sleep medicine is also included. Items such as pillows with lumbar support or melatonin can be covered with an LMN from a doctor.
Preventive screenings: Take care of yourself with tests to evaluate your health that can be paid for with FSA money. Eligible screenings include DNA testing, heart scans, cancer screening, diabetes screening, HPV and HIV screening, breast cancer mammography screening and CT scans, as well as any blood tests that aren’t covered by insurance.
Pregnancy and sexual health: Most pregnancy related items and services are eligible for FSA funding, including pregnancy tests, prenatal vitamins, infertility treatments, intrauterine insemination and in vitro fertilization (IVF), as well as costs related to egg donors, surrogates, and egg and embryo storage. Men can use FSA funds on vasectomy reversal and Viagra.
Babies: FSA funds can cover many newborn-related expenses, including breast pumps, lactation consultants, breastfeeding classes, breast milk storage bags, diaper rash ointment, children’s sunscreen and baby breathing monitors. Infant formula can qualify, but only with an LMN from a doctor.
Contraception: FSA funds can help prevent unwanted pregnancies as well. Birth control pills, tubal ligation, vasectomies and condoms are all eligible. Levonorgestrel-based “morning-after pills” like Plan B One-Step or Take Action are eligible for FSA funding, as are all legal abortion procedures, including RU 486 pills (Mifepristone).
Menstruation: Pads, tampons, period underwear, pain relievers and other menstrual supplies all qualify as FSA expenses.
Medical equipment: Most products for measuring health are eligible for FSA money. Examples are thermometers, blood pressure monitors, blood sugar test kits and pulse oximeters.
Batteries: Along with the medical equipment itself, if you use batteries to power medical devices, they are FSA eligible.
Mental health: You can use FSA money for mental health treatments and services, including therapy and counseling in person or online. Visits to psychologists or psychiatrists are eligible, as are psychiatric care and prescription medicine. Unfortunately, marriage and couples counseling are not eligible for FSA reimbursement.
Addiction: FSAs can cover smoking cessation treatments and products to help stop smoking, like nicotine gum or patches. They can also cover donations to Alcoholics Anonymous meetings and the cost of transportation to attend, as well as other substance abuse programs and treatment for gambling addiction. An LMN is required to cover the cost of staying at a halfway house.
Weight loss: Weight-loss programs are eligible for FSA coverage, as are gastric bypass or lap-band surgeries. Prescription drugs for weight loss can also be covered by FSA money.
Yoga mats and classes can be paid for with an FSA, but only with a letter from a doctor.
Amanda Capritto/CNET
Physical fitness: Most fitness expenses aren’t eligible for FSA coverage unless they are prescribed by a physician with an LMN. These expenses, if doctor recommended, can include personal trainers, gym memberships and yoga classes.
Athletic protection: If you’re looking to keep yourself safe and healthy during athletic activity, your FSA funds will cover many items, including athletic tape, braces and bandages, cups, face masks and mouth guards.
Muscle therapy: Most physical therapy is eligible for FSA funding, including massage devices at home. You can also use your FSA money for carpal tunnel supports, back braces or heating and cooling pads.
Foot care: Even though you can’t use FSA funds for athletic shoes (no matter how orthopedic) you can still use FSA money for healthy feet. Supports for high or low arches, foot care products and corn removers are some of the items eligible for FSA coverage.
Transportation: FSA money can be used to pay for travel expenses related to medical care or advice, including airplane tickets, gas for driving, mileage and maintenance costs, parking, bus or train fares and lodging.
Alternative medicine: A few nontraditional medical products and practices are eligible for FSA funding, including acupuncture, chiropractic services, homeopathy and holistic medicine.
Health-related home improvements: If you need to make changes to your living situation to account for an injury or medical situation, your FSA money should be eligible for most of it, including wheelchair ramps, grab bar installations, wider doorways, lowered kitchen cabinets or counters and home elevators,
Mobility: For help getting around, FSA money can cover many products, including scooters, wheelchairs, crutches, canes and artificial limbs. Modifications to automobiles can also be eligible for FSA reimbursement with an LMN from a doctor.
Where can I buy products eligible for FSA spending?
You can purchase FSA-eligible products and services anywhere, as long as they qualify for reimbursement. Many major online retailers have created FSA-eligible stores that include all of the products that can be bought with FSA funds.
Amazon, CVS, Target, Walgreens and Walmart all have their own FSA/HSA stores to make it easy to find qualifying medical and dental products.
Which expenses can’t be paid for with FSA money?
Despite the long list of potential uses for your FSA money, there are some medical and dental items that don’t qualify. Here is a list of products, services and expenses that are not eligible to be covered by FSAs:
Adoption expenses
Athletic shoes
Baby bottles
Bug repellant
Cannabidiol (CBD) products
Car seats
Cotton swabs
Dehumidifiers
Dental floss
Deodorants
Hair regrowth or hair removal products (including electrolysis)
Health or dental insurance premiums
Lactaid or other lactose-intolerance medication
Latex or nitrile gloves
Liposuction
Marriage counseling
Mattresses
Medical marijuana
Paternity testing
Protective goggles or safety glasses
Shampoo, soap, shaving cream or skin moisturizer
Smoke or carbon monoxide detectors
Summer or athletic camps
Tattoo removal
Teeth whitening or bleaching
Toothbrushes or toothpaste
UV protective gear
Veterinarian costs
Weight-loss supplements
For more health-related reading, learn how colder weather in winter can impact your breathing.
SOUTHFIELD, Mich. (WXYZ) — With 18{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} of the state’s inhabitants now 65 and older, Michigan retains the 14th largest getting old demographic in the nation and that demographic has an opinion about getting older in spot. The wide vast majority want to keep house for as extensive as feasible. That means they need access to the correct assets, anything.
Shortages exacerbated by the pandemic are generating what would usually be a easy activity far a lot more complicated.
“Most men and women want to keep property and have stop-of-daily life treatment at household as well,” claimed Chris Zayid, from Affinity Senior Treatment.
A 2021 AARP study displays more than 3/4 of grown ups aged 50 and up want to age in position but as the pandemic carries on its keep- modifications in labor and supply are putting a pressure on that ability.
WXYZ’s Ameera David questioned, “How a great deal much more demanding is it now?”
“Covid caused a great deal of provide troubles for us,” explained Bob Binson from Binson’s Medical Machines.
Binson Healthcare Products and Materials says the past two many years have been challenging on people of air flow-relevant solutions.
With respiratory troubles at an all-time high proper now, C-Paps and nebulizers are two of the professional medical equipment that are most difficult to continue to keep stocked.
Nebulizer treatment is usually prescribed to seniors to control COPD & asthma –C-Paps – made use of to deal with serious snooze apnea.
“What are wait around moments like?” requested David.
“At the worst stage we had folks ready up to a few months,” stated Binson.
Wait situations on all those are enhancing – even though, that is not the scenario for a different have to-have system.
“People are waiting a long time to get these certain power chairs,” explained Binson pointing to wheelchairs.
Fixing them is its individual problem, with a lot of parts on backorder thanks to the world wide provide chain disaster.
“This is about independence,” mentioned David.
“Independence and currently being in a position to do matters by themselves, that could be the difference involving them remaining house or going into a nursing household,” claimed Binson.
Probably absolutely nothing is impacting the home healthcare marketplace additional than the caregiver scarcity.
“They would have to call back again and say I’m sorry we cannot discover any person in your space,” reported Elaine Krueger.
No just one knows that wrestle much better than Elaine and Larry Krueger.
“We’ve most likely been by means of 8 to 10 distinctive agencies,” said Elaine.
They expended practically 3 yrs looking for a constant caregiver for Larry, who has a progressive muscle disorder, and deemed shifting him to an assisted dwelling facility, until lastly getting luck with Affinity Senior Treatment.
“The treatment need is increasing,” mentioned Zayid.
It is been intricate by higher turnover premiums among the healthcare vendors, spurred by the pandemic’s terrific resignation. for affinity, that signifies selecting is in overdrive with better wages and advantages
“Finding fantastic excellent care specialists is what the emphasis is,” explained Zayid.
All so it lets seniors to keep their independence for as very long as feasible and age comfortably in place.
“It does give me far more assurance, would make me sense more comfortable,” said Larry Krueger.
“This is so acquainted for him,” claimed Elaine.
“Unfortunately, there’s not a lot we can do about provide shortages, but we can do our very best to deal with important treatment providing products and services. affinity senior treatment along with many other property treatment providers are employing ideal now.
The move from the Division of Health and fitness and Human Products and services on Wednesday came through the Strategic Countrywide Stockpile (SNS), which permits the federal government to faucet its reserves of medicine and other health-related supplies when a mass outbreak or other health disaster takes place.
It is true. There is a community of warehouses, each individual the measurement of a number of Walmart Supercenters, positioned in top rated-solution spots across the place. And although a lot about the stockpile continues to be a mystery, it carries on to enjoy a vital position in the COVID pandemic.
This is what we know about the multibillion-dollar stock of vaccines, machines and other health care supplies built to enable help save life.
What form of materials does the SNS stockpile?
In quick, very much any health care supplies that could be practical throughout a mass outbreak or health disaster.
There are 1,960 containers of nerve agent antidotes, recognized as chempacks, in circumstance of a chemical incident, in additional than 1,340 destinations, these as fireplace stations and hospitals, across the U.S. More than 90{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} of Individuals live in an hour of a single of these destinations, according to ASPR.
If a pure disaster or one more disaster influences the amount of hospitals or quantities of health-related devices accessible, the SNS can deploy “fast deployable caches” that arrive with a bed and other clinical supplies. Each of these federal healthcare stations can house 50 to 250 individuals and will come with ample pharmaceutical supplies to previous for a few times.
The SNS also says it has “hundreds of thousands of masks, gloves, gowns, N95 respirators, face shields and other essential supplies” and 16 distinctive designs of ventilators at the prepared for these with COVID.
What is the place of stockpiling so substantially medicine?
The SNS is intended to be there in situation we will need it. By acquiring so a lot of medical supplies in its reserves, the country is intended to assistance when nearby businesses operate out, or when substantial quantities of health-related materials are essential at a moment’s discover.
The SNS “serves as the nation’s repository of medications and supplies for use if there is a community overall health emergency, these as a terrorist assault, flu outbreak, or purely natural catastrophe, severe enough to bring about community provides to run out,” according to the Centers for Disorder Manage and Avoidance.
When did the U.S. govt get started accomplishing this?
Congress approved the development of the SNS, then recognized as the National Pharmaceutical Stockpile, in 1999, the CDC says.
The federal authorities at first produced the SNS to combat chemical or biological attacks. It has due to the fact been applied to help with outbreaks, this sort of as the Ebola virus and monkeypox (now identified as mpox), but officials started to consider notice of its use when the pandemic led to drastic shortages of vital healthcare materials.
But regardless of its creation, spending plan cuts, challenges with the world-wide provide chain and production difficulties made the SNS sick-equipped to offer with the pandemic, in accordance to an NPR investigation. Even nine months into the pandemic, the investigation found, the SNS still lacked critical clinical supplies.
Most not long ago, an Oct 2022 report from the U.S. Government Accountability Business office identified that the SNS unsuccessful to supply the nation with plenty of assets to battle the pandemic.
“The COVID-19 response has also been a catalyst for HHS to re-analyze SNS operations, such as the function, tasks, know-how, and inventory desired moving forward,” the GAO report reported.
What do we know about these warehouses?
Picture a large warehouse stuffed with cabinets and cabinets of health care supplies as significantly as the eye can see.
The locations of the warehouses are a solution. But about the yrs, officials have shared some information and facts about their size — and stock.
In 2016, NPR’s Nell Greenfieldboyce was supplied a appear at just one of the substantial warehouses. Greg Burel, then the SNS director, informed her that the stockpile inventory was worthy of about $7 billion — a sizable increase from the allocated funds of $50 million back in 1999.
In this article, we discuss 11 best medical technology stocks to buy. If you want to see more stocks in this selection, check out 5 Best Medical Technology Stocks To Buy.
The global medical devices market is expected to grow from $495.46 billion in 2022 to $718.92 billion by 2029 at a CAGR of 5.5{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} during the forecast period. Increasing investments in research and development by medical technology firms, combined with favorable policies and regulations, are anticipated to advance the medical device industry over the next few years.
Following the pandemic years, digital healthcare has become indispensable, and the medical technology industry has seen meaningful demand for online medical and AI-powered technology services. Companies in the digital healthcare space have witnessed their stocks rally despite economic turbulence. During the pandemic, seeing the accelerating demand for medtech treatment options, many conventional healthcare companies transformed themselves and offered technology-led health solutions to survive and gain market share.
Some of the most popular medtech solutions include telemedicine, robotic surgery, medical imaging technologies, wearable medical devices, and AI-led healthcare management options. Investors seeking exposure to the medical technology sector can pick up stocks like DexCom, Inc. (NASDAQ:DXCM), Intuitive Surgical, Inc. (NASDAQ:ISRG), and Danaher Corporation (NYSE:DHR).
Our Methodology
We selected the following medical technology stocks based on positive analyst coverage, strong business fundamentals, and market visibility. We have assessed the hedge fund sentiment from Insider Monkey’s database of 920 elite hedge funds tracked as of the end of the third quarter of 2022. The list is arranged according to the number of hedge fund holders in each firm.
Stryker Corporation (NYSE:SYK) is a Michigan-based medical technology company that operates through two segments – MedSurg and Neurotechnology, and Orthopaedics and Spine. The company offers implants for use in joint replacements and trauma surgeries. Stryker Corporation (NYSE:SYK) also provides surgical equipment and surgical navigation systems, endoscopic and communications systems, emergency medical equipment, intensive care disposable products, and reprocessed and remanufactured medical devices.
On December 7, Stryker Corporation (NYSE:SYK) declared a $0.75 per share quarterly dividend, a 7.9{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} increase from its prior dividend of $0.695. The dividend is payable on January 31, 2023 to shareholders of record on December 30. The dividend yield on December 19 came in at 1.25{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f}.
Cowen analyst Joshua Jennings on December 14 raised the price target on Stryker Corporation (NYSE:SYK) to $283 from $233 and kept an Outperform rating on the shares. The analyst said the company looks positioned to provide positive 2023 revenue guidance on the back of a strong fourth quarter.
According to Insider Monkey’s data, 34 hedge funds were bullish on Stryker Corporation (NYSE:SYK) at the end of September 2022, compared to 46 funds in the prior quarter. Terry Smith’s Fundsmith LLP is the largest stakeholder of the company, with 5.6 million shares worth $1.14 billion.
Like DexCom, Inc. (NASDAQ:DXCM), Intuitive Surgical, Inc. (NASDAQ:ISRG), and Danaher Corporation (NYSE:DHR), Stryker Corporation (NYSE:SYK) is one of the premier medical technology stocks to consider.
Diamond Hill Capital made the following comment about Stryker Corporation (NYSE:SYK) in its Q3 2022 investor letter:
“Stryker Corporation (NYSE:SYK) was the only new addition to the portfolio in Q3. It is one of the largest medical device manufacturers with a track record of consistently outgrowing its end markets and competitors. Stryker has a highly performance driven culture with a decentralized operating model that results in strong incentive alignment within the company. We believe the management team has executed well, making small but meaningful decisions that have positioned the firm well among competitors. Management operates with a market share gain mentality and strives to be a category leader in the market they are in. Stryker also benefits from its broad portfolio of surgical tools, small and large cap hospital equipment, waste management products, etc., which enables it to address all the needs of a hospital operating room and be a one-stop shop for health care facilities. This is particularly appealing to hospitals, and it positions Stryker to be the supplier of all operating room equipment versus a single product, thus enabling the company to gain market share.”
Inspire Medical Systems, Inc. (NYSE:INSP) is a Minnesota-based medical technology company focused on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea in the United States and internationally. It is one of the best medical technology stocks to invest in.
On November 1, Inspire Medical Systems, Inc. (NYSE:INSP) reported a revenue of $109.2 million, up 77.0{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} year-over-year, beating Wall Street estimates by $14.59 million. Inspire Medical Systems, Inc. (NYSE:INSP) raised its full-year 2022 revenue guidance to between $384 million to $388 million, which would represent growth of 65{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} to 66{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} over the 2021 revenue of $233.4 million. This compares to the prior revenue guidance of $354 million to $362 million and a Wall Street estimate of $361.29 million.
Goldman Sachs analyst Amit Hazan upgraded Inspire Medical Systems, Inc. (NYSE:INSP) on December 13 to Buy from Neutral with a price target of $308, up from $245. Given “strong visibility” and the company’s “track record of execution,” the analyst sees upside to present consensus and expects “strong” upcoming 2023 guidance. Given multiple compression over the last six months relative to the group, the shares now offer improved better risk/reward, added the analyst, who categorized Inspire Medical Systems, Inc. (NYSE:INSP) as his top Medtech midcap for 2023.
According to Insider Monkey’s data, Inspire Medical Systems, Inc. (NYSE:INSP) was part of 37 hedge fund portfolios at the end of Q3 2022, compared to 31 in the prior quarter. Andreas Halvorsen’s Viking Global held the largest stake in the company, comprising 633,572 shares worth $112.3 million.
Here is what Alger Capital specifically said about Inspire Medical Systems, Inc. (NYSE:INSP) in its Q2 2022 investor letter:
“Inspire Medical Systems, Inc. (NYSE:INSP) markets the only FDA-approved implantable neuromodulation device used to treat obstructive sleep apnea (OSA). Inspire’s device monitors a patient’s breathing and delivers electrical stimulation to the hypoglossal nerve in order to maintain an open airway.
We believe the second quarter underperformance of Inspire shares is primarily attributable to the rotation away from high-growth, high-valuation health care names that are currently unprofitable. Additionally, we think the underperformance was compounded by Inspire being one of the best-performing medical device stocks in the first quarter. We believe many investors have been “selling the winners” in a risk-off environment. Looking ahead, we continue to believe that Inspire is one of the best growth opportunities in medical devices with no anticipated immediate competition. We also believe its market is highly underpenetrated.”
Align Technology, Inc. (NASDAQ:ALGN) is an Arizona-based medical device company that designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for restorative and aesthetic dentistry. On October 31, Align Technology, Inc. (NASDAQ:ALGN) announced an accelerated stock repurchase agreement with Goldman Sachs to repurchase $200 million of its common stock as part of the $1 billion share repurchase program disclosed in May. The transaction will be funded with cash on hand and is expected to conclude by February 1, 2023. Align Technology, Inc. (NASDAQ:ALGN) is one of the premier medical technology stocks to monitor.
On October 27, Stifel analyst Jonathan Block maintained a Buy recommendation on Align Technology, Inc. (NASDAQ:ALGN) but lowered the price target on the shares to $265 from $325. Following the company’s Q3 results and guidance, 2022 and 2023 EBITDA and EPS estimates are likely to “come toppling down,” said the analyst. Now, investors “will have to decide if the tables could turn in coming quarters,” noted Block, who added that comps will ease, innovation should improve, and that Align Technology, Inc. (NASDAQ:ALGN)’s market share “seems to be relatively resilient.”
According to Insider Monkey’s data, 38 hedge funds were bullish on Align Technology, Inc. (NASDAQ:ALGN) at the end of September 2022, compared to 33 funds in the last quarter. Brian Bares’ Bares Capital Management is the largest position holder in the company, with 913,324 shares worth over $189 million.
Here is what Polen Global Growth has to say about Align Technology, Inc. (NASDAQ:ALGN) in its Q2 2022 investor letter:
“Align Technology shares declined significantly during the second quarter when management reported a meaningful deceleration in growth. Management cited a host of challenges, including COVID19 impacts, especially in China with restrictions and lockdowns under their zero-COVID policy, a weaker economic environment, inflationary pressures, supply chain disruptions, and the war in Ukraine, to name a few. Tough comparisons were also a reality — Invisalign case starts in 1Q22 were roughly flat, having lapped the 66{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} growth from the prior year. It’s not completely surprising that growth is slowing on such tough comparisons, but the company’s shares declined on the news.
By looking at Align’s three-year compound average growth rate (CAGR) to smooth out the ups and downs through COVID, key metrics like Invisalign case shipment, clear aligner revenue, and earnings per share have all grown ~20{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} during the trailing three years. We think this is quite respectable given the challenges during this period, but the lack of near-term momentum or visibility has not been well received in the current environment. According to our research, Align is the clear market leader, has global scale, a superior product, and still very modest market penetration. While growth may be challenged near term, we remain confident in the long-term growth opportunity.”
Veeva Systems Inc. (NYSE:VEEV) is a California-based company that provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers customer relationship management and data management applications for the medical industry. It is one of the premier medical technology stocks to monitor.
On December 1, Veeva Systems Inc. (NYSE:VEEV) reported a Q3 non-GAAP EPS of $1.13 and a revenue of $552.35 million, outperforming Wall Street estimates by $0.06 and $6.29 million, respectively. Non-GAAP operating income for the third quarter was $219.5 million, compared to $199.4 million a year ago, representing an increase of 10{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} year-over-year.
KeyBanc analyst Scott Schoenhaus on December 5 maintained an Overweight rating on Veeva Systems Inc. (NYSE:VEEV) but lowered the price target on the shares to $210 from $220 to reflect some multiple impairment as the company works toward moving its CRM business from Salesforce to its Vault Platform when the contract expires in September 2025. The analyst noted the company posted a strong quarter with top and bottom-line beats, but guided slightly below expectations on Q4 billings, revenue, and operating profits.
According to Insider Monkey’s third quarter database, 42 hedge funds were long Veeva Systems Inc. (NYSE:VEEV), compared to 45 funds in the prior quarter. Greg Poole’s Echo Street Capital Management is the largest position holder in the company, with 899,876 shares worth $148.3 million.
Here is what Artisan Partners specifically said about Veeva Systems Inc. (NYSE:VEEV) in its Q2 2022 investor letter:
“Veeva Systems Inc. (NYSE:VEEV) is one of the highest quality franchises in our portfolio. The company has the dominant CRM platform for pharmaceutical sales and marketing organizations, and it is replicating that success with the rollout of numerous other modules focused on pharmaceutical customers’ manufacturing, quality, safety and clinical operations. Growth has temporarily slowed over the past year as the company laps difficult YoY comparisons caused by the rapid adoption of their virtual sales call solution during the pandemic. Several large deals also encountered unexpected delays in late 2021. Despite these short-term headwinds, we remain confident in Veeva’s future growth prospects and high-quality business model (~40{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} free cash flow margins supported by largely recurring subscription revenues). Meanwhile, we believe the defensive nature of its end market (health care) and strategic importance of cloud IT driven transformations could help buffer the company against a weaker global economy. As shares declined in Q2 along with other software stocks, we added to our position.”
Bio-Rad Laboratories, Inc. (NYSE:BIO) is one of the best medical technology stocks to consider buying. The California-based company manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. Bio-Rad Laboratories, Inc. (NYSE:BIO) focuses on selected segments of the life sciences market such as proteomics, genomics, biopharmaceutical production, cellular biology, and food safety. It is one of the leading medical technology stocks to buy.
On December 6, RBC Capital analyst Conor McNamara initiated coverage of Bio-Rad Laboratories, Inc. (NYSE:BIO) with an Outperform rating and a $565 price target. He believes shareholders will benefit from “an extended period of multiple expansion” as the company continues to deliver revenue acceleration and margin improvement. The stock trades at a 60{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f}-70{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} discount to peers and with $200 per share in cash and investments has “the most balance sheet optionality of any company in our sector,” the analyst noted.
According to Insider Monkey’s data, 45 hedge funds were bullish on Bio-Rad Laboratories, Inc. (NYSE:BIO) at the end of the third quarter of 2022, compared to 43 funds in the prior quarter. Israel Englander’s Millennium Management is the biggest position holder in the company, with 458,645 shares worth $191.3 million.
Medtronic plc (NYSE:MDT) develops, manufactures, and commercializes device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. The company operates through Cardiovascular Portfolio, Medical Surgical Portfolio, Neuroscience Portfolio, and Diabetes Operating Unit segments. On December 8, Medtronic plc (NYSE:MDT) declared a quarterly dividend of $0.68 per share, in line with previous. The dividend is payable on January 13, 2022 to shareholders of record on December 21. The dividend yield on December 19 came in at 3.55{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f}.
On November 30, Wells Fargo analyst Larry Biegelsen maintained an Equal Weight rating on Medtronic plc (NYSE:MDT) and trimmed the firm’s price target on the shares to $77 from $82. The analyst updated his 2024 and forward EPS forecast for Medtronic plc (NYSE:MDT), as he factored in the FX impact on EPS.
According to Insider Monkey’s third quarter database, 55 hedge funds were bullish on Medtronic plc (NYSE:MDT), compared to 54 funds in the earlier quarter. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the largest stakeholder of the company, with 7.16 million shares worth $578.30 million.
Like DexCom, Inc. (NASDAQ:DXCM), Intuitive Surgical, Inc. (NASDAQ:ISRG), and Danaher Corporation (NYSE:DHR), Medtronic plc (NYSE:MDT) is one of the best medical technology stocks to invest in.
Here is what Artisan Partners specifically said about Medtronic plc (NYSE:MDT) in its Q2 2022 investor letter:
“While Medtronic plc (NYSE:MDT)’s procedure volumes recovered to pre-COVID levels, foreign exchange headwinds overshadowed underlying business value growth, and supply chain issues, including those related to China’s lockdowns, impacted the surgical innovations business. The downdraft in the market during the quarter led to a pile-on. We are being patient with our investment in Medtronic because the company continues to be a strong free cash flow generator and is attractively priced, with a FCF yield of 5{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f} on trailing one-year numbers and a dividend yield of 3{08cd930984ace14b54ef017cfb82c397b10f0f7d5e03e6413ad93bb8e636217f}. Medtronic is under new management that is focused on growing the company’s top line, reinvesting in R&D, returning cash to shareholders and growing operating profits. We like new management’s strategy and believe new product launches, increased surgery visits, sound M&A transactions and a shareholder returns focus, should reinvigorate the business. We added to our positions in these health care names during the quarter.”
