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.
Naugatuck indigenous Daniel Remiszewski has opened the Northeast Healthcare Institute in Middlebury. The new faculty is built to help leap-sart well being treatment occupations. (Steve Bigham Republican-American)
MIDDLEBURY – A new put up-secondary university specializing in wellness treatment occupations has opened at 900 Straits Turnpike, following doorway to Article College.
The Northeast Clinical Institute presents hands-on certification training for nurse’s aides, phlebotomists and patient-care technicians.
Lessons get started in January.
“In the future 5 yrs, 1 in five men and women will be around the age of 65, so the have to have to fill these positions is now,” reported owner Daniel Remiszewski, 31, initially from Naugatuck, who mentioned he acknowledged the need to have for nurses and other similar occupations whilst a college student at Holy Cross High College in Waterbury.
“I went into actual physical and occupational treatment and then to nursing. I finished up doing my master’s in health care administration,” he stated, possessing attended Sacred Coronary heart College and then the University of New Haven.
Finding a closeup appear at ‘Beatrice,’ the mannequin utilized for teaching functions at the freshly opened Northeast Professional medical Institute in Middlebury, are, from left, Maryann Remiszewski, Samantha Neveski, Amy Wergin and Nellie Rossotto. (Steve Bigham Republican-American)
The college is accredited with the Division of General public Well being and Connecticut Business of Increased Training This is the fourth this kind of facility Remiszewski has opened in Connecticut given that 2018.
Remiszewski stated he receives phone calls everyday from businesses hunting to seek the services of. He says he can’t fill the positions speedy ample, specifically since the COVID-19 pandemic. A verify of the job-posting site Certainly demonstrates 2,700 licensed nursing assistant career openings in Connecticut.
“The need to have is crazy. You can come across a occupation the working day you start out college and you already have a career completely ready and waiting for you the day you go away university,” he stated.
The fascination was evident at a ribbon-slicing ceremony previously this month, when associates from a host of regional convalescent properties, rehab facilities and hospitals were being on hand to see the new faculty.
The classrooms fit as several as 10 pupils at a time who just take aspect in a hybrid program with aspect of the schooling, about 42 to 48 several hours, finished on the web.
“And then you’re coming into class which is lab. This is where they are going to understand the expertise and use the supplies,” Remiszewski explained. “Then they just take their screening in this article and then they’re off to apply for their point out certification. It’s 104 hours whole.”
Remiszewski mentioned there are very similar teaching programs all-around the condition, but none with such a condensed timeline.
“This is the only correct hybrid application in the condition. It is self-paced. The major edge is that people today can do the job all through the day and then arrive in for labs and proficient teaching at evening,” he claimed.
The ordinary age of learners is from 18 to 25, a lot of of them in search of to turn out to be CNAs or in have to have of that scientific knowledge before heading off to higher education.
“A good deal of our pupils are either going into school and they never know what they want to do or we have school learners that occur to us that have PA (medical professional assistant) and pre-med prerequisites. Health-related college students are required to go to a CNA university or a affected person treatment tech university, or they have to get their EMT. Which is the only way you can get it,” he stated.
Individuals need to be at the very least 16 to enroll in the CNA program and 18 for other individuals.
Tuition ranges from $1,500 for CNA and up to $4,000 for the a lot more state-of-the-art individual care tech degree. Starting up salaries in these fields begin in the $17 to $21 per hour variety.
Northeast Health care Institute is functioning with the Northwest Regional Workforce Investment decision Board to supply funding for people who are unable to find the money for the courses currently being offered.
For facts on how to signal up for lessons, connect with (203) 391-6766.
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
An Israeli medical center has announced a new pandemic exploration institute in partnership with the US government’s National Institutes of Well being.
The Sheba Health care Center in Ramat Gan stated in a assertion that the new institute will emphasis on investigate, as properly as operating to produce the instruments important to combat epidemics and pandemics in the future.
Scientists in Israel will operate specifically with their counterparts in the United States to immediately diagnose rising pathogens, allowing for them to predict the viral and bacterial threats of the long run.
The new partnership, to be named the Sheba Pandemic Research Institute (SPRI), was announced at a ceremony on Thursday.
“The establishment of the Sheba Pandemic Investigation Institute signifies a major milestone in our ongoing attempts to stop and beat future epidemics and pandemics,” said Prof. Gili Regev-Yochay, director of the Sheba Pandemic Study Institute & Infectious Disorders Unit.
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“Together with the NIH, we hope that the discovery of pathogens and infectious conditions can be translated into overall health results that not only strengthen but shield the lives of patients all over the world,” Regev-Yochay explained in a assertion.
Prof. Daniel Douek, main of the NIH’s Human Immunology Part, Vaccine Study Middle and newly appointed senior scientific adviser at SPRI, explained he considered the collaboration with the Israeli medical center could lead to breakthroughs in health care.
“The main of the National Institutes of Overall health and Vaccine Investigation Centre mission is the application of scientific and technological knowledge to layout and establish vaccines and biologics versus infectious health conditions,” Douek mentioned in a statement. “Together with Sheba, we can transform discovery into genuine health and fitness advancements.”

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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.
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.”
