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Healthcare Stocks That Hit New Highs (SEM, GMED, TMO...)

uparow nov20 lt

The following are the healthcare stocks that hit a new 52-week high on Tuesday.

1. Select Medical Holdings Corporation (SEM) hit a new high of $21.53 in intraday trading on Tuesday, before closing at $21.35. The stock is up nearly 40% year-to-date.

Select Medical Holdings operates specialty hospitals, outpatient rehabilitation clinics, and occupational medicine centers.

Recent event: The company reported strong third-quarter results on October 31, 2019.

Net income in the third quarter increased to $44.0 million or $0.23 per share compared to $42.7 million or $0.24 per share for the same quarter, prior year. Adjusted earnings per share were $0.33 versus $0.23 for the corresponding quarter last year. Analysts were expecting earnings of only $0.21 per share.

Revenues rose to $1.39 billion from $1.27 billion for the year-ago quarter.

Looking forward to full year, Select Medical expects revenues to be in the range of $5.375 billion to $5.425 billion and adjusted earnings per share in the range of $1.07 to $1.13. Analysts foresee earnings of $1.11 per share on revenues of $5.41 billion for the period.

2. Globus Medical, Inc. (GMED) jumped to a new high of $56.35 in intraday trading on Tuesday, before closing at $55.80. The stock has gained nearly 30% year-to-date.

Globus Medical, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants for patients with spine disorders.

Recent event: The company reported strong third-quarter results on November 6, 2019, and raised full-year outlook.

Third-quarter net income was $38.31 million or $0.38 per share, an increase from $35.21 million or $0.35 per share in the same period last year. Adjusted EPS rose to $0.43 from $0.39 in the previous-year quarter. The analysts' earnings estimate was $0.42.

Sales for the third quarter were $196.2 million, an increase from $169.24 million in the third quarter of 2018.

For the full-year, the company increased its sales outlook to the range of $775 million to $783 million and adjusted EPS are expected at $1.72. The consensus estimate for earnings is at $1.72 per share and for revenue is at $784.19 million.

3. Thermo Fisher Scientific Inc. (TMO) recorded a new high of $307.02 in intraday trading on Tuesday, before closing at $306.42. The stock is up nearly 40% year-to-date.

Thermo Fisher Scientific is a biotechnology product development company.

Recent event: The company reported robust third-quarter results on October 23, 2019, and raised full-year outlook.

During the third quarter, Thermo Fisher Scientific added three new systems, listed as Class I medical devices with the FDA, to its portfolio of analytical instruments for clinical diagnostic laboratories.

Net income in the third quarter increased to $760 million or $1.88 per share from $709 million or $1.75 per share in the corresponding period last year. Adjusted EPS grew to $2.94 versus $2.62 in the last year quarter. Analysts had an earnings estimate of $2.87.

Third-quarter revenue increased to $6.27 billion from $5.92 billion in the same quarter a year ago.

Looking forward to full-year, the company raised its earnings and revenue outlook. Earnings are currently expected in the range of $$12.28 to $12.34 versus $12.16 to $12.26 guided earlier. Revenue outlook is increased to $25.34 to $25.50 billion from previous guidance of $25.30 to $25.50 billion. Analysts expect the company to report earnings of$12.32 per share on revenues of $25.49 billion for the full-year.

4. DaVita Inc. (DVA) hit a new high of $72.83 in intraday trading on Tuesday, before closing at $72.41. The stock jumped 40% year-to-date.

DaVita operates kidney dialysis centers and provides related lab services for patients suffering from chronic kidney failure or end-stage renal disease (ESRD).

Recent event: The company reported better-than-expected third-quarter results on November 5, 2019, and raised full-year adjusted earnings outlook.

Net income in the third quarter was $143 million or $0.95 per share compared with net loss of $137 million or $0.82 per share in the same quarter a year ago. Adjusted EPS from continuing operations rose to $1.53 from $0.56 last year. Analysts' estimates stood at $1.24.

Revenue in the third quarter grew to $2.904 billion from $2.847 billion in the last year quarter.

The company currently sees full-year adjusted EPS from continuing operations in the range of $5.25-$5.75, an increase from $5.00-$5.50, guided earlier. The consensus estimates is at $5.26.

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