Power Rankings – September 22nd, 2025

Robin Young’s Entirely Subjective Ordering of Public Orthopedic Companies

This Week: Markets are waiting for this Friday’s consumer spending report — the Fed’s favorite inflation gauge. A soft read likely means another 250 basis point rate cut. Newly minted governor Stephen Miran makes his policy debut (on Monday) with Fed Chair Powell following (on Tuesday). Trump’s fresh $100,000 H1-B visa fee hits tech AND financial companies hard. Microsoft and Goldman were scrambling this weekend — sending urgent emails to its knowledge staff. What’s the fear? U.S. brain drain. I repeat, having fun yet? Ortho stocks holding up well.

Rank	Last Week	Company	TTM Op Margin	30-Day Change	Comment
1	2	Pacira BioSciences	4.63%	6.68%	Up to #1 this week. New CMS policy expanding coverage into ASCs puts serious wind in EXPAREL’s sails. PCRX the 2nd cheapest (after IART) equity in ortho.
2	3	Enovis	2.41	7.87	Enovis EVP of strategy and business development, Daniel Pryor, increases holdings 9.3%. Does he know something? Yes, he does. #2 this week.
3	1	Smith & Nephew	11.30	(1.50)	Down a couple spots this week on the basis of higher valuation (we buy low) and a slight weakness in buying interest. All else, like fundamentals, strong.
4	5	Globus Medical	17.33	(7.94)	When Wall Street zigs, we think zag — especially with respect to the #1 wealth producing company in ortho. GMED. The cheaper it gets, the more attractive it looks.
5	7	Axogen	(3.42)	10.54	Axogen was the TOP performing ortho stock over the last 30 days. Why? Because it is driving regenerative medicine in a high impact ortho sector. Nerve regeneration.
6	4	Zimmer Biomet	15.31	(5.32)	Despite higher sales and profit guidance for 2025, investors are skeptical. Too many near term volatile externalities like tariffs and a slowing economy.
7	6	Orthofix	(8.25)	1.24	The 8th cheapest ortho equity with the 9th best stock performance, OFIX earns a #7 ranking in this week’s Power Rankings.
8	9	Integra Lifesciences	7.86	(0.91)	Dr. Raymond Turner is IART’s new chief medical officer. He’s held similar postitions are Siemens and JNJ. Former neuroscience chief at Medical Univ of South Carolina.
9	8	Johnson & Johnson	28.31	(1.48)	Investors have pushed JNJ’s valuation higher and it’s now #10 in ortho. Interestingly, stock performance is also 10th best. So rank this week is…#9.
10	NR	Xtant	13.06	6.19	Happy to see our favorite ortho penny stock back on the Rankings. Yes, at #10. But: note that operating profit margin is now up to 13%. Excellent by any measure.

Top Performers Last 30 Days

	Company	Symbol	Price	Mkt Cap	30-Day Chg
1	SINTX Technologies	SINT	$4.93	$14	48.49%
2	Aclarion	ACON	$9.40	$5	33.33%
3	Carlsmed	CARL	$14.15	$376	17.23%
4	AxoGen	AXGN	$17.20	$791	10.54%
5	ENOVIS	ENOV	$32.36	$1,850	7.87%
6	Pacira BioSciences	PCRX	$26.66	$1,198	6.68%
7	Anika Therapeutics	ANIK	$8.90	$128	6.33%
8	Xtant Medical Hldgs	XTNT	$0.65	$91	6.19%
9	Aurora Spine	ASG.V	$0.22	$17	5.97%
10	MicroPort Scientific	0853.HK	$1.71	$3,255	2.16%

Worst Performers Last 30 Days

	Company	Symbol	Price	Mkt Cap	30-Day Chg
1	Kuros Biosciences	KURN:SW	$29.32	$1,132	-14.09%
2	Globus Medical	GMED	$55.91	$7,551	-7.94%
3	ConMed	CNMD	$50.01	$1,548	-6.45%
4	SI-BONE, Inc	SIBN	$14.60	$630	-6.05%
5	Dynatronics Corp	DYNT	$0.09	$1	-5.56%
6	Zimmer Biomet	ZBH	$100.09	$19,827	-5.32%
7	Bioventus	BVS	$6.93	$573	-3.88%
8	Stryker	SYK	$376.83	$144,065	-3.84%
9	Alphatec Holdings	ATEC	$15.54	$2,300	-2.20%
10	OrthoPediatrics Corp	KIDS	$19.18	$481	-1.54%

Lowest Price / Earnings Ratio (TTM)

	Company	Symbol	Price	Mkt Cap	P/E
1	ConMed	CNMD	$50.01	$1,548	15.07
2	Zimmer Biomet	ZBH	$100.09	$19,827	19.74
3	Johnson & Johnson	JNJ	$176.19	$424,325	21.09
4	Medtronic	MDT	$95.08	$121,958	21.78
5	Globus Medical	GMED	$55.91	$7,551	26.87

Highest Price / Earnings Ratio (TTM)

	Company	Symbol	Price	Mkt Cap	P/E
1	Smith & Nephew	SNN	$36.85	$15,944	38.70
2	Medacta	MOVE	$193.78	$3,876	37.42
3	Stryker	SYK	$376.83	$144,065	32.87
4	Pacira BioSciences	PCRX	$26.66	$1,198	30.37
5	Globus Medical	GMED	$55.91	$7,551	26.87

Lowest P/E to Growth Ratio (Earnings Estimates)

	Company	Symbol	Price	Mkt Cap	PEG
1	Medacta	MOVE	$193.78	$3,876	1.34
2	Smith & Nephew	SNN	$36.85	$15,944	2.13
3	ConMed	CNMD	$50.01	$1,548	2.28
4	Globus Medical	GMED	$55.91	$7,551	2.36
5	Pacira BioSciences	PCRX	$26.66	$1,198	2.81

Highest P/E to Growth Ratio (Earnings Estimates)

	Company	Symbol	Price	Mkt Cap	PEG
1	Medtronic	MDT	$95.08	$121,958	3.20
2	Stryker	SYK	$376.83	$144,065	3.19
3	Johnson & Johnson	JNJ	$176.19	$424,325	2.93
4	Pacira BioSciences	PCRX	$26.66	$1,198	2.81
5	Globus Medical	GMED	$55.91	$7,551	2.36

Lowest Price to Sales Ratio (TTM)

	Company	Symbol	Price	Mkt Cap	PSR
1	Dynatronics Corp	DYNT	$0.09	$1	0.03
2	Integra LifeSciences	IART	$14.13	$1,101	0.68
3	Aurora Spine	ASG.V	$0.22	$17	0.70
4	Orthofix	OFIX	$14.71	$581	0.73
5	Xtant Medical Hldgs	XTNT	$0.65	$91	0.78

Highest Price to Sales Ratio (TTM)

	Company	Symbol	Price	Mkt Cap	PSR
1	Aclarion	ACON	$9.40	$5	119.72
2	Carlsmed	CARL	$14.15	$376	13.85
3	Kuros Biosciences	KURN:SW	$29.32	$1,132	13.19
4	Medacta	MOVE	$193.78	$3,876	6.56
5	Stryker	SYK	$376.83	$144,065	6.38

PSR: Aggregate current market capitalization divided by aggregate sales and the calculation excluded the companies for which sales figures are not available.