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Weekly News, Analysis, and Commentary

Power Rankings

Power Rankings: February 20th, 2017

Robin Young's Entirely Subjective Ordering of Public Orthopedic Companies

This Week: The Fed is the new focus given that the Trump administration is still evolving and fiscal policy is uncertain. Fed minutes come out this week. Smart money says NO March rate hike while they wait to see what the Trump administration's fiscal plans are before it can change policy. Economic “Waiting for Godot”?

Rank Last Week Company TTM Op
Margin
30-Day Change
Comment
1
2
Medtronic
20.54%
4.24%
Pops to #1. Sales report due today (2/21) and we think MDT will continue to perform at the upper end of forecasts.
2
3
Orthofix
9.02
3.09
OFIX due to report Q4 performance on 2/28 and consensus is 30% earnings rise on just a 1% sales increase. That would be excellent.
3
1
Zimmer Biomet
23.86
1.21
We knew that ZBH would bounce right back after the Q3 dust up. This is an exceptionally well-organized and managed company. Still underpriced.
4
7
Integra LifeSciences
15.21
3.44
WOW. WOW. IART buys JNJ’s Codman’s business for $1 billion in cash. What does this mean for IART? Stay tuned.
5
4
Stryker
22.69
3.22
Pentagon awards SYK a $486 million contract for ortho products. Impressive.
6
6
Johnson & Johnson
27.98
3.63
Sells Codman to IART. Will it make a difference? We don’t think so. DePuy Synthes is moving in interesting directions.
7
5
Globus Medical
29.72
2.56
Will report Q4 results next week (2/27). Last year was about new products and doubling international presence. 2017’s goals?
8
8
Conmed
9.90
(0.98)
Missed the Q4 analyst earnings estimates. Valuation remains low. 4th least expensive ortho equity overall, but #8 on the OTW Power Rankings.
9
9
Smith & Nephew
18.40
0.23
Sales for 2016 were up 2% but earnings missed Wall Street’s expectations. Tough international business in China and Mideast.
10
10
Exactech
9.20
(8.71)
EXAC had a great year in 2016, and the final numbers are due this week (2/21). But the market wants to know how 2017 will roll.

Top Performers Last 30 Days

Company Symbol
Price
Mkt Cap
30-Day Chg
1 Pacira PCRX $43.70 $1,634 10.35%
2 RTI Biologics Inc RTIX $3.53 $206 10.16%
3 Wright Med Grp N.V WMGI $26.96 $2,785 8.27%
4 Nevro Corp NVRO $96.33 $2,771 8.09%
5 NuVasive NUVA $74.22 $3,755 5.70%
6 Medtronic MDT $78.88 $108,306 4.24%
7 Johnson & Johnson JNJ $118.86 $323,362 3.63%
8 Integra LifeSciences IART $44.16 $3,302 3.44%
9 Stryker SYK $126.34 $47,109 3.22%
10 Orthofix OFIX $37.31 $665 3.09%

Worst Performers Last 30 Days

Company Symbol
Price
Mkt Cap
30-Day Chg
1 Amedica Corp AMDA $0.42 $15 -33.70%
2 Xtant Medical Hldgs XTNT $0.41 $7 -21.04%
3 Alphatec Holdings ATEC $2.91 $26 -17.09%
4 Exactech EXAC $25.15 $357 -8.71%
5 SeaSpine Hldgs Corp SPNE $6.86 $77 -8.41%
6 CryoLife CRY $17.25 $569 -7.51%
7 Aurora Spine ASG $0.14 $4 -6.51%
8 K2M Group Hldgs KTWO $20.45 $863 -5.37%
9 TiGenix TIG.BR $0.74 $184 -1.49%
10 Conmed CNMD $43.50 $1,210 -0.98%

Lowest Price / Earnings Ratio (TTM)

Company Symbol
Price
Mkt Cap
P/E
1 Smith & Nephew SNN $30.44 $13,323 16.99
2 Globus Medical GMED $27.62 $2,646 17.61
3 Johnson & Johnson JNJ $118.86 $323,362 18.98
4 Exactech EXAC $25.15 $357 19.92
5 Medtronic MDT $78.88 $108,306 23.04

Highest Price / Earnings Ratio (TTM)

Company Symbol
Price
Mkt Cap
P/E
1 NuVasive NUVA $74.22 $3,755 93.55
2 MiMedx Group MDXG $8.29 $908 61.45
3 CryoLife CRY $17.25 $569 44.52
4 RTI Biologics Inc RTIX $3.53 $206 38.91
5 Integra LifeSciences IART $44.16 $3,302 37.32

Lowest P/E to Growth Ratio (Earnings Estimates)

Company Symbol
Price
Mkt Cap
PEG
1 CryoLife CRY $17.25 $569 1.48
2 Globus Medical GMED $27.62 $2,646 1.52
3 Orthofix OFIX $37.31 $665 1.74
4 Exactech EXAC $25.15 $357 1.95
5 Stryker SYK $126.34 $47,109 2.41

Highest P/E to Growth Ratio (Earnings Estimates)

Company Symbol
Price
Mkt Cap
PEG
1 NuVasive NUVA $74.22 $3,755 5.88
2 Conmed CNMD $43.50 $1,210 5.26
3 MiMedx Group MDXG $8.29 $908 4.10
4 Integra LifeSciences IART $44.16 $3,302 3.26
5 Johnson & Johnson JNJ $118.86 $323,362 3.21

Lowest Price to Sales Ratio (TTM)

Company Symbol
Price
Mkt Cap
PSR
1 Xtant Medical Hldgs XTNT $0.41 $7 0.12
2 Alphatec Holdings ATEC $2.91 $26 0.14
3 SeaSpine Hldgs Corp SPNE $6.86 $77 0.58
4 Aurora Spine ASG $0.14 $4 0.61
5 RTI Biologics Inc RTIX $3.53 $206 0.73

Highest Price to Sales Ratio (TTM)

Company Symbol
Price
Mkt Cap
PSR
1 TiGenix TIG.BR $0.74 $184 82.36
2 Nevro Corp NVRO $96.33 $2,771 39.81
3 Wright Med Grp N.V WMGI $26.96 $2,785 6.70
4 Pacira PCRX $43.70 $1,634 6.56
5 Globus Medical GMED $27.62 $2,646 4.86

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