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Weekly News, Analysis, and Commentary

Power Rankings

Power Rankings: February 19th, 2018

Robin Young's Entirely Subjective Ordering of Public Orthopedic Companies

This Week: This market acts like the dogs in the movie "Up." Squirrel! The squirrel this week is earnings prospects—which have a sugar high from U.S. tax cuts. Inflation fears, however, are lurking in the shadows. If treasury yield rises to 3% or more, watch for a raging Bear. The CBOE volatility index spiked last week. An increasingly volatile equity market is especially tough on emerging growth technology stocks. In such markets cash is king and large, cash heavy companies rule.

Rank Last Week Company TTM Op
Margin
30-Day Change
Comment
1
1 Integra LifeSciences 15.60% 4.54% Integra to report 2017 sales results in about a week (Feb 27). The stock is trading as if good news is on the way. 
2
3 ConMed 8.57 9.39 CNMD's 2017 report, which showed a resurging ortho business, prompted analysts to predict that CNMD will grow sales by single digits, but earnings by double digits in 2018.
3
4 Stryker 22.38 (0.25) Stryker's experience purchasing French company VEXIM is a cautionary tale. Had to buy stock on the open market in order to squeeze out the 5% remaining minority shareholders.
4
5 Johnson & Johnson 25.13 (9.41) The Academy annual meeting is just a couple weeks away. Expect to see interesting new products and presentations which reflect broader JNJ influence in DePuy Synthes.
5
6 NuVasive 11.57 (4.41) NUVA is working to get its footing post Lukianov/Valentine/Miles.  While management is taking steps to do that, at the end of the day, if investors don't return, then a corporate buyer might.  
6
7 Medtronic 21.05 (3.25) Most people don't realize the MDT has a hip and knee product line. Wonder if we'll see it at AAOS. Fingers crossed.
7
2 Smith & Nephew 19.53 4.00 For 2017, SNN reported that sales of joint reconstruction products rose 3% with knee products leading the way at 5% increase. Arthroscopy sales, however, fell 3%.
8
8 Zimmer Biomet 22.28 (1.64) This will be Bryan Hanson's first Academy meeting as CEO of a major, integrated orthopedic company. Lots of surgeons will want to meet him and take his measure.
9
9 Orthofix 8.01 1.75 Really interesting new rotator cuff study announced. OFIX will be testing pulsed electromagnetic field technology for rotator cuff repair.  
10
10 RTI Surgical 0.63 4.49 RTI to report 2017 results on March 1st. Analysts are expecting to see a 2.3% decline in sales, BUT a nice increase in earning to about $0.03 per share.

Top Performers Last 30 Days

Company Symbol
Price
Mkt Cap
30-Day Chg
1 Aurora Spine  ASG.V $0.12 $5 30.63%
2 Globus Medical GMED $48.22 $4,647 11.41%
3 Conmed CNMD $61.27 $1,712 9.39%
4 Integra LifeSciences  IART $52.26 $4,101 4.54%
5 RTI Biologics Inc RTIX $4.65 $283 4.49%
6 Smith & Nephew SNN $36.38 $15,916 4.00%
7 Xtant Medical Hldgs XTNT $6.55 $11 3.22%
8 Nevro Corp NVRO $80.10 $2,373 2.84%
9 MiMedx Group MDXG $14.47 $1,607 2.70%
10 TiGenix  TIG.BR $2.16 $640 2.61%

Worst Performers Last 30 Days

Company Symbol
Price
Mkt Cap
30-Day Chg
1 Amedica Corp AMDA $2.22 $7 -35.65%
2 Pacira PCRX $30.15 $1,223 -25.19%
3 Lattice Biologics LBL.V $0.06 $6 -12.72%
4 Wright Med Grp N.V WMGI $20.06 $2,120 -11.63%
5 MicroPort Scientific 853 $1.02 $1,487 -10.99%
6 Johnson & Johnson JNJ $133.15 $357,710 -9.41%
7 Alphatec Holdings ATEC $3.25 $54 -7.93%
8 K2M Group Hldgs KTWO $19.33 $838 -6.57%
9 SeaSpine Hldgs Corp SPNE $9.92 $133 -4.62%
10 NuVasive NUVA $48.21 $2,457 -4.14%

Lowest Price / Earnings Ratio (TTM)

Company Symbol
Price
Mkt Cap
P/E
1 Johnson & Johnson JNJ $133.15 $357,710 20.70
2 Smith & Nephew SNN $36.38 $15,916 20.75
3 Zimmer Biomet ZBH $120.48 $24,394 21.21
4 Medtronic MDT $83.31 $112,760 23.27
5 Stryker SYK $159.87 $59,894 27.47

Highest Price / Earnings Ratio (TTM)

Company Symbol
Price
Mkt Cap
P/E
1 Orthofix OFIX $53.93 $983 115.04
2 MicroPort Scientific 853 $1.02 $1,487 105.14
3 MiMedx Group MDXG $14.47 $1,607 73.27
4 Exactech EXAC $49.25 $710 48.69
5 NuVasive NUVA $48.21 $2,457 47.62

Lowest P/E to Growth Ratio (Earnings Estimates)

Company Symbol
Price
Mkt Cap
PEG
1 MicroPort Scientific 853 $1.02 $1,487 1.53
2 CryoLife CRY $18.25 $660 1.53
3 Johnson & Johnson JNJ $133.15 $357,710 2.66
4 Stryker SYK $159.87 $59,894 2.76
5 Integra LifeSciences  IART $52.26 $4,101 2.78

Highest P/E to Growth Ratio (Earnings Estimates)

Company Symbol
Price
Mkt Cap
PEG
1 Orthofix OFIX $53.93 $983 11.39
2 Exactech EXAC $49.25 $710 5.07
3 MiMedx Group MDXG $14.47 $1,607 4.88
4 Smith & Nephew SNN $36.38 $15,916 3.92
5 Zimmer Biomet ZBH $120.48 $24,394 3.40

Lowest Price to Sales Ratio (TTM)

Company Symbol
Price
Mkt Cap
PSR
1 Xtant Medical Hldgs XTNT $6.55 $11 0.12
2 Amedica Corp AMDA $2.22 $7 0.44
3 Alphatec Holdings ATEC $3.25 $54 0.45
4 Aurora Spine  ASG.V $0.12 $5 0.52
5 SeaSpine Hldgs Corp SPNE $9.92 $133 1.03

Highest Price to Sales Ratio (TTM)

Company Symbol
Price
Mkt Cap
PSR
1 TiGenix  TIG.BR $2.16 $640 23.90
2 Nevro Corp NVRO $80.10 $2,373 10.39
3 Globus Medical GMED $48.22 $4,647 8.24
4 MiMedx Group MDXG $14.47 $1,607 6.56
5 Stryker SYK $159.87 $59,894 4.81

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