Medical devices are in demand
Each day when I screen on Barchart for the stocks that are hitting new highs the symbol MEND - Micrus Endovascular keeps coming up. When I sort for frequency this stock had 14 price advances in the last 20 trading sessions and had 4 in the most recent 5 days. It has enjoyed a 31.51% price increase in the last month. Barchart's 13 technical indicators hit a buy signal on all 13 indicators for a 100% buy rating
Micrus Endovascular Corporation is a medical device company that develops, manufactures and markets implantable and disposable medical devices used in the treatment of cerebral vascular diseases.
Zack recently upgraded this company to a buy and other analysts agree. 11 analysts have increased their earning per share estimates in just the last 7 day. The consensus is for a 14.2% growth in sales and a 7.0 growth in EPS. The 5 year compounded EPS growth is estimated at 32.2%. Wall Street has 11 buy recommendations out with only 2 holds.
Other sites agree -- Motley Fool members think the stock will out perform the market by a vote of 72 to 4 with the All Stars in agreement 19 to 2. The Wall Street columnists Fool follows like the stock 16 to 0.
What more could you want in a stock:
1 - Recent upgrade by Zacks
2- Price appreciation in more than 50% of the recent trading sessions
3- All 13 of Barchart's technical indicators signal buy
4 - Other site like Motley Fool have over whelming interest
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email JimVanMeerten@gmail.com
Disclosure: no positions at the time of publication