Wednesday, February 17, 2010

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

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