These big medtech names performed the best in early 2017


[Image from Unsplash]

Other top performers

Integer Holdings: +37%

Formerly called Greatbatch, the major medical device contract manufacturer has enjoyed steady strong growth of its stock price, which was up nearly 37% during the first 3 months of 2017.  The company has enjoyed solid performance after completing a reorganization last year that resulted from its Lake Region Medical acquisition and spin-off of Nuvectra.

Zimmer Biomet: +18%

Orthopedic device giant Zimmer Biomet managed to achieve about 18% growth in its stock price during the first 3 months of 2017. The company in January announced that it had surpassed consensus forecasts for both its 4th-quarter and full-year 2016 results, even as it saw a  –50% profit slide for the 4th quarter. “Our performance was driven, in part, by the re-acceleration of our knee and hip businesses, as well as the ongoing strength of our [sports, extremities & trauma] category and Asia-Pacific region,” president & CEO David Dvorak said at the time. Zimmer Biomet is also getting into the robotic surgery business, with plans to launch a robot-assisted surgery platform for total knee procedureslate next year.

Medtronic: +13%

The medical device giant’s stock was up more than 13% during the first 3 months of 2017. For its 3rd quarter, which ended Jan. 27, Medtronic beat the analyst consensus forecast, even as it saw a –25% profit slide. The company’s diabetes division – its smallest division – grew the most during the third quarter, up 5.7%, to $501 million. The diabetes division could grow even more: Medtronic leads the pack when it comes to developing an artificial pancreas.

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