MAKO Surgical and Urologix Hit New 52-Week Highs
While the DJIA and S&P 500 dropped on today's opening, medical device makers MAKO Surgical (NASDAQ: MAKO) and Urologix (NYSE: ULGX) have reached new multiyear highs of $38.13 and $1.22 per share, respectively.
MAKO Surgical reported last month that second-quarter revenue grew 81% year over year, due in part to strong sales of its robotic knee replacement device. It also secured exclusive rights to the Immersion (NASDAQ: IMMR) patent portfolio. MAKO Surgical markets advanced robotic arm solutions and orthopedic implants for orthopedic procedures. It has a market cap of $1.5 billion.
Per-share earnings are forecast to grow 20.0% over the next five years, which is higher than the industry average. Revenue for the current year is expected to be up 74.0%, as well as 65.5% higher the following year. The share price is more than 142% higher than at the beginning of the year, as well as up about about 50% in the past month. The stock has outperformed competitor Zimmer Holdings (NYSE: ZMH) year to date.
Urologix announced today that it has signed of an exclusive worldwide license for the Prostiva RF Therapy System from Medtronic (NYSE: MDT). And earlier this summer the company announced the hiring of a new sales and marketing VP. Minneapolis-based Urologix sports a market cap of $13.1 million and manufactures and markets minimally invasive medical products for the treatment of obstruction and symptoms due to enlarged prostate.
Shares were trading at less than a buck last week but are now more than 64% higher than six months ago. The share price is above the 200-day and 50-day moving averages, and the stock has outperformed larger competitors Boston Scientific (NYSE: BSX) and Medtronic year to date.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.