The medical technology space for the most part benefited throughout 2017 and heading into 2018 some Wall Street analysts remain bullish.
JPMorgan's Michael Weinstein.
2017 was a positive year for the MedTech space and was able to overcome multiple challenges, including tough comparisons, a disruption in terms of manufacturing and demand from hurricanes, and a rising interest rates, Weinstein said in a note. But looking towards 2018, the industry-wide fundamentals are strong and sector revenue growth could re-accelerate from 4.4 percent last year to 5.1 percent in the new year.
Specifically, 2018 will be favorable for the group due to the release of new products, an economic backdrop that is "as good as it gets" with consumer confidence at a 17-year high and unemployment at a 10-year low, and tax reform and forced repatriation could create a new round of buybacks and M&A.
Here is a summary of the firm's top picks and pans.
- Top large-cap picks: 1) Baxter International Inc BAX, 2) Zimmer Biomet Holdings Inc ZBH
- Top small-cap picks: 1) Intersect ENT Inc XENT, 2) Irhythm Technologies Inc IRTC
- Names with Underweight ratings: Accuray Incorporated ARAY, ConforMIS Inc CFMS, Endologix, Inc. ELGX
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.