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Summary
- NeuroMetrix jumped up to 240 percent, while HCA Healthcare surged up to 15 percent.
- NeuroMetrix’s wearable nerve stimulation device Quell got the FDA’s breakthrough designation.
- HCA Healthcare raised its 2021 revenue and earnings outlook after reporting Q2 results.
Stocks of NeuroMetrix, Inc. (NASDAQ:NURO) and HCA Healthcare, Inc. (NYSE:HCA) rallied up to 240 percent and 15 percent respectively and hit a 52-week high on Tuesday’s trading.
NeuroMetrix shares jumped after the company said its nerve stimulation device got breakthrough therapy designation for treating fibromyalgia pain, while HCA Healthcare stock surged after the company raised its 2021 revenue and earnings outlook after reporting second-quarter results.
NeuroMetrix (NURO)
On Tuesday, medical device company NeuroMetrix said it wearable nerve stimulation device Quell secured the U.S. Food and Drug Administration’s breakthrough therapy designation for treating fibromyalgia pain.
The use of Quell for fibromyalgia is investigational. It is yet to get approval from the FDA. With this breakthrough designation, NeuroMetrix will get priority review and communication from the FDA on the device development through commercialization.
The Massachusetts-based company noted that it is giving forward with a regulatory filing, which could help it to launch the device in the second half of 2021.
NeuroMetrix currently has a market cap of US$41 million. Its stock is up 162 percent year to date. The share price was as low as US$1.39 and rallied to US$11.24 in the last one year.
As of 2:29 pm ET, NeuroMetrix shares were trading at US$8.51, 161.04 percent.
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Source: Pixabay
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HCA Healthcare (HCA)
The Tennessee-based company now expects its 2021 revenues to come in between US$$57 billion and US$58 billion, while net earnings is projected in the range of US$16.30 to US$17.10 per share.
Previously, HCA Healthcare forecasted 2021 revenue in the range of US$54 billion to US$55.5 billion and EPS was anticipated to be between US$13.30 and US$14.30 per share.
In the second quarter ended June 30, HCA Healthcare saw its revenues climb to US$14.44 billion from US$11.07 billion in the same quarter the previous year.
Net income attributable to HCA Healthcare came in at US$1.45 billion, or US$4.36 per share, compared with US$1.079 billion, or US$3.16 per share, in the year-ago quarter.
The company noted that it operated 187 hospitals at end of the second quarter.
HCA Healthcare’s market cap totals US$82.3 billion. It has a P/E ratio of 16.27. HCA stock returned 51.62 percent year to date. Its shares traded in the range of US$106.20 and US$251.93 during the last 52 weeks.
As of 2:29 pm ET, HCA Healthcare shares were trading at US$249.10, up 14.46 percent.
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Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
The reference data in this article has been partly sourced from Refinitiv.
