5 MedTech stocks to explore as covid cases surge: VEEV to TDOC

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5 MedTech stocks to explore as covid cases surge: VEEV to TDOC

5 MedTech stocks to explore as covid cases surge: VEEV to TDOC
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Highlights:

  • Veeva Systems Inc. (NYSE: VEEV) revenue increased by 22% YoY in Q4, FY22.
  • DexCom, Inc. (NASDAQ: DXCM) will release its first-quarter fiscal 2022 financial results on April 28.
  • Illumina, Inc. (NASDAQ: ILMN) will release its first-quarter fiscal 2022 financial results on May 5.

The MedTech stocks could be worth exploring as covid cases increase again. Authorities have clamped new restrictions on various affected regions.

According to a Bloomberg report, in 2021, the digital healthcare sector attracted investments of US$29 billion, around double the amount from the previous year.

The following are five MedTech stocks to watch in the coming quarters.

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Veeva Systems Inc. (NYSE: VEEV)

Veeva Systems is a cloud-computing firm that focuses on applications in the pharmaceutical and life sciences sector. It is based in Pleasanton, California.

The shares of the company traded at US$198.35 at 11:30 am ET on April 19, up 5.43% from their closing price of April 18. Its stock value decreased by 26.6% YTD.

The firm has a market cap of US$30.38 billion, a P/E ratio of 74.85, and a forward one-year P/E ratio of 68.17. Its EPS is US$2.63.

The 52-week highest and lowest stock prices were US$343.96 and US$166.48, respectively. Its trading volume was 574,972 on April 18.

The company's total revenue surged 22% YoY to US$485.5 million in Q4, FY22, while its net income came in at US$97.09 million, or US$0.60 per diluted share. For fiscal 2022, its total revenue surged 26% YoY to US$1.85 billion.

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Top Medtech stocks to explore in Q2Source: ©2022 Kalkine Media®

 

DexCom, Inc. (NASDAQ: DXCM)

DexCom is a medical device firm focused on designing, developing, and commercializing continuous glucose monitoring (CGM) solutions for diabetes management. It is based in San Diego, California.

The stock of the company traded at US$495.99 at 11:31 am ET on April 19, up 3.20% from its previous closing price. The DXCM stock fell 7.71% YTD.

The market cap of the company is US$48.50 billion, the P/E ratio is 318.93, and the forward one-year P/E ratio is 141.78. Its EPS is US$1.55.

The stock saw the highest price of US$659.45 and the lowest price of US$318.45 in the last 52 weeks. Its share volume on April 18 was 335,966.

The company will release its first-quarter fiscal 2022 financial results on April 28, after the market close.

Meanwhile, in the fourth quarter of fiscal 2021, the company's revenue increased by 23% YoY to US$698.2 million, while its net loss was US$19.4 million. For fiscal 2021, its revenue surged 27% YoY to US$2.45 billion.

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Abiomed, Inc. (NASDAQ: ABMD)

Abiomed is a medical devices firm engaged in developing and manufacturing external and implantable circulatory support devices. It is based in Danvers, Massachusetts.

The shares of the company traded at US$321.35 at 11:33 am ET on April 19, up 6.58% from their closing price of April 18. Its stock value declined 17.69% YTD.

The firm has a market cap of US$14.61 billion, a P/E ratio of 111.08, and a forward one-year P/E ratio of 69.15. Its EPS is US$2.89.

The 52-week highest and lowest stock prices were US$379.30 and US$261.27, respectively. Its trading volume was 196,882 on April 18.

The company will report its fourth-quarter fiscal 2022 financial results on April 28, before the opening bell.

Meanwhile, in Q3, FY22, its revenue was up 13% YoY to US$261 million, while its net income came in at US$45.75 million.

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Teladoc Health, Inc. (NYSE: TDOC)

Teladoc Health is a telemedicine and virtual healthcare firm based in Purchase, New York. It provides telehealth, AI, analytics, and licensable platform solutions.

The stock of the company traded at US$65.39 at 11:34 am ET on April 19, up 5.45% from its previous closing price. The TDOC stock plunged 34.78% YTD.

The market cap of the company is US$10.46 billion, and the forward one-year P/E ratio is -38.52. Its EPS is US$-2.77.

The stock saw the highest price of US$192.11 and the lowest price of US$50.08 in the last 52 weeks. Its share volume on April 18 was 3,353,779.

The company will report its first-quarter fiscal 2022 results on April 27, after the closing bell.

In Q4, FY21, its revenue surged 45% YoY to US$554.2 million, and its net loss was US$10.98 million. For full fiscal 2021, its revenue jumped 86% YoY to US$2.03 billion.

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Medtech stocks: VEEV, DXCM, ABMD, TDOC, ILMN,

Illumina, Inc. (NASDAQ: ILMN)

Illumina is a biotechnology firm focused on developing, manufacturing, and commercializing integrated solutions for analyzing genetic variation and biological functions. The company is based in San Diego, California.

The shares of the company traded at US$339.00 at 11:36 am ET on April 19, up 0.94% from their closing price of April 18. Its stock value tumbled 11.82% YTD.

The firm has a market cap of US$52.80 billion, a P/E ratio of 66.56, and a forward one-year P/E ratio of 81.12. Its EPS is US$5.05.

The 52-week highest and lowest stock prices were US$526.00 and US$302.79, respectively. Its trading volume was 564,955 on April 18.

The company will release its first-quarter fiscal 2022 financial results on May 5, after the market close.

In Q4, FY21, its revenue soared 26% YoY to US$1.19 billion, and its net income was US$112 million. For fiscal 2021, its revenue was US$4.52 billion.

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Bottom line:

The S&P 500 healthcare sector declined 2.81% YTD while gaining 12.89% over the past 12 months. Experts see strong growth potential in the industry, although the digital health segment has slowed down a bit this year. However, as the stock market is volatile, investors should closely evaluate the companies before spending on stocks.

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