{IMAGERIGHT:http://www.massdevice.com/sites/default/wp-content/uploads/headshots/Index_090512.jpg}Our Weekly Checkup takes the temperature of the 63 public medical device companies in the MassDevice Index. The index is weighted according to market capitalization, based on the number of shares outstanding for each company from its most recent quarterly report and each Friday’s closing share price.
The index for the week ended May 8 closed with a reading of 5.74, up more than 7 percent compared with the prior week. In fact, with the exception of the week ended April 24 (which saw a 3.4 percent drop), the index has posted gains ranging from 1.9 percent to 7.7 percent since we began tracking these companies in late March. For the five weeks from April 3 through May 8, the index gained 18 percent.
The Weekly Checkup also compares Monday morning’s opening share prices with their value when the markets close Friday afternoon to calculate the biggest gainers and losers.
Here are the ten firms that posted the biggest share price gains and losses during the week ended May 8:
The five biggest gainers:
- Acusphere Inc. +76.9% (open $0.13; close $0.23)
- Orthofix International NV +29.0% (open $17.29; close $22.31)
- Candela Corp. +19.8% (open $0.96; close $1.15)
- Biopure Corp. +19.0% (open $0.21; close $0.25)
- Palomar Medical Technologies Inc. +16.8% (open $9.01; close $10.52)
And the five biggest losers:
- Viking Medical Systems Inc. -50.0% (open $0.04; close $0.02)
- Hologic Inc. -20.5% (open $15.27; close $12.14)
- Brooks Automation Inc. -17.3% (open $6.13; close $5.07)
- Harvard Bioscience, Inc. -12.5% (open $3.28; close $2.87)
- Osmetech -11.9% (open $3.12; close $2.75)
The checkup also takes a look at a different financial metric each week, ranking local players based their performance in that category.
This week we’re looking at current assets, which is the value of assets that can be converted into cash within one year. It includes, of course, cash, but also accounts receivable and inventories. It’s an important measure because companies use these assets to fund their day-to-day operations and pay ongoing expenses.
Here are the top 20 public medical device companies in Massachusetts, ranked by current assets as of the end of 2008:
- Boston Scientific Corp.: $5.5 billion
- Covidien: $5.3 billion
- Thermo Fisher Scientific Inc.: $4.4 billion
- Waters Corp.: $960 million
- PerkinElmer Inc.; $831 million
- Inverness Medical Innovations Inc.: $823 million
- Bruker Corp.: $821 million
- Plexus Corp.: $787 million
- Millipore Corp.: $752 million
- Hologic Inc.: $694 million
- Charles River Laboratories International Inc.: $618 million
- Haemonetics Corp.: $359 million
- Brooks Automation Inc.: $339 million
- Orthofix International N.V.: $275 million
- Zoll Medical Corp.: $227 million
- Palomar Medical Technologies Inc.: $153 million
- Cynosure Inc.: $141 million
- Athenahealth Inc.: $122 million
- Candela Corp.: $119 million
- Aspect Medical Systems Inc.: $107 million
Source: Mergent Inc.
Disclaimer: MassDevice.com’s rankings do not reflect an opinion of companies’ health, prospects or viability. They are intended to provide a snapshot of publicly traded medical device companies and in no way constitute a recommendation to buy or sell any particular security, portfolio of securities, transaction or investment strategy.