On Mar 11, we have updated our research report on
Mindray Medical International Limited
). MR continued to see strong international sales, while the
domestic market is expected to show gradual improvement in the
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MINDRAY MEDICAL (MR): Free Stock Analysis
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MR delivered positive earnings surprise in each of the last four
quarters, with an average beat of 18.5%. The company posted an
18.4% rise in adjusted earnings per share to 58 cents for the
fourth quarter of 2013 and topped the Zacks Consensus Estimate by
8 cents per share.
Net revenue grew 16.5% to $368.4 million, lying above the Zacks
Consensus Estimate of $348.0 million. International revenues grew
23.8% to $208.0 million while revenues from China grew at a
slower pace of 8.3% to $160.4 million due to delays in purchasing
MR expects 2014 net revenues to grow at least 15% over 2013 based
on strengths in Western Europe and some emerging markets as well
as gradual improvement in China.
New products contribute in a major way to Mindray's revenues.
Further, the company has the largest customer support and service
team for medical devices in China. This enables MR to provide
technical support, training, warranty, maintenance and repair
services to end users as well as distributor support.
Currently, MR retains a Zacks Rank #2 (Buy).
Other Stocks to Pick
Other players in the medical instruments sector that are
currently worth a look include
Natus Medical Inc.
Syneron Medical Ltd.
). All of them sport a Zacks Rank #1 (Strong Buy).