Mindray Medical Sees Continued International Growth - Analyst Blog

By
A A A

On Mar 11, we have updated our research report on Mindray Medical International Limited ( MR ). MR continued to see strong international sales, while the domestic market is expected to show gradual improvement in the near future.

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 activities.

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 Cynosure Inc. ( CYNO ), Natus Medical Inc. ( BABY ), and Syneron Medical Ltd. ( ELOS ). All of them sport a Zacks Rank #1 (Strong Buy).



NATUS MEDICAL (BABY): Free Stock Analysis Report

CYNOSURE INC-A (CYNO): Free Stock Analysis Report

SYNERON MED LTD (ELOS): Free Stock Analysis Report

MINDRAY MEDICAL (MR): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: BABY , CYNO , ELOS , MR

Zacks.com

Zacks.com

More from Zacks.com:

Related Videos

Stocks

Referenced

Most Active by Volume

65,878,391
  • $102.25 ▲ 0.12%
60,267,006
  • $16.01 ▼ 1.17%
45,656,511
  • $13.11 ▼ 4.17%
34,766,553
  • $49.43 ▲ 2.85%
34,661,727
  • $3.60 ▲ 0.28%
29,041,259
  • $19.12 ▼ 0.47%
21,343,464
  • $73.855 ▼ 1.04%
19,552,720
  • $10.85 ▼ 3.13%
As of 8/28/2014, 04:03 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com