One company that should be on your radar is PhotoMedex, Inc. ( PHMD ). The stock of this medical company has seen its Zacks Rank surge over the past four weeks, moving from Strong Sell territory to its current position as a Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For PHMD's full year estimate, we have seen 1 estimate go higher in the past 30 days, compared to no downward revision. This trend has helped the consensus estimate to trend higher, going from 97 cents a share a month ago to its current level at $1.04.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, PHMD has seen some pretty solid trading lately, as the company has moved higher by 22.1% in the past month.
If PhotoMedex can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put PHMD on your watch list for the future.
Other top-ranked stocks worth considering in this space include The Spectranetics Corporation
), Advaxis, Inc.
), and Natus Medical Inc.
). All these carry a Zacks Rank #1 (Strong Buy).
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