Healthcare Stocks That Hit New Highs(MLSS, MDCO, CBPO...)

(RTTNews) - The following are the healthcare stocks that hit a new 52-week high on Wednesday.

Milestone Scientific, Inc. (MLSS) hit a new high of $1.22 in intraday trading on Wednesday, before closing at $1.13. The stock has soared nearly 242% year-to-date.   Milestone Scientific is a medical device company that develops and commercializes a portfolio of computerized drug instruments that provide painless and precise injections.

In August this year, the company signed a distribution agreement with Australia-based Paragon Care Limited to expand the availability of its CompuFlo Epidural System to anesthesiologists in Australia. Milestone Scientific 's CompuFlo epidural system CompuFlo is a device that helps anesthesiologists objectively identify the epidural space with 99% success on the first attempt.

Epidural anesthesia is used in one-third of the approximately 300,000 births in Australia each year.

Milestone had revenues of $2.26 million in the second quarter ended June 30, 2019, compared with $2.43 million in the year-ago quarter.

Analysts expect revenue of $1.82 million in the third quarter. Q3 results are expected on November 13.

The Medicines Company (MDCO) touched a new high of $54.68 in intraday trading on Wednesday, before closing at $54.59. The stock has jumped 185% year-to-date.   The company's lead product candidate is Inclisiran - a small interfering RNA (siRNA)- intended to lower low-density lipoprotein (LDL) cholesterol, also known as LDL-C or bad cholesterol.

Inclisiran has successfully completed three phase III studies, dubbed ORION-9, ORION-10, and ORION-11.

ORION-9 is a global phase III study that evaluated Inclisiran in heterozygous familial hypercholesterolemia (HeFH); ORION-10 is a U.S. phase III study that tested Inclisiran in atherosclerotic cardiovascular disease, and ORION-11 is a European phase III study that tested Inclisiran in atherosclerotic cardiovascular disease and risk equivalents.

The company is expected to make regulatory submissions for Inclisiran in the U.S. in the fourth quarter of 2019 and in Europe in the first quarter of 2020.

China Biologic Products Holdings, Inc. (CBPO) jumped to a new high of $116.63 in intraday trading on Wednesday, before closing at $115.97. The stock has grown nearly 53% year-to-date.   China Biologic engages in the research, development, manufacture, and commercialization of human plasma-based biopharmaceutical products.   The company has a strong product portfolio with solid pipeline products that are in the late stage of development.

Last month, the company received a preliminary non-binding "Going Private" proposal from a Buyer Group, seeking to acquire all of the outstanding ordinary shares of the Company, not already owned by them, for US$120 per share in cash. The Buyer Group includes Beachhead Holdings Limited, CITIC Capital China Partners IV, L.P., PW Medtech Group Limited, Parfield International Ltd., HH Sum-XXII Holdings Limited and V-Sciences Investments Pte. Ltd.

A special committee, formed by the Company's Board of Directors, is reviewing the "Going Private" proposal. China Biologic's total sales in the second quarter increased 12.7% to $135.7 million from $120.4 million in the same quarter last year. Adjusted earnings per share in the second quarter rose to $1.24 from $1.17 in the same quarter of 2018.

The third-quarter financial results are expected to be reported on October 30, 2019.   For the full year, the company sees a 4% to 6% increase in the adjusted EPS.

Envista Holdings Corporation (NVST) soared to a new high of $29.74 in intraday trading on Wednesday, before closing at $28.70.

The company's stock made its debut on the NYSE on September 18, 2019, at an opening price of $25.65.

Envista is a global dental products company that develops and provides a comprehensive portfolio of dental consumables, equipment, and services including innovative dental implants and treatment options, orthodontics, and digital imaging technologies.   Envista is comprised of three operating companies including KaVo Kerr, Nobel Biocare Systems, and Ormco with a proven track record that separated from Danaher corporation's dental segment in June this year.

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

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