Wearable medical devices and the integration of artificial intelligence into medical technology are two big trends in this life science sector. Moving forward, the size of the global medical device industry is expected to grow from US$455.34 billion in 2021 to US$657.98 billion by 2028.”
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Wearable Health Solutions (OTCMKTS:WHSI) is a medical device company that has more operational upside then your average sub-penny stock. Its 4G iHelp MAX is slated for release this year and will help improve its already impressive subscription base. But, its feature programing on upcoming Kathy Ireland shows could be a force multiplier. That’s why you should put WHSI on your watchlist today.
Masimo Corporation (NASDAQ:MASI) stock has seen witnessing solid recovery after the recent sharp fall. The stock has slumped 24% so far this year. On Monday, MAT stock was down 2.80% to $224.59 with more than 377K shares exchanged hands, above its average volume of 330K shares. The company announced a major expansion of Masimo SafetyNet® that brings robust, secure video conferencing to the remote patient management and connectivity platform to offer a comprehensive telehealth and telemonitoring solution.
iRhythm Technologies Inc. (NASDAQ:IRTC) is another stock in the Medical Device sector which has been consolidating the gaining momentum recently. The stock has moved up 16% over the past one quarter. Moreover, the stock has jumped 171% over the past 6-month. The stock is trading above 196% from its 52-week low and 30% away from its 52-week high. The company is all set to report fourth quarter and full year 2021 after the close of trading on Wednesday, February 23, 2022. The company’s management team will host a corresponding conference call beginning at 1:30 p.m. PT / 4:30 p.m. ET.
NeuroMetrix Inc. (NASDAQ:NURO) stock has been moving higher in the past week after intermediate fall. CNHI stock ended higher by 7% to $4.89 with more than 2.04 million shares exchanged hands, above its average volume of 1.41 million shares. The stock is trading above 89% from its 52-week low and 87% away from its 52-week high. Last month, the company reported results for fourth quarter.
Revenue during the quarter came in at s $1.2 million compared to $1.3 million in Q4 2020. The gross margin fell to 68.3% from 73.7% in the prior year quarter. Operating expenses were $2.2 million versus $1.7 million in Q4 2020. The increase was primarily in R&D spending to support the Company’s evolving portfolio of disease-specific prescription indications for its Quell technology, and outside marketing services also related to this program.
Augmedix Inc. (NASDAQ:AUGX) is another stock in the Medical Device sector which has been consolidating the gaining momentum recently. Preliminary Revenue growth in the fourth quarter of 2021 is expected to be approximately 43% to 44% year-over-year, an acceleration from the 33% year- over-year growth we delivered in the third quarter of 2021. Preliminary Average Clinicians in Service (CIS) in the fourth quarter of 2021 rose 49% year-over-year versus 42% in the third quarter of 2021.
