If there is one industry that has managed to grow at a fairly remarkable clip over the course of the past few years then it is the medical device industry and it is an industry in which investors are taking an interest earnest.
The Wearable Medical Devices industry had been worth as much as $18.1 billion back in 2021 and by 2026; it is projected to be worth as much as $38.9 billion. That reflects a CAGR of a healthy 15.89%. The research had been conducted by ResearchandMarkets. Considering the potential growth, it may be a time for investors to start looking into certain stocks in the sector.
Wearable Health Solutions Inc (OTCMKTS:WHSI) – Wearable Health Solutions Inc may be a small company but it is involved in a sector that is all set to grow and its products are actually in the market already, with more on the way. Not too long ago, the company had announced that it was going to launch its iHelp Max 4G product in June, and considering the fact that the product could be launched any day, there may be a sense of anticipation among investors.
Hence, it may be a good time to add the stock to your watch lists and watch for any upward move in the stock when the product is launched. It should also be noted that the demand for such products has also been on the up.
GBS Inc (NASDAQ:GBS) – The next one that investors could do well to look into at this point in time is the GBS Inc stock. There has been no news about the company in recent days but it could be a sensible move to take a look at the financial results of the company for the period ended March 31, 2022, that had been declared last month.
The company managed to generate revenues to the tune of $193,000 from government support and that reflected a significant jump from the $34000 that it had generated in the prior-year period. In addition to that, the operating expenses for the quarter actually went down to $1.5 million from $3.2 million in the prior-year period. That represented a decline of 52%.
G Medical Innovations Holdings Ltd (NASDAQ:GMVD) – Considering the fact that the G Medical Innovations Holdings Ltd went up by as much as 88% yesterday, it had to make its way into this list despite there being no news about the company at all.
The last time the company had been in the news was back on May 20 when it announced that the board of directors at the company had provided the approval for a share repurchase program.
As per the share repurchase initiative, G Medical Innovations Holdings would buy up its shares worth as much as $1 million. It would purchase its own shares in a periodic manner in the open market. In light of the latest rally in the stock, it might be a good time for investors to start keeping a close eye on the stock.
Senseonics Holdings Inc (NYSEAMERICAN:SENS) – The past few days have not been particularly great for investors in the medical technology company Senseonics Holdings Inc as the stock has taken a beating.
On Monday, it continued as the Senseonics went down by 10% and extended its decline for the past week to as much as 18%. There has been no news about the company but back on May 10, it had announced its financial results for the quarter that had ended on March 31, 2022.
Revenues dropped year on year from $2.8 million to $2.5 million. The revenues generated in the United States market came in at $0.8 million and that was actually a higher figure than the $0.3 million generated in the prior-year period. The gross profit for the quarter came in at $0.5 million and that remained unchanged from the gross profits in the prior-year period.
HeartBeam Inc (NASDAQ:BEAT) – HeartBeam Inc did not have a great start to the week as its stock went into a downward spiral and ended the day with a decline of as much as 8%.
There was no news about the company yesterday but investors ought to note that it is an innovative company. HeartBeam is involved in providing detection and monitoring solutions for the detection of cardiac arrest outside of a healthcare establishment environment.
BlackSky (NYSE:BKSY) – Last but certainly not least, it is the company BlackSky that could be tracked by investors at this point in time. The stock suffered from a major selloff on Monday and went down by 11% yesterday despite there being no news.
However, back on May 26, it had been announced by the company that it had landed a new contract that could eventually be worth up to $1 billion if everything works right.