ZOLL Medical Corp. (ZOLL) just hit a new 52-week high on continued momentum from the company’s better than expected Q4 results from early November.
Company Description
ZOLL Medical Corp., together with its subsidiaries, develops and sells specialized medical devices and software solutions in the United States and Internationally. The company was founded in 1980 and has a market cap of $578 million.
Shares of ZOLL are once again pressuring the 52-week high after rebounding from a short-term level of support just above $26. ZOLL has been surging since early November when the company reported better than expected Q4 results.
Fourth-Quarter Results
Sales were up 2% from last year to $108 million. Earnings were also strong at 16 cents per share, 8 cents ahead of the Zacks Consensus Estimate. The company has beat or matched the consensus in each of the last 4 quarters by an average of 5 cents, or 67%,
ZOLL noted that it saw exceptional growth from its LifeVest product, with revenue growth up over 65% from last year. The company’s balance sheet also got a boost, with cash and equivilants increasing to $51 million from $36 million last year.
Next-Year Estimate Up
The current-year estimate has been mostly steady for the last few months at 81 cents, but the next-year estimate added 12 cents on the good quarter, climbing to $1.16, a 44% growth projection.
After the recent string of gains, this stock doesn’t come cheap, trading with a forward P/E of 33X, a premium to the overall market.
The Chart
Shares of ZOOL gapped open higher on the good quarter and have been trending higher ever since, hitting a number of new 52-week highs.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Surprise Trader Service. Zacks Investment Research
