Breakout Bonanza: 3 Health Stocks Top Buy Points; Another Inches Up

Health care stocks Intuitive Surgical (ISRG) and Danaher (DHR) broke out Monday as Globus Medical (GMED) flirted with a buy point.

On the stock market today, Intuitive Surgical and Danaher both edged above buy points out of flat bases, according to Intuitive shares topped an entry at 893.89 and Danaher stock rose above its buy point at 261.53. Omnicell (OMCL) briefly topped a cup base entry at 147.09.

All three moves occurred in relatively low volume, however. Intuitive and Omnicell shares hit record highs and the move for Danaher followed its announcement Friday that it would buy privately held Aldevron for $9.6 billion in cash. Aldevron makes components for drug development.

Intuitive Surgical shares ended the day at 894 with a 1.7% gain. Danaher stock climbed 2.2% to 262.59. Omnicell shares rose 2.3% to 146.96, but that wasn’t enough to retain its breakout.

Health Care Stocks Break Out

Intuitive Surgical, a maker of robotic surgery systems, belongs to the Medical-Systems/Equipment industry group. The group of health care stocks is ranked No. 33 out of 197 tracked by Investor’s Business Daily. This puts the group in the top 17% of all industry groups.

Intuitive shares rank seventh in their group with a Composite Rating of 92, according to IBD Digital. This puts the health care stock in the top 8% of all stocks in terms of key technical and fundamental measures.

Omnicell belongs to the same strong industry group as Intuitive Surgical. Shares rank fourth with a Composite Rating of 95. Omnicell manages and delivers pharmaceutical products.

Danaher, on the other hand, ranks first in the Medical-Diversified industry group. It has a strong Composite Rating of 97 out of a best-possible 99.

But the Medical-Diversified industry group is a lowly ranked No. 132 out of 197 groups.

Other Stocks Eye Buy Points

Meanwhile, Globus Medical is forming a flat base buy point at 75.10. Globus shares belong to the Medical-Products industry group. Shares ended the regular session up 2.2% at 73.45. The health care stocks group ranks No. 88 out of 197 groups. It’s led by Invisalign-maker Align Technology (ALGN).

Among all health care stocks, the top-ranked group includes hospital stocks like Select Medical Holdings (SEM) and Tenet Healthcare (THC). The group is ranked 10th out of 197 groups.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.


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