SWAV - 3 Healthcare Stocks That Are Beating the Market
Looking for stocks that are beating the market in 2022? Our roundtable has three healthcare names that are killing it right now: Shockwave Medical (NASDAQ: SWAV) , Axsome Therapeutics (NASDAQ: AXSM) , and Rhythm Pharmaceuticals (NASDAQ: RYTM) . Read more to find out why our Foolish trio likes these three companies.
Patrick Bafuma (Shockwave Medical): Shockwave Medical isn't beating the market this year, it's crushing it. Up nearly 60% year to date, this medical device company is transforming the treatment of cardiovascular disease. Using sound waves to break calcium buildup, thereby expanding blood vessel size, its innovative solution restores blood flow to the affected area. And so far, both investors and the medical community seem to be rejoicing.
The calcium cracking company grew sales 30% sequentially in the second quarter to the tune of $120.7 million and even raised guidance. The company now projects revenue for 2022 to range from $465 million to $475 million, its second raise this year. That is more than 13% from the midpoint of guidance at the end of Q4 2021 when the company was guiding for $405 million to $425 million for the year. With the company cruising past its expectations, it is no wonder its share price is soaring.
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3 Healthcare Stocks That Are Beating the Market