As IHI Keeps Surging, Which Are the Top Performers?



Reviewing IHI

The markets fell today as oil took a dive. The Dow Jones Industrial Average fell 0.6%, and the SPDR S&P 500 ETF (SPY) fell 0.5%. The iShares US Medical Devices ETF (IHI) fell marginally on strong volume support and stayed close to its all-time high of $129.19 on April 20, considering only the closing prices, though the intra-day high was $129.64 on the same day.

The above chart shows you moving average prices, current prices, and returns at various intervals of the iShares US Medical Devices ETF, the SPDR S&P 500 ETF, and a few holdings of IHI as of April 21. IHI closed at $128.96 and was trading above 20- and 100-day moving averages. In the past three months, IHI has given a return of 13%. On a year-to-date basis, IHI is up 5.3% and has outperformed the SPDR S&P 500 ETF, which has a year-to-date return of 2.5%. IHI recorded a trading volume of ~167,000 shares against a three-month average trading volume of ~105,000 shares per day. The relative strength index or RSI for IHI is 72, indicating that the ETF is temporarily overbought.

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Top performers of IHI

Invacare (IVC), Orasure Technologies (OSUR), and Waters (WAT) were the top average performers of IHI on April 21. They rose 2.9%, 1.1%, and 0.9%, respectively.

Invacare closed at $13.8 on good trading volume of ~317,000 shares per day versus the five-day average trading volume of ~370,000 shares per day. Year-to-date, the stock is down 20.6%. However, analysts recommend a median target of $19.3 and two analysts recommended a “buy” while one analyst recommends a “hold.” IVC has a book value of $14.21 per share and, with its current price, the stock is trading at a price-to-book value of ~0.97x. IVC has a weight of 0.2% in IHI’s portfolio.


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