Merit Medical The U.S. economy may be bordering on recession, but try telling that to the shareholders of South Jordan, Utah-based Merit Medical Systems Inc.
leading S-B picks
The disposable products
manufacturer is up 111% at the
midway point of the contestBy Dave Segal
dsegal@starbulletin.comOr better yet, try convincing Honolulu's Frank Yap.
Merit, which manufactures and markets disposable products used in cardiology and radiology procedures, has soared 111.1 percent since July 1 to put Yap in the lead at the midway point of the Star-Bulletin's Star Stocks contest. The winner of the competition will pocket $500. The contest required readers to pick a New York Stock Exchange or Nasdaq Stock Market company trading for at least $5 that would post the best percentage gain over the second half of this year.
So far, Merit Medical and Yap are running away with the contest. Merit, which closed yesterday at $19, has surged 322.2 percent year-to-date and 265.4 percent over the past 52 weeks. It was trading at a post-split price of $9 when the contest began. The company, which split its shares 5-for-4 on Aug. 24, last week said its third-quarter earnings already had exceeded its pre-split earnings guidance of 12 cents a share, with a month remaining in the quarter. Merit also beat its earnings guidance in the second quarter.
Three other companies are dueling it out for second place as the contest heads into its final three months.
Interstate Bakeries Corp., which produces and distributes fresh bakery products throughout the United States, has risen 59.4 percent since midyear. The stock, up 81.3 percent year-to-date, was selected by Jerrold Kam of Kaneohe and Alfred Lum of Honolulu.
Earthgrains Co., acquired for $2.8 billion on Aug. 14 by Sara Lee Corp., has seen its stock's percentage gain frozen at 54.8 percent due to the fact it no longer operates as an independent company. The baking company stock was chosen by Lana Au of Honolulu. Sara Lee is the biggest U.S. maker of frozen cakes and pies.
Argosy Education Group Inc., the nation's largest for-profit provider of doctoral level academic programs, is in fourth place with a gain of 47.8 percent. The stock, up 138 percent this year, was selected by Alison Kam of Kaneohe.
Bradley Pharmaceuticals Inc., ahead 46.4 percent since midyear, was chosen by Roland Corpuz of Waianae, Gordon Au of Honolulu, Takashi Kamisato of Waipahu, James Kaneshiro of Honolulu, Alan Tashiro of Honolulu and Meg Lee of Mililani. The company, which markets over-the-counter and prescription pharmaceutical and health-related products, is up 436.2 percent year-to-date.
All other stock picks have gains of less than 40 percent.
The worst performing stock picks include three with declines of 80 percent or more.
Bringing up the rear is Redback Networks Inc., a maker of networking gear, which was chosen by two contestants. It is down 83.7 percent since July 1 and 96.5 percent year-to-date.
Next-to-last is i2 Technologies Inc., a maker of software that helps companies communicate with suppliers. It was chosen by three people and is down 82.6 percent since July 1 and 93.7 percent year-to-date.
Handheld computer maker Handspring Inc., chosen by one person, is off 82.5 percent since the contest began and down 96.5 percent year-to-date.