Power Rankings – March 3rd, 2025

Robin Young’s Entirely Subjective Ordering of Public Orthopedic Companies

This Week: February was rough and ended with Trump shouting “You’re risking World War III” in a room full of journalists. Only 19% of AAII respondents expect stocks to rise next six months, lowest since 1987 (a bad year for stocks). Trump reiterated his 25% tariffs on Mexican and Canadian goods—due this week, plus 10% duty on Chinese imports. Fingers crossed, bilateral negotiations ratchet some of those percentages down. No mistake, investors are moving capital into large cap, diversified, dividend paying havens like JNJ, MDT and SNN. You can see it in the numbers.

Rank	Last Week	Company	TTM Op Margin	30-Day Change	Comment
1	3	Smith & Nephew	11.60%	14.42%	Venerable London-based SNN, owner of equally venerable Richards Medical, is Numero Uno on the Power Rankings this week. Bargain stock. High dividend yield and up 14% in the last 30 days.
2	4	Johnson & Johnson	24.52	10.05	Capital is flooding into $400 billion market cap JNJ, the largest medical and pharma supplier. Stable, 3% dividend yield at the forefront of life science innovation.
3	9	Medacta	15.78	13.73	Really strong sales to end 2024: knee sales up 22%, extremity up 39%, spine up 13% and Hip up 8%. 591 million euros total ($620 milion). Added 177 new jobs. Only 25 years old.
4	2	Medtronic	19.17	0.67	Medtronic spine hasn’t been this growth oriented in decades.  Internal goal: gain market share. Upgrading to nano-surface is a value-add for every implant.
5	1	Pacira Biosciences	13.02	(7.61)	2024 report didn’t impress investors. Sales: $701 million, GAPP net loss of $100 million, EBITDA of $224 million. Lots of C-Suite changes. New product shiny object: genetic medicine. Transition.
6	6	Globus Medical	17.67	(13.44)	GMED is too cheap. Investors not excited about Nevro buy.  They don’t understand the value play that GMED just executed. Positioning move that will pay off almost immediately.
7	7	Zimmer Biomet	20.70	(6.06)	Can Ivan stop the profit leakage? Investors are beginning to wonder. Headlines are all about Ahhnold, but the stock keeps falling. Certainly a value at these prices.
8	8	Integra LifeSciences	6.60	(11.14)	Looking at 2025, IART took the conservative guidance approach and pulled investors expectations down to a 1-5% sales growth range. Hence the sell off. Value play, for sure.
9	5	Xtant	(12.29)	(1.47)	2024 sales and earnings report expected this week. Two analysts are covering the stock and they expect nearly 30% revenue growth and more than $100 million in sales.
10	NR	Axogen	4.08	9.28	Back on the Power Rankings after a stellar 2024 sales report. $187 million, up 18% and $3.5 milion net income, adjusted.  Stock is up 9%.

Top Performers Last 30 Days

	Company	Symbol	Price	Mkt Cap	30-Day Chg
1	MicroPort Scientific	0853	$0.96	$1,770	15.31%
2	Smith & Nephew	SNN	$28.96	$12,661	14.42%
3	Medacta	MOVE	$145.47	$2,909	13.73%
4	Johnson & Johnson	JNJ	$165.02	$397,305	10.05%
5	AxoGen	AXGN	$20.01	$887	9.28%
6	SINTX Technologies	SINT	$3.31	$9	8.52%
7	SI-BONE, Inc	SIBN	$18.12	$769	5.23%
8	Alphatec Holdings	ATEC	$12.53	$1,806	3.90%
9	Anika Therapeutics	ANIK	$17.45	$256	3.07%
10	Medtronic	MDT	$92.02	$118,020	0.67%

Worst Performers Last 30 Days

	Company	Symbol	Price	Mkt Cap	30-Day Chg
1	Aclarion	ACON	$3.35	$3	-63.64%
2	Aurora Spine	ASG.V	$0.23	$18	-25.65%
3	ConMed	CNMD	$59.17	$1,829	-15.94%
4	Dynatronics Corp	DYNT	$0.11	$1	-14.60%
5	Globus Medical	GMED	$80.32	$11,038	-13.44%
6	Integra LifeSciences	IART	$23.21	$1,792	-11.14%
7	Pacira Biosciences	PCRX	$24.05	$1,113	-7.61%
8	Orthofix	OFIX	$17.38	$678	-7.11%
9	OrthoPediatrics Corp	KIDS	$23.22	$562	-6.52%
10	Zimmer Biomet	ZBH	$104.32	$20,766	-6.06%

Lowest Price / Earnings Ratio (TTM)

	Company	Symbol	Price	Mkt Cap	P/E
1	ConMed	CNMD	$59.17	$1,829	18.62
2	Pacira Biosciences	PCRX	$24.05	$1,113	18.91
3	Zimmer Biomet	ZBH	$104.32	$20,766	19.69
4	Medtronic	MDT	$92.02	$118,020	21.53
5	Johnson & Johnson	JNJ	$165.02	$397,305	21.94

Highest Price / Earnings Ratio (TTM)

	Company	Symbol	Price	Mkt Cap	P/E
1	Xtant Medical Hldgs	XTNT	$0.51	$71	107.39
2	Globus Medical	GMED	$80.32	$11,038	76.90
3	Medacta	MOVE	$145.47	$2,909	47.68
4	Stryker	SYK	$386.19	$147,362	35.52
5	Smith & Nephew	SNN	$28.96	$12,661	30.73

Lowest P/E to Growth Ratio (Earnings Estimates)

	Company	Symbol	Price	Mkt Cap	PEG
1	Medacta	MOVE	$145.47	$2,909	1.71
2	Pacira Biosciences	PCRX	$24.05	$1,113	1.75
3	ConMed	CNMD	$59.17	$1,829	2.42
4	Medtronic	MDT	$92.02	$118,020	2.95
5	Smith & Nephew	SNN	$28.96	$12,661	3.01

Highest P/E to Growth Ratio (Earnings Estimates)

	Company	Symbol	Price	Mkt Cap	PEG
1	Globus Medical	GMED	$80.32	$11,038	6.75
2	Xtant Medical Hldgs	XTNT	$0.51	$71	5.37
3	Johnson & Johnson	JNJ	$165.02	$397,305	3.72
4	Stryker	SYK	$386.19	$147,362	3.62
5	Zimmer Biomet	ZBH	$104.32	$20,766	3.03

Lowest Price to Sales Ratio (TTM)

	Company	Symbol	Price	Mkt Cap	PSR
1	Dynatronics Corp	DYNT	$0.11	$1	0.03
2	Xtant Medical Hldgs	XTNT	$0.51	$71	0.78
3	Orthofix	OFIX	$17.38	$678	0.85
4	Aurora Spine	ASG.V	$0.23	$18	0.91
5	Integra LifeSciences	IART	$23.21	$1,792	1.11

Highest Price to Sales Ratio (TTM)

	Company	Symbol	Price	Mkt Cap	PSR
1	Aclarion	ACON	$3.35	$3	45.13
2	Stryker	SYK	$386.19	$147,362	6.52
3	Medacta	MOVE	$145.47	$2,909	5.70
4	AxoGen	AXGN	$20.01	$887	4.74
5	SI-BONE, Inc	SIBN	$18.12	$769	4.60

PSR: Aggregate current market capitalization divided by aggregate sales and the calculation excluded the companies for which sales figures are not available.