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Mindray Medical International Limited (MR) develops, manufactures, and markets medical devices worldwide.
It operates primarily in China in three segments: Patient Monitoring and Life Support Products, In-Vitro Diagnostic Products, and Medical Imaging Systems. The Patient Monitoring and Life Support Products segment offers patient monitoring devices that track the physiological parameters of patients, such as heart rate, blood pressure, respiration, and temperature. It offers its products for use principally in hospital intensive care units, operating rooms, and emergency rooms for adult, pediatric, and neonatal patients. The In-Vitro Diagnostic Products segment offers data and analysis on blood, urine, and other bodily fluid samples for clinical diagnosis and treatmen. The Medical Imaging Systems segment provides ultrasound systems for use in medical fields, such as urology, gynecology, obstetrics, and cardiology; digital radiography systems; magnetic resonance imaging systems; and picture archiving and communication systems.
The company also offers orthopedic products, endoscope devices, and healthcare IT solutions products. It sells its products directly to hospitals, clinics, and government health bureaus; and to original design and equipment manufacturers.
Shares are in the process of breaking out of a tightly formed bullish "cup & handle." Shares closed at $43.26 on Friday but we should be able to buy on a pullback to near $42. Any pullback should be short-lived.
52-Week Trading Range: $28.65 - $43.30
Entry Point: $43.00
Stop Loss: $40.85
Target Price: $47.30
MR dropped below our stop loss. It was clsoed at $40.80.
