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3 Stocks Pushing The Health Services Industry Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Health Services industry as a whole closed the day up 0.1% versus the S&P 500, which was unchanged. Laggards within the Health Services industry included Allied Healthcare Products (AHPI), down 3.9%, VirtualScopics (VSCP), down 4.8%, Span-America Medical (SPAN), down 1.6%, InfuSystems Holdings (INFU), down 1.9% and Biocept (BIOC), down 3.8%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

Span-America Medical (SPAN) is one of the companies that pushed the Health Services industry lower today. Span-America Medical was down $0.35 (1.6%) to $21.40 on average volume. Throughout the day, 3,916 shares of Span-America Medical exchanged hands as compared to its average daily volume of 3,600 shares. The stock ranged in price between $20.71-$21.50 after having opened the day at $20.71 as compared to the previous trading day's close of $21.75.

Span-America Medical Systems, Inc. manufactures and distributes various therapeutic support surfaces and related products for the medical, consumer, and industrial markets primarily in the United States and Canada. The company operates in two segments, Medical and Custom Products. Span-America Medical has a market cap of $62.8 million and is part of the health care sector. Shares are up 4.4% year-to-date as of the close of trading on Tuesday.

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TheStreet Ratings rates Span-America Medical as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

Highlights from TheStreet Ratings analysis on SPAN go as follows:

  • SPAN has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 3.31, which clearly demonstrates the ability to cover short-term cash needs.
  • Net operating cash flow has significantly increased by 221.49% to $1.08 million when compared to the same quarter last year. In addition, SPAN-AMERICA MEDICAL SYS INC has also vastly surpassed the industry average cash flow growth rate of 7.63%.
  • 37.90% is the gross profit margin for SPAN-AMERICA MEDICAL SYS INC which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 6.05% trails the industry average.
  • Compared to where it was 12 months ago, the stock is up, but it has so far lagged the appreciation in the S&P 500. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.

You can view the full analysis from the report here: Span-America Medical Ratings Report

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