By Louis Navellierof
Cardica (CRDC)Cardica ( CRDC) designs, manufactures and markets products used by cardiac surgeons. These products are frequently used when performing coronary bypass surgery. Cardica also makes endoscopic microcutters which are used in various other surgeries. This penny stock has boasted an impressive gain of 82.8% since January. In early August, Cardica reported total product sales of $1 million for its fiscal fourth quarter ending June 30. Its stock price of $2.14 is down slightly from its 52-week high of $2.85; however Cardica is still a good bargain buy at this time.
Pro-Dex (PDEX)Based in Santa Ana, Calif., Pro-Dex ( PDEX) designs, develops and manufactures rotary drive systems for the medical device and dental industries. These rotary systems are also used in cranial, spinal, arthroscopic and orthopedic surgery. This penny stock has climbed 46.5% since January, or 71 cents a share. In its last income statement, PDEX reported quarterly revenue growth of 33.7% year over year, along with a net profit margin of 2.82%. Investors can buy into Pro-Dex stock at $2.22 per share.
CAS Medical Systems (CASM)Medical-technology company CAS Medical Systems ( CASM) develops manufactures and markets non invasive patient monitoring products. The company's products are divided into the following segments: critical care monitoring, blood pressure measurement technology and bedside monitoring. While this penny stock is up just 4.7% year-to-date, it is still riding high from its 52-week change of 43.2%. Its stock price of $2.22 is not far off from its 52-week high of $2.51, which is an encouraging sign for potential investors.
TearLab (TEAR)TearLab ( TEAR) is known by many by its former name of OccuLogix. Based in San Diego, the health care company is known for its tear testing platform which allows eye doctors to test for highly sensitive and specific biomarkers. Since March 1, the stock has climbed an incredible 162%. The huge spike in stock price occurred when OccuLogix announced that investors had agreed to buy 1.5 million shares of the company's common stock for $3.22 per unit. The purchase cost investors approximately $5 million and sent TearLab's stock surging. Since the purchase, the stock has leveled off, however at $2.63 a share, this penny stock is still worth buying.