Paragon & UBI top charts

Hospital equipment supplier Paragon Care gains traction after its record result last week, while medical equipment developer Universal Biosensors rebounds after appearing oversold.

Uncapped 100 stocks have extended their outperformance against their larger peers today as investors snapped up defensive names.

The best Uncapped 100 performer is hospital equipment supplier Paragon Care (PGC) with a 7.7% jump to 35 cents, while medical equipment developer Universal Biosensors (UBI) is running a close second with a 6.9% uplift to 77 cents.

Paragon has been well supported since it released its record earnings result last week with earnings before interest, tax, depreciation and amortisation (EBITDA) surging 124% to $1.5 million as sales improved 7.6% to $17.1 million.

Universal Biosensors is rebounding from its recent sell-off, which is probably caused by investors switching out of the stock and into fellow medical equipment maker Nanosonics (NAN).

Universal Biosensors looked oversold, as highlighted in this week's article Smalls in a sweet spot, considering that there is nothing fundamentally wrong with the stock. If anything, some brokers think the stock could double in value over the next 12 months.

The Uncapped 100 is hovering around breakeven this afternoon while the S&P/ASX 200 Index has shed 0.3%.

The Uncapped 100 has been on a tear since the start of the 2013-14 financial year, with the stocks posting a 14% increase, which is about twice that of the top 200 stock benchmark.

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