Nautilus Inc. closed at its highest price in more than two years after the maker of gym equipment introduced a new machine that protects a person’s joints during exercise.
The stock rose 8.6 percent to $3.80 in New York, the highest level since March 2010. The Vancouver, Washington-based company’s stock has more than doubled this year.
Nautilus, which counts investor Norman H. Pessin as its largest shareholder, released the Schwinn 520 Reclined Elliptical machine today. The recumbent device is designed to simulate a “natural walking motion” and provide an effective workout that “relieves pressure from the joints,” according to the company’s statement.
The new machine joins Nautilus products such as the CoreBody Reformer, the Peak Fit System and the Bowflex TreadClimber, Chief Executive Officer Bruce Cazenave said in the statement.