Daily Stock Opinions and Ratings

Opinions

Garth Jestley Futuremed Healthcare FMD-T DON'T BUY Aug 11, 2006

Basically distributes products to the long care sector. A play on the ageing population. 70/75% of its business is very stable. Has performed quite well. Also sells diagnostic equipment, which tends to be volatile. Expensive at the current level.

Garth Jestley

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$12.400

Stock price when the opinion was issued

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TOP PICK

He supplied provider to hospitals, nursing homes, et cetera. Healthcare sector so very protected in the event of a recession. Growing between 5% and 15% annually. Generates a lot of free cash flow. Distribution of around $.92 giving a 10% yield plus 10% growth.

COMMENT

Sells supplies to nursing homes, which is a growth industry long-term. Good management team.

TOP PICK

Distributor of medical products, mostly in Ontario. Just bought a Quebec company, which should grow revenues and margin expansion. 12% distribution is likely to be increased this year. Earnings per share should grow at 10%-20% also.

TOP PICK

Distribution services for nursing homes. Generates a lot of free cash flow. Nursing homes are a growing market. Recession resistant. 13% distribution.

TOP PICK

Conservative name trading at 10-11 times PE. Entrepreneurial management team with ownership in the company. Strong market share in the distribution business in healthcare and long term care facilities.

TOP PICK

Distributes supplies such as wound management, chairs, furniture, etc. to retirement homes. Well run. Have already cut their distributions. Trades at 6 times EBITDA.

COMMENT

Rarely sells after an earnings disappointment. Doesn’t think there is a structural problem with the business. They need to get some clarity on how they will transition into what is in effect a new business model where they will have a growth side.

WATCH

Distribute healthcare products primarily to retirement homes. Started to see more competition in the 2nd quarter and intensified in the 3rd quarter. Cut distributions once but may do another cut. He’ll wait for Q4 results.

PAST TOP PICK

(A Top Pick Dec 16/09. Down 14.43%.) Supplies to seniors’ homes. Pays a yield of 9%. Missed their growth objectives so he sold his holdings.

PAST TOP PICK

(A Top Pick July 7/10. Down 10.07%.) Sold his holdings.

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Garth Jestley Futuremed Healthcare FMD-T DON'T BUY Aug 11, 2006

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