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Opinions Garth Jestley
Futuremed HealthcareFMD.TODON'T BUYAug 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.
$12.40
Stock price when the opinion was issued
biotechnologypharmaceutical
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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.
Sandy McIntyreOwned
biotechnologypharmaceutical
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.
Michael Simpson, CFAOwned
biotechnologypharmaceutical
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.
Jamie HorvatOwned
biotechnologypharmaceutical
TOP PICK
Distribution services for nursing homes. Generates a lot of free cash flow. Nursing homes are a growing market. Recession resistant. 13% distribution.
Jean-Francois TardifOwned
biotechnologypharmaceutical
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.
Jean-Francois TardifOwned
biotechnologypharmaceutical
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.
Jean-Francois TardifOwned
biotechnologypharmaceutical
PAST TOP PICK
(A Top Pick Feb 15/06. Up 30%.) A very stable business distributing supplies to retirement homes. A lot of free cash flow.
Jean-Francois TardifOwned
biotechnologypharmaceutical
