CML Healthcare

CLC-T

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Analysis and Opinions about CLC-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
January 20, 2012
Lab testing and medical imaging. Nice demographics in the healthcare space as the population ages. Sold their US holdings. Solid dividend yield, which they can grow fairly dramatically over the next little while. 7% plus yield.
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CML Healthcare (CLC-T)
January 20, 2012
Lab testing and medical imaging. Nice demographics in the healthcare space as the population ages. Sold their US holdings. Solid dividend yield, which they can grow fairly dramatically over the next little while. 7% plus yield.
WAIT
WAIT
January 11, 2012
Recession-proof business. Lab testing, ultra sound. One of its growth strategies was to enter the US, which they have now sold. Be cautious. Canadian operations are doing ok but the company recently resigned a funding agreement with the ministry of health and it is more stringent this time. Management might have a tough time maintaining margins. Payout ratio is about 90%. CEO seat has been vacant for about 7 months. It is hard to know the growth strategy going forward and you should wait until that is straightened out.
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CML Healthcare (CLC-T)
January 11, 2012
Recession-proof business. Lab testing, ultra sound. One of its growth strategies was to enter the US, which they have now sold. Be cautious. Canadian operations are doing ok but the company recently resigned a funding agreement with the ministry of health and it is more stringent this time. Management might have a tough time maintaining margins. Payout ratio is about 90%. CEO seat has been vacant for about 7 months. It is hard to know the growth strategy going forward and you should wait until that is straightened out.
HOLD
HOLD
November 7, 2011
Dividend of about 7.5%, which he thinks is safe. Well-managed. Expansion into the US was slower than the company expected.
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CML Healthcare (CLC-T)
November 7, 2011
Dividend of about 7.5%, which he thinks is safe. Well-managed. Expansion into the US was slower than the company expected.
PAST TOP PICK
PAST TOP PICK
November 2, 2011
(A Top Pick June 15/11. Up 5.32%.) Dividend is running around 8%-8.5%. A big risk was the Ontario government going through a healthcare review, which turned out favourably. Some assets in the US, which was a mistake.
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CML Healthcare (CLC-T)
November 2, 2011
(A Top Pick June 15/11. Up 5.32%.) Dividend is running around 8%-8.5%. A big risk was the Ontario government going through a healthcare review, which turned out favourably. Some assets in the US, which was a mistake.
DON'T BUY
DON'T BUY
October 20, 2011
Has disappointed quite a bit in the last 2 years. He is always hesitant when you start to see deterioration in fundamentals and detailed ratio starts to get tight. He is currently short this one.
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CML Healthcare (CLC-T)
October 20, 2011
Has disappointed quite a bit in the last 2 years. He is always hesitant when you start to see deterioration in fundamentals and detailed ratio starts to get tight. He is currently short this one.
WATCH
WATCH
October 6, 2011
Quite a bit of uncertainty. Needs to resolve, 1.negotiating a new labratory cap agreement with Ont. Gov. 2. Need a CEO. 3. Their US business, (dependent on the CEO).
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CML Healthcare (CLC-T)
October 6, 2011
Quite a bit of uncertainty. Needs to resolve, 1.negotiating a new labratory cap agreement with Ont. Gov. 2. Need a CEO. 3. Their US business, (dependent on the CEO).
TOP PICK
TOP PICK
September 15, 2011
Medical testing labs. Expansion into the US has been a disaster and CEO and COO were let go. The Cdn business works fine and generates a lot of cash flow. Expect the US assets to be sold. Expect a new permanent CEO by November. Trading at about 10-12 years historic lows at about 8.2X cash flow. Will be paying $0.75 dividend for the rest of 2011.
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CML Healthcare (CLC-T)
September 15, 2011
Medical testing labs. Expansion into the US has been a disaster and CEO and COO were let go. The Cdn business works fine and generates a lot of cash flow. Expect the US assets to be sold. Expect a new permanent CEO by November. Trading at about 10-12 years historic lows at about 8.2X cash flow. Will be paying $0.75 dividend for the rest of 2011.
BUY
BUY
September 7, 2011
Has been in the penalty box for the better part of a year because of an acquisition of US laboratory properties that has gone bad. You are basically getting the Canadian business at a discount price. (US assets are not worth anything.)
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CML Healthcare (CLC-T)
September 7, 2011
Has been in the penalty box for the better part of a year because of an acquisition of US laboratory properties that has gone bad. You are basically getting the Canadian business at a discount price. (US assets are not worth anything.)
BUY
BUY
August 23, 2011
Doesn’t think the problems in the US are entirely fixed, but are stabilized to a great extent. 2nd quarter showed Canadian results. Chart reflects the change from high payout trust to low payout corp. There are some problems in US operations. There have been management changes and so some uncertainty for some period of time. They are on a better tact right now. Will re-negotiate lab contracts in Ontario. 9% yield. Even if it came off a little, which it could because of their earnings power it is still attractive.
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CML Healthcare (CLC-T)
August 23, 2011
Doesn’t think the problems in the US are entirely fixed, but are stabilized to a great extent. 2nd quarter showed Canadian results. Chart reflects the change from high payout trust to low payout corp. There are some problems in US operations. There have been management changes and so some uncertainty for some period of time. They are on a better tact right now. Will re-negotiate lab contracts in Ontario. 9% yield. Even if it came off a little, which it could because of their earnings power it is still attractive.
BUY
BUY
July 26, 2011
Have not bought it because of other opportunities. Tremendous lab business in Canada that provides good, solid cash flow. More than more of the lab work will be outsourced to companies like this.
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Have not bought it because of other opportunities. Tremendous lab business in Canada that provides good, solid cash flow. More than more of the lab work will be outsourced to companies like this.
TOP PICK
TOP PICK
June 15, 2011
Medical diagnostic labs. About 8% yield and feels this is secure for the time being. Risks would include government intervention. With the aging population, they will have more and more tests.
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Medical diagnostic labs. About 8% yield and feels this is secure for the time being. Risks would include government intervention. With the aging population, they will have more and more tests.
BUY
BUY
May 17, 2011
Liked their business model when they were a trust Lab business in Ontario has been pretty much of a cash cow. Have stumbled a bit in radiology services in the US. Also some question on management. Under $10 it has started showing up on his radar screen and he would be very tempted. Looking at adding to his holdings.
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Liked their business model when they were a trust Lab business in Ontario has been pretty much of a cash cow. Have stumbled a bit in radiology services in the US. Also some question on management. Under $10 it has started showing up on his radar screen and he would be very tempted. Looking at adding to his holdings.
HOLD
HOLD
May 16, 2011
Medical testing. Very solid business but the government pays for most of the tests and they can squeeze the labs pretty hard in a recession. So far they haven’t this time, but it is possible as we go through the next stages. If he owned, he might sit it out.
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Medical testing. Very solid business but the government pays for most of the tests and they can squeeze the labs pretty hard in a recession. So far they haven’t this time, but it is possible as we go through the next stages. If he owned, he might sit it out.
DON'T BUY
DON'T BUY
May 10, 2011
Sold 18 months ago. Didn’t know it was going to be as bad as it got. Lab business in Canada is fine but US arm not. Fired management and now have new management. Dividend is not necessarily safe. Avoid this one.
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Sold 18 months ago. Didn’t know it was going to be as bad as it got. Lab business in Canada is fine but US arm not. Fired management and now have new management. Dividend is not necessarily safe. Avoid this one.
HOLD
HOLD
April 8, 2011
Have had some challenges over the past several quarters particularly in their US business. They made an acquisition about 3 years ago. Took a 2nd $50 million dollar write down on it last year. Small part of their business and not affecting their EBITDA but is making headline news. Cdn business remains very stable. A yield play at 7.5%.
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Have had some challenges over the past several quarters particularly in their US business. They made an acquisition about 3 years ago. Took a 2nd $50 million dollar write down on it last year. Small part of their business and not affecting their EBITDA but is making headline news. Cdn business remains very stable. A yield play at 7.5%.
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