AVEI - Possible Suitor of American BioMed?
Hello,
One of the possible suitors of ABMI that I identified in a previous
post techstocks.com ,
Arterial Vascular Engineering, Inc., has taken a turn for the worse
in the market as its stock plunged $6 3/4 to $9 7/8 on Friday, Dec.
22, 1996. This after they reported/warned that profit for the
December quarter will fall up to 22%.
AVEI is a developer of a metal stent used to keep arteries open
after angioplasty. They market their stents in Europe and are
increasing R&D expenses to bolster a case for FDA approval of the
product in the USA.
Here is a snapshot of their action with a side by side comparison
to ABMI.
AVEI - ARTERIAL VASCULAR ENGINEERING ABMI - American BioMed
Exchange: NASDAQ OTC:BB
Last Price: 9 31/32 at 16:00 1.41 at 15:03
Change: Down 6 21/32 (-40.04%) Up 1/16 (+4.65%)
High: 10 1/4 at 9:35 1 1/2 at 14:11
Low: 9 at 10:02 1 3/8 at 10:01
Open: 9 7/8 1.41
Previous Close: 16 5/8 on 12/19 1.34 on 12/19
Volume: 3,610,800 64,700
30-Day Avg. Vol: 229,000 N/A
Shares Out: 30,984,000 N/A
52-Week High: 49 1/2 N/A
52-Week Low: 9 N/A
Beta: Not Available N/A
Yield: Nil Nil
P/E Ratio: 21.0 Not Material
EPS: 0.79 0.00
S&P Comstock
AVEI and ABMI are very similar companies. Here is what AVEI does:
Arterial Vascular Engineering develops stent systems and balloon
angioplasty catheters for the treatment of coronary artery disease.
The company's stents are used as arterial support devices in
connection with balloon angioplasty, or other minimally invasive
treatments of atherosclerosis, and to prevent abrupt closure of
vessels in angioplasty procedures. Arterial Vascular has sold its
products in 30 countries outside the United States, primarily
Germany, France, and the United Kingdom, and has applied for U.S.
Food and Drug Administration approval for domestic sales.
Thought.......... Could AVEI use ABMI's technology? Just look at
the past 52 week high of AVEI of $49 1/2 and envision where ABMI may
be headed! I must add that apparently for a growing market AVEI's
revenues seem to be declining. Hmmmm...... This quick comparison is
by no means a detailed analysis and anyone interested in investing
in ABMI or AVEI should perform their own do-diligence before making
a purchase. After this little exercise I kind of like both of the
above companies! Any thoughts on where the industry is headed would
be greatly appreciated.
Still long on ABMI....
Regards,
Tom |
