Gentleman, MWDS
I bought this stock three different times this week.
Intend to hold long term, I think its a sleeper.
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Top:Business and Finance:Stocks:Services:Waste Management Services:MWDS (Med/Waste, Inc.)
<- Previous Next -> Message 42 of 43Reply wall street journal online 4/15/98james_ripley
Apr 15 1998
6:45PM EDT
Med/Waste Up 12%; J.W. Charles Starts Coverage At Buy
By Christopher C. Williams
NEW YORK (Dow Jones)--Shares of Med/Waste Inc. (MWDS) jumped
to a 52-week high in heavy trading Wednesday after J.W. Charles
Securities Inc. initiated coverage of the medical-waste management company with a buy rating.
After rising 5% Tuesday, Med/Waste was recently up 11/16, or 12.8%, at 6 1/16 on 329,900 shares, compared with average daily volume of about 26,200. The stock traded as high as 6 7/16 earlier, surpassing its previous high of 5 11/16.
Analyst Allan S. Roness told Dow Jones that J.W. Charles bought
100,000 shares of Med/Waste.
In his report, Roness called Med/Waste a profitable and rapidly growing participant in the medical-waste industry. In addition, the analyst noted that consolidation in the medical-waste industry should dramatically benefit the company in terms of increased revenues and improved margins.
According to Roness, the splintered medical-waste disposal market, estimated at $1 billion to $2 billion, represents a substantial opportunity for an industry consolidator. Med/Waste, which is based in Miami Lakes, Fla., recently has acquired four companies.
"Additional acquisitions loom on the horizon," the analyst said.
Roness, who expects the stock to reach $9 in 12 months, sees Med/Waste earning 43 cents a share in 1998, on $43 million in revenues and 55 cents in 1999, on $60 million in sales, compared with 26 cents, excluding a one-time gain, on $13.5 million in 1997.
Med/Waste's President and Chief Executive Daniel A. Stauber cited the comments by J.W. Charles for the stock strength.
-Christopher C. Williams; 201-938-5219;
christopher.williams@cor.dowjones.com
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