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Biotech / Medical : VISX
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To: Robert G. Harrell who wrote (1526)1/20/2000 4:18:00 PM
From: W Shakespeare  Read Replies (3) of 1754
 
To buy or not to buy?

1.) Analysts have dumped the stock into the toilet. Estimates for future earnings are substantially lowered. VISX results will look better in future quarters because of lowered expectations. Analyst upgrades will boost the stock if procedure numbers turn around.
2.) Stock price reflects: flat procedures, loss of royalties due to lowered procedure fees, loss of business to competition, loss of patent protection. What else can go wrong? Does anyone honestly believe that procedure numbers will not rise from here since less than 2% of the potential market has been tapped?
3.) VISX has over $250 million in cash and zero long-term debt.
4.) VISX still has the best laser on the market and the most lasers in operation.
5.) VISX still possesses a vast arsenal of patent protection on its lasers.
6.) Once dumped, a stock can take quite a while to recover.

Final analysis: buy and hold for the long-term. I plan on doubling my position in the stock.
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