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Biotech / Medical : Palomar Medical Technologies, Inc.
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To: stewart kagel who wrote (70)6/28/1996 11:15:00 AM
From: John B. Anderson   of 708
 
Stewart / All:

I've got a broker touting this stock to me, and had a talk with the only analyst following the company I can locate. She, Amy Bell, started off our discussion by telling me that she hadn't calculated her total shares outstanding correctly based on the Tissue Technologies (? name) acquisition, and was dropping her next year eps number back toward the south side of $1.00 by a few cents. Then, only when pushed about rate-of-growth assumptions in her model, and taking several moments off the phone to work on an answer, she claimed her model called for a 20-25 % annual rate of growth in earnings.

To make a long story short, I was not overwhelmingly impressed with the analyst's information or thought process. While if they do earn $1.00 per share next year, this stock is cheap on an earnings basis, it's not particularly cheap on a capitalization basis or price/revenue. and there are obviously big risks in FDA approvals and market absorption of their devices!

I would be interested in any arguments to refute my statements. I follow the company because it DOES look interesting. I'm just sitting on the fence right now.

Another thing -- can anyone explain all the various ventures this company is involved with?

John_B_Anderson@prodigy.com
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