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Biotech / Medical : Oxford Health Plan (OXHP)
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To: men mailman who wrote (319)12/4/1997 10:54:00 PM
From: Jeff Mills  Read Replies (2) of 2068
 
I dont know alot about how HMOs are valued, but right now OXHP has a marketcap of about $1.670 Billion. In the past 12-months, revenues were $3.994 Billion. Currently the price-to-sales ratio on OXHP is 0.42. That's 42› in stock for every $1 in sales they are doing. At its high, OXHPs PSR was 1.76 and the stock was valued at about 7 Billion. If I recall, OXHP said that in 1998 they would see > $5 Billion in revenues. So here is a $5 Billion company valued at $1.67 in the market. There are some shortterm problems, but how low can this stock go? I found the FLA expansion article very bullish and promising and I dont think OXHP would be making those type of comments or expansion if the company was going under. I keep thinking OXHP may be another MEDA--a health-care software company that blew up last year, but upon inspection, MEDA was/is a very small company doing only about $600 MM/year in sales. OXHP is a big company--$4 billion per year is alot of revenue. With that kind of cash flow, it has to look cheap to somebody at $1.67 Billion right now (besides us). Unless the wheels are coming off in big ways and unless they cooked the books, I would be surprised to see OXHP trade below $20. But everything is possible.
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