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Strategies & Market Trends : Value Investing
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From: Lance Bredvold7/29/2025 11:48:04 AM
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I'll pop in noting a couple of unusual occurrences recently. Today NVO (Novo Nordisk) took a dive and I saw our moderator had bought some. I have made the mistake of buying from as high as $144 down to today at $55 and largely for the same reasons he bought a few.

The second I'm more pleased about: Surmodics (SRDX), a small medical device and surface modification producer (think slippery for stents) which is attempting to break into the production and sale of balloon and also extraction stents to pull thrombii out of both arteries and veins after they have formed. That effort has taken longer than I or they had hoped and so they offered themselves for sale. Got an agreement with a private investor for $43 a share 18 or so months ago. FTC objected and now a year later I don't know the status of that case but the reason for objecting is that the same private investor already owned the second largest producer of surface modification products. That shocked the market into SRDX's price going down to $25 or so and then stabilizing about $30. My analysis suggested that even if the FTC won, there were a couple of other bidders just below $43 and one of them would happily buy at 40 or more.

Last week the price suddenly rose to $36 and with just 14mm shares outstanding that could easily be a wealthy investor or fund thinking like me and offering that much. I bought quite a lot up to $30 (though I'd had some for a higher price from earlier--I've owned shares since 2000 or so. Anyway it is a value possibility.

Wile I'm posting, I mentioned TEVA here and that has been a worthwhile buy.
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