Yosid, your "well reasoned" and "fact filled" reply must be very comforting to summit shareholders. LOL!!!!
My opinion based on extensive research It is out there for the good folk of the world who invest in companies' hoping to make money. If I save one person from getting suckered into buying stock in a company like Summit because they have read a bunch of unsubstantiated innuendo regarding Summit's situation from the likes of yourself, I'll be happy. Your mind appears to be closed to outside opinion and research and who the heck am I to try and open it.
As for being in love with a stock or a "TRUE BELIEVER", I have said it before in the USA TODAY ARTICLE and i'll say it again, "MY ONLY CONSTITUENCY IS MY WALLET". Visx has and continues to make me and other shareholders a big heap of money. Can you say the same for your lovely little investment in BEAM? No, of course you can't, but you banter about shorting this and option plays on that and on and on. I seriously doubt it. Summit has not made anyone money in the last 2 or 3 years except for day traders and options players(and the lawyers) who may have gotten lucky once or twice----I kind of hope you were one of them, but I doubt it. Good luck to you, Yosid. Please disregard the rest of my post, it will only be useful to thos of an open mind.
Ten Good Reasons to buy/hold VISX
1. They have the best, most technologically advanced equipment currently available in the U.S. with the multiple FDA approvals to prove it
2. They have the vast majority of patents that count both domestic and internationally.
3. They are owed 4.5 million from Summit for unpaid equipment royalties. That equates to 30 cents a share this year.
4. They are receiving the "LIONS SHARE" of PPP royalty stream and will receive even more because of the "LASIK LOOPHOLE".
5. They have a stellar worldwide reputation for their STAR laser system as well as their service and support network.
6. THEY, UNLIKE SUMMIT, HAVE GREAT EARNINGS AND POTENTIAL!!!!.
7. Visx will earn somewhere in the neighborhood of 1.60-2.00/share in the next 12 months(including the 4.5 million from Summit) applying the cursory multiple of 25 times earnings for fast growing, profitable, tech companies one can anticipate Visx shares trading easily in the range of 40-50 dollars over the next year.
8. If only one company in this industry gets bought out in the near term or far by one of the big boys such as J&J, ALCON, B&L, U.S. Surgical, or Allergan, it will be Visx and it will be at a pricetag of between 60-100 dollars a share. (that's a 1 to 1.5 billion dollar buyout.)
9. If viable superior competition ever does truly make it to the marketplace VISX has two choices. Buy them out with their horde of cash or license them from their extensive portfolio of patents and receive even more procedure and equipment royalty income then ever.
10. Unbelievable as it seems, the market for Laser Vision Correction is real and is growing very nicely. 5 police officers in my 200 man department have undergone PRK at Dr. DellaRusso's New Jersey practice in the last six months and they are telling their friends----just like the other 200,000 who underwent LVC last year are doing the same.
All of these reasons to buy/hold Visx are well reasoned, some based in fact others based on well researched supposition. They have nothing to do with being a true believer or in love with a company. What we have here is strictly a company that is worth more today than its share price indicates and it is my intention to hold Visx until it reaches fair value or gets bought out prior to that time. The same rationale cannot be applied to summit technology since the two companies are wildly different and their track record bears this out crystal clear.
10 Good reasons to sell/avoid Summit technology even at $6/share
1. Inferior equipment--yesterday, today, and tomorrow
2. Horrific reputation--the past is hard to overcome
3. Poor patent position
4. Deteriorating procedure revenue stream due to "LASIK LOOPHOLE"
5. Deteriorating maintenance revenue as more lasers come off contract and are traded in or fall into disuse(internationally and domestically).
6. Lack of machine sales(almost none or perhaps none both domestically and internationally)
7. Not enough cash (50 mill will not do) or "VIABLE" company stock to pursue acquisition of any potential technology innovators.
8. The company is riddled with lawsuits and shareholder malcontent.
9. Earnings are weak to non existent and the future isn't rosy.
10. Company is already overvalued at current 200 million market cap. they have no earnings so what multiple do you assign? Its likely that no multinational company will buy them out in light of their reputation as well as their current technology and weak patent position.
If there is anyone out there who would find it useful to discuss anything I have posted I will be happy to oblige provided we have a reasonable, rational dialogue based at least mostly on fact and well reasoned supposition. Of course there is always room for the occasional SWAG (Scientific WildASS Guess), but let's be reasonable. It will make us all money in the long run.
Best Regards folks
P.S. JRGMD I agree, let's keep talking. I hope all is well with you. I know your center is doing fine so I won't even ask. |
