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Biotech / Medical : The Stock for 1999(Polymedica)PLMD(Medical Supply Co.)
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To: Sam who wrote (1498)7/22/1998 4:23:00 PM
From: _DB  Read Replies (1) of 3414
 
Sam & company,

I spoke with the company today and came away very pleased with my investment in Polymedica. Their business is running strong, sg&a expenses are under control, their market size has the potential to grow dramatically with the addition of non-insulin dependent diabetics, they have a competitive advantage in their field, and they are extremely conservative in their financial reporting - they have reserves if needed ($5.4 million reserve for bad debts and sales allowances - 24% of total A/R).

In addition, with this conference call management is recognizing the need to communicate with the investment industry, and that is a welcome change. It is also likely that at least one "name" firm will initiate coverage of Polymedica during this upcoming quarter. Also of some note is that Oscar Gruss & Son slightly raised revenue and eps amounts for the upcoming year and reiterated a $15 target, which is probably conservative.

Where's the risk ... competition, but it seems like Polymedica has established that competitive advantage. The other risk, that a cure for diabetes is found, is one that I would be more than willing to lose some of my investment on. If we can find a cure for this very serious disease (ask someone who has it), it would be worth taking a loss on my tax return. But a cure does not appear to be anywhere on the horizon at this point.

I welcome any other thoughts.

DB

P.S. I'm out of posts on the day, I'll get back tomorrow.
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