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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (46825)	6/28/1999 3:49:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 120523

Jenna this is called something what??? an outside day reversal???

To: Jenna who wrote (46825)	6/28/1999 11:48:00 PM
From: Jenna	Respond to of 120523

to watch: OSTE (selloff overdone IMHO), PHCM (liked the way it held on, while other nets sold off), CUST should be a lot of volatility tomorrow as well... might want to short after morning highs, glad I sold the puts. SAN FRANCISCO, June 28 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: BancBoston Robertson Stephens senior medical device and medical technology analyst Wade H. King, M.D., today reiterated his Buy rating on Osteotech, Inc. (Nasdaq: OSTE). The company, headquartered in Eatontown, N.J., is a leading processor of cadaveric allograft bone for use in bone grafting procedures. "We are reiterating our Buy rating on Osteotech, following the company's announcement that it will acquire Versalok(R) Low Back Fixation System from Wright Medical Technology for $600,000, plus the cost of inventory," said King. "Following the announcement, certain uniformed investors have circulated comments that the transaction will have a negative impact on Osteotech's second quarter 1999 earnings. We believe that this view is completely erroneous, as the acquisition has been capitalized, effecting the company's balance sheet only. "In our opinion, the recent weakness in Osteotech shares represents a compelling investment opportunity," said King. "We remain confident that the company will meet our second quarter earnings per share estimate of $0.23. In addition, we look for shares of Osteotech to trade to at least 30 times our 2000 earnings per share estimate of $1.35, yielding a price target of $42. If we apply a multiple consistent with the company's 35 percent bottom-line growth rate to our earnings per share expectations, this yields a price target of $50."