To: Brewmeister who wrote (4268 ) 4/16/1998 12:26:00 AM From: James Anderson Respond to of 7006
Hi everybody, I've been holding this company for three months, just thought you may want to take a look at it. Take this for what its worth. Cheers, James. Med/Waste Up 12%; J.W. Charles Starts Coverage At Buy By Christopher C. Williams NEW YORK (Dow Jones)--Shares of Med/Waste Inc. (MWDS) jumped to a 52-week high in heavy trading Wednesday after J.W. Charles Securities Inc. initiated coverage of the medical-waste management company with a buy rating. After rising 5% Tuesday, Med/Waste was recently up 11/16, or 12.8%, at 6 1/16 on 329,900 shares, compared with average daily volume of about 26,200. The stock traded as high as 6 7/16 earlier, surpassing its previous high of 5 11/16. Analyst Allan S. Roness told Dow Jones that J.W. Charles bought 100,000 shares of Med/Waste. In his report, Roness called Med/Waste a profitable and rapidly growing participant in the medical-waste industry. In addition, the analyst noted that consolidation in the medical-waste industry should dramatically benefit the company in terms of increased revenues and improved margins. According to Roness, the splintered medical-waste disposal market, estimated at $1 billion to $2 billion, represents a substantial opportunity for an industry consolidator. Med/Waste, which is based in Miami Lakes, Fla., recently has acquired four companies. "Additional acquisitions loom on the horizon," the analyst said. Roness, who expects the stock to reach $9 in 12 months, sees Med/Waste earning 43 cents a share in 1998, on $43 million in revenues and 55 cents in 1999, on $60 million in sales, compared with 26 cents, excluding a one-time gain, on $13.5 million in 1997. Med/Waste's President and Chief Executive Daniel A. Stauber cited the comments by J.W. Charles for the stock strength. -Christopher C. Williams; 201-938-5219; christopher.williams@cor.dowjones.com