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Friday, 12 December 2003
December 12, 2003 Polymedica (PLMD) revisited
Hello Friends! I scanned the lists of % movers again today and frankly am having a hard time finding any new stocks I like. I did see that Polymedica made the list today...and decided maybe we should take another brief look at this stock. PLMD was first posted in my BLOG on 8/18/03 when it was trading for $46.05 on 8/18/03. PLMD had a 2:1 split on 9/29/03 so the adjusted price for this pick is $23.03. PLMD had a nice day today and closed at $24.40 up $2.28 on the day.

On October 28, 2003, PLMD announced their second quarter results. This was reported on Yahoo.com as picked up from BUSINESS WIRE. Second quarter net revenues were $105 million, up 20% from the prior year, Net income was $12.1 million, up 23% year over year, and diluted Earnings/share were $.47 up 21% from the prior year. These were very nice results.

Morningstar.com shows the steady growth in revenue from $156.9 million in 2000, $220.0 million in 2001, $279.7 million in 2002, $356.2 million in 2003 and $373.5 million in the trailing twelve months.

Earnings/share have climbed from $.39 in 1999 to $1.19 in 2002, dipped to $1.02 and is $1.69 in the trailing twelve months.

Free cash flow is still excellent at $6 million reported in 2001, $8 million in 2002, $7 million in 2003 and $14 million in the trailing twelve months.

Assets/liabilities look very nice also with $32.6 million in cash and $88.3 million in other current assets easily covering BOTH the $22.4 million in current liabilities and $22.7 million in long-term debt.

By the way, I do not own any shares of this stock...but it DOES look attractive. According to money.cnn.com, PLMD "...is a nationwide provider of direct-to-consumer specialty medical products and services, primarily focused on the diabetes suppply and consumer healthcare markets."

Looking at Yahoo.com, at "key statistics" from the finance section, we find that the trailing p/e is a very reasonable 13.92, the forward p/e (fye 31 Mar 05), is even nicer at 10.79, the PEG ratio is BEAUTIFUL at 0.51...one of the lowest on this site!!!...and the price/sales nice at 1.45.

The market cap is $623.57 Million and there are 25.56 million shares outstanding with 19.80 million of them that float. Perhaps interesting statistic is the outstanding short position which is LARGE at 4.20 million shares as of 11/10/03 (per Yahoo.com), this IS down from the prior month of 4.79 Million shares. The current short interest amounts to 12.552 trading days of volume. We may be witnessing a SHORT SQUEEZE in here??? Now get this, on top of everything else, this stock PAYS a dividend! According to Yahoo, they pay $.60/share for a dividend yield of 2.71%.

The last stock split, as I have already mentioned, was according to Yahoo.com a 2:1 split on 9/30/03.

I really DO like this stock. Now of course I want you all to promise to discuss any stock idea with your investment advisor before acting on it. This stock may or may not be suitable for you and there sure ARE a lot of investors out there who are betting AGAINST this company. I just don't see why....Thanks again for stopping by! If you have any questions, comments, or words of encouragement, please feel free to drop me a line at bobsadviceforstocks@lycos.com

Have a GREAT weekend!

Bob


Posted by bobsadviceforstocks at 4:27 PM CST | Post Comment | Permalink

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