Brean Murray Assumes Coverage on China Medical Technologies (CMED) with a Buy
CMED Hot Sheet
Rating Summary:2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 25 | Down: 12 | New: 36
Brean Murray assumes coverage on China Medical Technologies (Nasdaq: CMED) with a Buy.
Brean analyst says, "We are assuming coverage of CMED with a Buy. Last October, CMED paid a fair price of $345 million for its HPV business, in our view. The company's market cap is now ~$399 million. So FISH and ECLIA must be almost free. Given the company's strong growth potential and earnings resilience, we believe valuations are not demanding, with mid single-digit multiples and a dividend yield better than the 10-year treasury and the coupons on the company's own outstanding convertible."
China Medical Technologies, Inc. is a China-based medical device company that develops, manufactures and markets in-vitro diagnostics (IVD) products using chemiluminescence immunoassay technology, magnetic antibody immunoassay technology and fluorescent in situ hybridization technology, to detect and monitor various diseases and disorders.
Brean analyst says, "We are assuming coverage of CMED with a Buy. Last October, CMED paid a fair price of $345 million for its HPV business, in our view. The company's market cap is now ~$399 million. So FISH and ECLIA must be almost free. Given the company's strong growth potential and earnings resilience, we believe valuations are not demanding, with mid single-digit multiples and a dividend yield better than the 10-year treasury and the coupons on the company's own outstanding convertible."
China Medical Technologies, Inc. is a China-based medical device company that develops, manufactures and markets in-vitro diagnostics (IVD) products using chemiluminescence immunoassay technology, magnetic antibody immunoassay technology and fluorescent in situ hybridization technology, to detect and monitor various diseases and disorders.
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