not trying to be rude, but this is the value investing thread, not the buy at all time highs thread

anyone looking at the beaten down healthcare names like TEVA MYL CVS or NVO?

Some of the best advice in this thread!

I have MYL and CVS

hard to say... probably healthcare is the new bank sector. probably they will trade at very compressed multiples for a couple of years, unless there is some game changer.

I like NVO of those, div is good, probably it could go down, and of course you have to add below $30.

Mylan and teva, can't mantain such high margins if the donald cut the prices on drugs.

no opinion on CVS
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any thoughts on ENDP ? it's trading like it's going broke. fwd pe below 4, pb below 0.6. margins are negative, I just had this on a screener today... I don't know the back story.

Not sure if anyone is following ELXS but i sold most my shares on the run up above $35 here recently. I held in tax free accounts so didn't have to consider tax impact. I think theres been a somewhat reckless buyer hitting the ask on the stock as there hasn't been any news from the company to justify the run up in my opinion and I thought the most recent earnings implied growth rates may be slowing. The stock is now trading at its highest multiple since i've been following the company (EV/EBITDA: 7.5x ish). If the company gets sold there will probably be some upside I miss out on but otherwise i think i'll be able to buy this back at a lower multiple/price in the future. If i held in taxable account i probably won't sell. Still like the business a lot.

I'm following it but the liquidity is horrifying. Were you the seller in all these transactions?

I'm long TEVA. They've been hit a bit too hard by recent news, and they're the biggest players in generics so they still stand to benefit from any anti-pharma changes.

There's also weed upside with the syqe inhaler.

If any of you are members at corner of berkshire and fairfax, theres a solid research write up on NVTR, which was a spinoff from Great Batch a few months back and currently trades for less than net cash. This guy is very bullish, no idea if he is right or not but his research is very thorough. He clearly has spent a lot of time on the company.

http://www.cornerofberkshireandfairf...r-nuvectra/10/

Looks interesting. A few things that caught my eye...

- If the Algovita product is so great, why haven't sales taken off in Europe? It's been available there since November 2014.

- "We have expanded our sales management team in an effort to mitigate the challenges we continue to experience in gaining approvals from hospital and ambulatory surgery center purchasing departments".

- How did they determine the fair value for the buyout of non-controlling interests?

I took a small position a couple weeks back

I've owned it for a while now. Not much to do beyond hope that the sales teams can start delivering in their respective markets. Overall it's a booming industry, up here in Canada the wait times just to see someone about this are through the roof. But I think overall it's still something people are just starting to wrap their heads around. Obviously there was a big market for the truly desperate people who would try anything (8/10 pain all the time or worse), and that market was well served by the first iterations of these devices. I think as people become more trusting of the tech the growth could really be spectacular. But obviously it's a very competitive area.

I think Q3-Q4 next year is when I decide to cut it loose or not. They've got until then to show me their sales teams can make incremental improvements.

Spent my morning at work reading this, and some of their disclosures. Fascinating, thanks for sharing. Might initiate a small position.

better write up and discussion on value investors club. it was written up in spring so its available to non members now

Hi Guys,

I was looking into NVTR a couple of months ago and my main concern was how long they can maintain liquidity without making a profit. I know they have a good amount of cash on their balance sheet at the moment but I noticed they have to achieve a trailing 6 month revenue of 13.5m by June 17 to access their next loan from the credit facility (term loan B). This looks like a significant obstacle to me.

Also their agreement with Greatbatch (in the form 10) seem to place restrictions on them with regard to ceasing operations/liquidating the business and maybe on large sales of equity?etc.

Any thoughts?

you guys have any names you like under $75m market cap at current prices? Lots of names have been running up on me.

JVA has been mismanaged for a long time. It was actually below net tangible asset value around $3. Then the market came around after a good quarter and realized Hey! Wholesale coffee is actually a good business! Its downtrending. Hope it hits the 2's.

Somewhat familiar with the company. Heard the CEO present about a year ago, wasn't a fan. I want to say he was talking about speculating/trading coffee futures with company cash and i immediately lost interest.

TIXC. Its a ticket broker for shows in Las Vegas. CEO takes a hefty salary and recently revenues have dropped, but they still have a bunch of NOLs and at these levels the dividend comes to about 13,5% a year.

was a writeup last year on SA:

http://seekingalpha.com/article/3961...side-potential



Also they made a partnering deal with Exepedia last year, waiting for the annual report to see if that has been having any effect.

I like PIRS a lot, was a big day for longs yesterday but really from a value perspective in my mind, it's still about the same in relation to where I see this being in 5-6 years.


I'm expecting to see the % of institutional holding rise on this steady through 2017-2018. Their IP is just ridiculously robust if you take the time to read what they're sitting on: http://www.pieris.com/

You will rarely see a pipeline this diverse and their partner list is impressive: http://www.pieris.com/pipeline/overview

Obviously they won't take them all into phase I, but they're just stacked. I think the market doesn't love Yoder as CEO since he's not one to take a drug to market (likes to sell them off way before). But in this case I think they eventually would like to unless they're bought out.

It's at 100m, but one company I am planning to look at later is TWMC, a value stock that is trading below NCAV and has attracted purchases from value vulture Lloyd Miller.

If someone has any additional thoughts on it, please post.

familiar with TIXC. Not a bad little company but i'm trying to find opportunities where i can make 20%/yr (preferably for 5+ years) and I just never felt that was possible with this company. If i was a dividend investor shooting for 10% returns i'd say its definitely a decent option. CEO makes too much money too.

Piqued my interest since I love looking at companies that sell disregarded items like CD's and DVD's.

Took a few minutes to look at a proxy, definitely not too thrilled with the new CEO having almost zero equity...the founders wife his six times as many shares as the CEO...yikes.

600k salary and no equity, track record is nothing to write home about from what I can tell.

Interested to hear your thesis.

Familiar with TWMC and Lloyd Miller. Just such a piece of junk, it could only be part of a basket approach for me and i like to be concentrated so i've always passed on it.

Not normally a company/industry i'm interested in (looks expensive/speculative on surface, losing lots of $, biopharm). What do you think their next 12 months revenue will be?

Have to look at their trend products which is higher margin and growing in double digits. Also etailz seems to be very high growth and work well with their trend products. And etailz guys kept fair amount of TWMC stock and it seems like they paid a fair price for it. I think it looks on the cheap side, but not cheap enough to be interesting. It is possible though that it trades on single digit earning multiple like 2 years out. But I cannot figure out etailz moat and whether their trend stuff is actually a fad. Anyone here been in their stores?
Check out Rentech, Onvia, Addvantage tech and CTI industries, Bluelinx. My fav US small caps atm in that order.

Others but less interesting are Pendrell corp, China xd plastics, Cinedigm, Spanish broadcasting.