We are currently rebalancing our 2010 Life Science Portfolio (See under “Articles” at top of WEB site).
We are updating our Diagnostics and Genomics Model Portfolio as follows:
Our winners for a 14 month period YTD are Abaxis (ABAX),Hologic (HOLX), Illumina(ILMN) and Inverness(IMA).
All remain strong holds. Additional holds are GenProbe (GPRO) and Qiagen(QGEN).We are now reviewing Genomic Health(GHDH) and Genoptix (GXDX). SQNM was added as a buy in the low $3’s.SeraCare (SRLS) was added as a buy in Nov. 2009 in the high $2.
Next week we will provide an in-depth review of Immucor (BLUD) as it has good value and could be a long term acquisition play . Immucor is an in vitro diagnostics Company that manufactures and distributes reagent products and systems that test blood cell and serum properties to determine blood compatibility for purpose of blood transfusion.In January Jeffries initiated coverage as a hold and it could be they have something in mind to focus on BLUD. Although Immucor is a mature Company it is still forecasted to grow sales at 8% to the $350M level for fiscal 2011. The market share position is #2 or #3. Earnings are forecasted at $1.22/sh. fiscal 2011 compared to $1.11 May ’10. About $150M of cash is on the balance sheet.PE is 19.20 and P/S is about 5.No significant debt.
The Company had serious manufacturing and regulatory issues last summer and the stock hit the $14 level. The stock hit an all time high of 40 in Q 4 of 2007. 91% of the float is owned by institutions.
Raygent holds a very small position in BLUD