| | |
| BUY | 9.000 | Sandy McIntyre | Not really an income trust. A paper clip unit of debt and equity that can be separated and trade separately. Will continue to pay a pre-tax distribution quite comfortably after 2011. Good quality operations and staff. Very cheap. | 2008-08-15 | |
| | |
| PAST TOP PICK | 9.650 | Michael Simpson, CFA | (A Top Pick July 4/07. Down 7%.) Some concerns in the US with a new president possibly changing policy regarding Medicare and Medicaid. Have a new hospital coming on in South Dakota. Expanded into California. Latest results were quite good. | 2008-05-14 | |
| | |
| BUY | 10.000 | Robert Lauzon | Own specialized hospitals in the US. Hospitals are quite small and basically doing day surgeries. Cash flow has been stable. Have been affected with their cash flow coming from the US, Fairly attractive entry point. A lot of risk in this kind of name. | 2008-04-28 | |
| | |
| BUY | 11.250 | Sandy McIntyre | If they could get access to additional capital, there are lots of acquisition opportunities in both hospitals and ambulatory care centres in the US. Long-term health care is a growth industry. Post-2011, he expects they will be in some form of a dividend paying US security. | 2008-02-26 | |
| | |
| TOP PICK | 11.280 | Michael Simpson, CFA | Specialty hospitals in the US. All the cash flow is in US$’s but rising income should offset this. | 2007-07-04 | |
| | |
| BUY | 11.200 | Sandy McIntyre | Run private hospitals in the US. A great business model. | 2007-07-03 | |
| | |
| PAST TOP PICK | 10.700 | Sandy McIntyre | (A Top Pick May 12/06. Up 15.8%.) Still likes. | 2007-04-13 | |
| | |
| BUY | 10.440 | Andrew Guy, CFA | Runs hospitals in the US, so shouldn't be impacted too much by the new trust regulations. | 2007-04-09 | |
| | |
| BUY | 9.980 | Michael Simpson, CFA | Technically it is a corporation with all of its assets in the US, so won't be taxed as an income trust. Demographically, it is a good sector to be in. Undervalued. | 2007-02-23 | |
| | |
| BUY | 9.500 | Andrew Guy, CFA | A demographics play. Potential for a take out if the market doesn't start to reflect the value that a private equity player would put on this company. | 2007-02-08 | |
| | |
| BUY | 9.000 | Sandy McIntyre | US assets, so are taxable in the US. The IPS structure is that you physically own debt and equity and there is 3rd party ownership of both pieces. A great model. | 2006-12-29 | |
| | |
| HOLD | 8.620 | Ravi Sood | Medical facilities, principally in South Dakota. A prime target for privatization by US equity players. If that happens, you'll continue to get distributions and a price of $10 next year. | 2006-11-17 | |
| | |
| PAST TOP PICK | 9.300 | Sandy McIntyre | (A Top Pick May 12. Up .05%.) Runs short-term stay hospitals in the Dakotas. Profitable business model. Trades at about half the value of its US peers. Still likes. | 2006-07-28 | |
| | |
| WEAK BUY | 9.150 | Ravi Sood | An odd one in the Canadian business trust as it is a set of small medical facilities in the US. Represents stable distributions. Extremely well run company. US$ exposure. | 2006-07-21 | |
| | |
| TOP PICK | 9.200 | James Leung | (A Top Pick Jan 27/06. Down 24%.) Was hurt quite a lot because of the perception that currency exposure would hurt. Valuations are compelling. Probably one of the best operators in the specialty hospital business. Cash flow is very secure and their currency hedge protects this until 2008. Payout ratio is 85%. | 2006-06-30 | |
| | |
| BUY | 9.400 | Robert Lauzon | Had a disastrous performance. Still producing a payout ratio of 85/90%. Showing some modest growth. They are 100% US so the market is concerned about the stronger Cnd$, but they are fully hedged until the end of 2008. Good price. | 2006-06-02 | |
| | |
| BUY | 9.350 | Michael Simpson, CFA | A US based trust. They own facilities that do uncomplicated day surgeries. Payout ratio of 85/90%. Trading at 7.5 X cash flow which is a good price. Expect they could buy more specialty hospitals in the US. | 2006-06-01 | |
| | |
| TOP PICK | 9.240 | Sandy McIntyre | Owns/manages “short term stay” hospitals in Oklahoma and Dakotas. Typically do Medicaid, Medicare type operations. Very good at managing margins. There has been a large seller in the market that forced the price down. Affected by currency. | 2006-05-12 | |
| | |
| WEAK BUY | 11.420 | Ravi Sood | Medical facilities in South Dakota. At little bit undervalued because it is a US name. They have delivered and it has worked well. He won’t buy because of the US dollar exposure but one of his favourite names. | 2006-02-10 | |
| | |
|
| TOP PICK | 11.900 | James Leung | US specialty hospitals operating in South Dakota and Oklahoma. Can grow by acquisition. About 10% yield. | 2006-01-27 | |
| | |
| BUY | 12.850 | Robert Lauzon | A core holding in one of their small cap funds. Operate 3 high quality surgical hospitals in South Dakota. Sees some potential acquisitions around the corner. An MRI being implemented in Q3 should add about $2/3 million in EBITDA. Should see some good returns. | 2005-04-08 | |
| | |
| DON'T BUY | 10.700 | Dean Orrico | Have to be a little careful on because of foreign currency exposure. Also not sure how this business will do as a trust. | 2004-11-19 | |
Experts that have talked about Medical Facilities Corp.
Rss Top Picks Feed