Syneron Medical Ltd. (ELOS)

pytheian (94.00) Submitted: 5/18/08 5:15 PM : Start Price: $14.95 ELOS Score: 8.98

Flat price movement past few years has given us a relative bargain:

- 1.06x PEG, 14.9x P/E among lowest in medical device industry
- Strong margins - 79.6% Gross, 20.9% Op, 21.8% Net
- 13.7% TTM Rev Growth (slowed to 5.4% MRQ though)
- Highly efficient for segment - returns 13.9% on Equity, 12.1% on Assets, 13.5% on Investment
- Manages that return w/o debt
- Has increased Shareholder Equity, Revenue, Op Cash Fow strongly for 5 straight years
- Institutions own >50% of float already

I can't see fundamental demand for its "products, which it sells primarily to physicians and other practitioners, target a range of non-invasive aesthetic medical procedures, including hair removal, wrinkle reduction, rejuvenation of the skin’s appearance through the treatment of superficial benign vascular and pigmented lesions, acne treatment, treatment of leg veins, treatment for the temporary reduction in the appearance of cellulite and thigh circumference, and one minimally invasive product, which it introduced in February 2008, for laser-assisted lipolysis" falling anytime soon.

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