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A multi-business medical device company that develops, manufactures and markets minimally invasive surgical products.
ArthroCare Ex-Chief Baker Gets 20-Year Term for Fraud
THIS COMPANY HAS IT , YEAR AGO WAS 5$
A strong product leader going into the next boom.
Good growth and earnings.
I have observed Smith and Nephew (competitor) wands in surgery and have sold both Mitek (competitor) and Arthrocare wands from the Sportsmedicine division through a distributorship and demand is strong for Arthrocare coblation wands because, despite shady accounting practices from the Spine division, the coblation technology yields genuinely superior results for my surgeons...I should know because I have been in on over 100 procedures where these wands were used. Strong buying opportunity despite all of the bad news.
"The company has been unable to complete its financial statements for the quarter ended March 31, 2009 and does not expect to file them until the restatement process, the Audit Committee's review of the scope and nature of the Company's internal controls, and management's review of the effectiveness of internal control over financial reporting have been completed"Several lawsuits and an FBI inquiry might be the reason for that. The sad thing is that this company does have technologically superior products. I would have bought them at this price if it wasn't for dishonest management.
This stock dropped due to financial statement innacuracies that made the company restate. The drop was due to a panic sell. I say 6 months to a year.
SCAM COMPANY... SEE CITRON RESEARCH...CFO just left and they will likely be sued - nothing likely left after this plays out.
The huge drop in price is an overreaction from a very volatile market that seems to panic at every little bit of bad news.
This stock is projected by Value Line to double earnings in the next five years, has actually doubled earnings in the past five years, is selling at price-earnings multiples (P/Es) that are 110 percent or less of Value Line's projected earnings growth rate, and has a safety rating of average or better.
Several large insurance companies are going after the medical providers and attorneys who do business with Arthrocare/Discocare. Insurance fraud seems just the tip of the iceberg. Here in Palm Beach County, FL, where I live, several defense attorneys are vigorously fighting against claims involving patients treated under the "Discocare Model" by the subject doctors.Thre are at least 3 class action suits pending in Florida alone against Arthrocare related to false financial statements resulting from alleged fraudulent "upcoding" Discocare's billings. As more and more information is revealed in court filings, this company's stock will go nowhere but down. It is only a matter of time.Stay FAR away from this stock!
A hokey scam that is riddled with lawsuits.
CItron zaps another one...this one is a scammer and will go down the drain with all the fraud they committed.
They are all smoke and mirrors.
Medical device. Somewhat recession proof
Their relationship with Discocare appears to have not been properly disclosed. I think we'll see significant legal and insurance challenges in the very near future.
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