>>The story at Given Imaging is different. The share’s slide began in late 2004, when it was $47, to a current price of $19, a loss of 60%. In contrast to Syneron, Given Imaging’s share fell because of falling sales and profits, so the drop in justified. The question is whether the previous climb was justified. Definitely not; it was driven by the intense enthusiasm generated by the company’s results and hopes that it would repeat the success of the endoscopic capsule for the small intestine with its capsule for the large intestine, rather than the actual numbers.
When investors realized that the new capsule was not yet on the market and that many more permits were needed to enter new markets, the share reached a temporary peak, and began to slip. I’ve heard in recent months that progress is being made on both the capsule and the permits.
Given Imaging’s management has been replaced and Elron Electronic Industries Ltd. (Nasdaq: ELRN; TASE: ELRN) strongly believes in it. 2006 was a lost year as far as business is concerned; it was a year of adjustments. Analysts claim that the company will see a leap in sales and profits in 2007. Nevertheless, they still give the share a “Hold” recommendation. It’s very worthwhile to begin monitoring the company’s activity, because things develop quickly in this industry. >>
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