IART
Valuemind, the Boston facility is costing them because there have been tons of expenses as well as lost revs. My understanding is it is about .40 eps annually, that is significant. Furthermore IART if they hit there fy 25 numbers of say $3.60 plus is trading, which would be less than 8 times next years numbers for a medical device maker. That historically trade at say 15x or greater, lot of times much greater historically. Also keep in mind the Boston facility generally produces higher margins products so it has hit margins, and NI Greater than the 5% you mention.
I strongly disagree with you on IART, this has all been about Boston it has been a disaster. Nobody says I won't be wrong and it continues to be a disaster. But if Boston comes back, growth turns positive, the Multiple gets a medical device valuation and the stock essentially at least doubles from here within a year. Now if they have a disaster tomorrow, and they tell us the Boston Facility has no hope or it is gonna be a long time yet (Don't expect them to say that, but you never know), and they lose all credibility what so ever, than the whole case of the thesis falls apart.
IART has declined because of Boston this has been going on for a year, and people are questioning alot of things like does management know what they are doing, and if I'm wrong tomorrow I'm gonna be questioning that too myself. But make no mistake multiple come in when you have negative comps (That is all they have been reporting lately), multiple expand when you have positive comps. If you think Boston is coming back with the expenses out of way than FY 25 is gonna have very positive comps, if it doesn't than the IART investors (Like Myself) will be proven wrong and it will not be pretty, in fact the picture is allready not pretty. All is just my opinion, and I could always be wrong though.
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