Monday, June 05, 2006

Hit #99

Laserscope (LSCP) is being acquired by American Medical Systems in an all-cash deal valuing the company at $715 million. The offer price, of $31/share, is a premium of 39% over my average cost of $22.23/share.

After watching Laserscope for a while, I had bought some shares not too long ago on a sharp pullback. American Medical Systems (AMMD) itself looks attractive and will be a long-term growth story.

Many other players in this field remain attractively valued. Among them, Intralase (ILSE), Candela (CLZR), Cynosure (CYNO), Syneron (ELOS), Iridex (IRIX) are on my watch list. I own a few Intralase shares, and will likely add a few of Cynosure soon. While Candela and Syneron also look like good buys, I haven't looked into them seriously.

I had also opened a small position in Cutera (CUTR) just 2 weeks ago. The stock saw a huge bump, of 35%, today after a patent suit was settled with Palomar (PMTI). I will be holding onto my Cutera shares, but won't be adding to my position until another pullback.

Previous hit - Jameson Inns (#98)


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