I gave this stock pitch on Masimo as part of my application for the Applied Investment Management course here at Kenan-Flagler, where students make investment decisions for a $2m+ portfolio.
Hopefully it was deserving enough to earn a spot in the class!
If you have trouble with the format below, here is a Google Doc link.
The presentation is based on my original report, just in a slightly different format, although I made some modifications to the multiples & valuation method to reflect the FDA approval of the Pronto-7 device (which relieves some of the uncertainty around future growth).
The company reports FY results tomorrow, and I’m eager to hear management’s comments on the outlook for 2012.