We continue to feel the market is tired and in need of a little pullback, so looking for stocks that are in the same condition. We had some notable success with this strategy already, racking up two 20% gains in the space of 1.5 trading days.
Bio-Reference Laboratories (BRLI)
What do they do? Bio-Reference Laboratories, Inc. provides clinical laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases primarily in the greater New York metropolitan area.
Some metrics (Yahoo)
- Market cap $545.5M on 28M shares
- Revenue $558.6M
- Cash $22M, with debt at $34M
- Eps was $1.16 last year, it will be $1.39 this year, rising to $1.66 next year (their year ends in September)
Now, there is good news to warrant the rise in the stock price:
- They’ve announced a stock buy-back program of up to 1M shares
- Their full-year 2012 guidance is higher than expected, net