It remains a source of surprise to me just how many excellent stocks exist in the European healthcare sector, and just how much variety there is. This week we are adding one to our long term buy and hold portfolio, buying it at EUR 24.10. We like its excellent value prospects, and believe the stock has been oversold.
This French company designs, develops and manufactures medical devices, especially the sort of personal devices that patients can carry to treat themselves or provide information to doctors. We think this will be a major growth market in the future. This company owns the tech for a whole portfolio of these devices.
The shares have been sold down from about EUR 35 a year ago but have been in rally mode since October last year, when they could have been bought for as list as EUR 14 on Euronext, which we think was a complete steal for a company of this quality. What we do like to see is a bit of price momentum, which shows that the French investment market is buying back into the story.
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