The stock price of Warsaw, Indiana-based Symmetry Medical (NYSE:SMA), a leading provider of implants, related instruments and cases to orthopedic device manufacturers, has dropped more than 20% in 2013. The stock has been languishing around $8 for the last four months after reaching a 52-week high at $12.83 earlier this year. Weak revenues and earnings due to internal issues in the third quarter caused the stock to correct massively. However, the company generated solid operating cash flow of $14.7 million, while using just $1.0 million for capital expenditures in the quarter. I feel that the correction is overdone and offers an excellent investing opportunity with an upside potential of ~40% over the medium-term.
Symmetry Medical designs,...
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