John Leonard, CFA
Special situations, micro-cap, contrarian, CFA

American Shared Hospital Services A Growth Stock With A Value Multiple

Key takeaways

    American Shared Hospital Services (NYSEMKT:AMS) trades at a discount to its intrinsic value and closest peers due to concerns over a cut in the Medicare reimbursement rate and a high debt load. The current valuation overcompensates for the former (especially given recent positive developments) and ignores the growing cash flow to reduce the risk of the latter. Moreover, superior technology solutions continue to drive increasing patient and medical center demand, which should translate into accelerating growth and greater revenue visibility for the foreseeable future. Furthermore, a minority investment in a promising, privately-held medical device company may be carried on the balance sheet at a significant discount to market value and provides access to revolutionary technology, which ...
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