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Interested in the high growth prospects of the healthcare sector? For a closer look at some interesting healthcare names, we ran a screen.

We began by screening the healthcare sector for stocks that appear undervalued relative to free cash flow, with P/FCF below 15.

We then screened for those stocks with strong sales trends, comparing growth in revenue to growth in accounts receivable. Since accounts receivable is the portion of revenue not yet received, and there is no guarantee the money will ever be received, the smaller the portion of revenue made up of receivables the healthier the company's revenue.

We screened for stocks seeing faster growth in revenue than accounts receivable year-over-year, as well as accounts receivable comprising a smaller portion of current assets over the same time period.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall.

Do you think these companies have strong sales trends? Use this list as a starting point for your own analysis.

List sorted by increase in revenue over the last year.

1. Prestige Brands Holdings, Inc. (NYSE:PBH): Engages in marketing, selling, and distributing over-the-counter healthcare and household cleaning products primarily in North America. Market cap at $714.12M, most recent closing price at $14.20. P/FCF at 10.66. Revenue grew by 39.06% during the most recent quarter ($134M vs. $96.36M y/y). Accounts receivable grew by 35.68% during the same time period ($60.23M vs. $44.39M y/y). Receivables, as a percentage of current assets, decreased from 41.26% to 40.96% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

2. Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI): Primarily focuses on oncology and hematology. Market cap at $719M, most recent closing price at $12.08. P/FCF at 9.1. Revenue grew by 37.29% during the most recent quarter ($59.86M vs. $43.6M y/y). Accounts receivable grew by 6.5% during the same time period ($55.38M vs. $52M y/y). Receivables, as a percentage of current assets, decreased from 37.26% to 21.07% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

3. Teva Pharmaceutical Industries Limited (NYSE:TEVA): Develops, produces, and markets generic drugs; and proprietary branded pharmaceuticals in various therapeutic categories and active pharmaceutical ingredients worldwide. Market cap at $36.03B, most recent closing price at $38.22. P/FCF at 13.9. Revenue grew by 25.05% during the most recent quarter ($5,102M vs. $4,080M y/y). Accounts receivable grew by 8.61% during the same time period ($6,056M vs. $5,576M y/y). Receivables, as a percentage of current assets, decreased from 46.27% to 40.46% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

4. Kensey Nash Corporation (KNSY): Engages in the field of regenerative medicine utilizing its proprietary collagen and synthetic polymer technology to help repair damaged or diseased tissues. Market cap at $334.69M, most recent closing price at $38.47. P/FCF at 12.44. Revenue grew by 19.2% during the most recent quarter ($22.16M vs. $18.59M y/y). Accounts receivable grew by 2.66% during the same time period ($10.81M vs. $10.53M y/y). Receivables, as a percentage of current assets, decreased from 18.54% to 15.41% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

5. PAREXEL International Corporation (NASDAQ:PRXL): Provides clinical research, medical communications, and consulting services, as well as advanced technology products and services to the pharmaceutical, biotechnology, and medical device industries worldwide. Market cap at $1.67B, most recent closing price at $27.90. P/FCF at 12.43. Revenue grew by 16.74% during the most recent quarter ($412.03M vs. $352.96M y/y). Accounts receivable grew by -0.23% during the same time period ($643.58M vs. $645.09M y/y). Receivables, as a percentage of current assets, decreased from 76.24% to 71.81% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

6. CONMED Corporation (NASDAQ:CNMD): Provides surgical devices and equipment for minimally invasive procedures and monitoring. Market cap at $764.4M, most recent closing price at $27.02. P/FCF at 10.98. Revenue grew by 5.93% during the most recent quarter ($194.32M vs. $183.45M y/y). Accounts receivable grew by -3.33% during the same time period ($142.35M vs. $147.26M y/y). Receivables, as a percentage of current assets, decreased from 41.13% to 40.52% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

7. ICU Medical, Inc. (NASDAQ:ICUI): Engages in the development, manufacture, and sale of disposable medical connection systems for use in vascular therapy applications in the United States and internationally. Market cap at $727.08M, most recent closing price at $51.42. P/FCF at 13.88. Revenue grew by 5.65% during the most recent quarter ($75.51M vs. $71.47M y/y). Accounts receivable grew by -17.51% during the same time period ($41.73M vs. $50.59M y/y). Receivables, as a percentage of current assets, decreased from 22.69% to 15.12% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

8. Sunrise Senior Living Inc. (SRZ): Provides senior living services in the United States, Canada, the United Kingdom, and Germany. Market cap at $382.31M, most recent closing price at $6.57. P/FCF at 7.14. Revenue grew by 4.8% during the most recent quarter ($335.67M vs. $320.3M y/y). Accounts receivable grew by -13.28% during the same time period ($64.66M vs. $74.56M y/y). Receivables, as a percentage of current assets, decreased from 39.85% to 33.41% during the most recent quarter (comparing 3 months ending 2012-03-31 to 3 months ending 2011-03-31).

*Accounting data sourced from Google Finance, all other data sourced from Finviz.

Source: 8 Undervalued Healthcare Stocks With Strong Receivable Trends