Mindray Medical (MR)

Mindray Medical (MR) is a developer, manufacturer and marketer of medical devices. From its main engineering and manufacturing base in China, and through a global distribution network, Mindray supplies a broad range of products across three segments:

  • Patient monitoring and life-support products
  • In-Vitro diagnostics
  • Medical imaging systems

 

Nothing wrong with these fundamentals … trends in place, growth at 15%, net margin forecast at 18% and a reasonable projected average P/E in the 20x range.

The recent price gains have “consumed” some of the return forecast — but the PAR is still at relatively high levels, particularly when considering the median return forecast (MIPAR) is near 6%.

Although Mindray is pushing towards long-term resistance and an overbought RSI, there’s a chance that the persistent fundamentals (see business model analysis) will finally “take out” the resistance level. Momentum (ROC) has been strong so we disregard the RSI levels.

Mr 10yr 20130510

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