In part 2 of this stock research podcast discussing Entellus Medical, we explore the rough an tumble world of how rivals in the medical device industry can vary from raising a hundred million dollars for companies that wind up having minimal revenues and fail, to the foibles of industry giants such as Johnson and Johnson, which can be outwitted by small, nimble competitors such as Entellus Medical.  We also share with you the lurid side of small companies that raise capital from investors who...

Entellus Medical came public in January 2015 under the premise that it was the leader in office-based balloon sinus dilation, which was a small but increasingly preferred niche compares to FESS operations performed in hospitals.  The investment research discussed in this podcast examines whether changes in medicare reimbursement may have been a setback that favored hybrid-FESS procedures, and how steroid implants may have temporarily affected what seemed to be an inevitable shift to treating...

Institutional investors have heard the story that unified communications is under-penetrated, and that soon most businesses will want to buy Plantronics' headsets that incorporate software compatible with Microsoft's Skype for Business cloud-based platform for office workers.  Why has penetration stalled at a fraction of where consultants thought it would have been already?  This stock research podcast provides equity analysis of Plantronics, and discusses why the penetration rate of unified...

Three players are preeminent in the field of precision navigation: Trimble, Hexagon, and Topcon.  Is the competitive dynamic stabilizing?  How are managements dealing with slower revenue growth, and does this mean that end markets are much more penetrated than before?  How rapidly can adoption of building information management (BIM) take place?  What are the implications for profitability going forward?

Trimble Navigation's high-margin geospatial business and its precision navigation systems for farm use have slumped as the dollar has pressured commodities markets.  But the company continues to grow in building information modeling (BIM) software and in mobile solutions for truckers and other fleets and work forces.  Management is seeking to improve profitability, and heavy investment in new features make its precision location software more  indispensable.  As technology continues to...

We described in Part 1 how Cree, Inc. ramped up its headcount in its LED fabrication operation during the major up-cycle that occurred from 2006 through 2010.  Although fewer bodies have been added since then, there's "only" been a 10% reduction in corporate headcount since the all-time peak in fiscal 2014, and LED sales are now back to where they were before fiscal 2010. Although Cree has changed course to emphasize lighting fixtures, the company still suffers from low gross margins and...

Shares of Cree, Inc. are trading at about the same price as they fetched a decade ago, but at this point in time demand for LEDs for use in commercial lighting applications is very robust.  Other companies involved in this area have enjoyed a warm reception from investors, in stark contrast to Cree.  In this stock research podcast, we explore in detail what is happening in the realm of commercial lighting design and construction, and how Cree’s strategy has positioned this innovative company...

Besides having a unique technology, cyrolipolysis, Zeltiq may be able to effectively use this revolutionary platform to address needs beyond the original intention to selectively reduce fat in a non-surgical way.  In 2017, it plans to use CoolSculpting to treat grade 2 cellulite and acne.  Grade 2 cellulite affects a large portion of women, while some other devices target grades 3 or higher, which are characterized by unsightly manifestations like cottage cheese thighs.  By 2018, management...

Zeltiq has single handedly created a new market for reducing fat that targets the moderately overweight segment.  It has become the fastest growing aesthetic treatment, which was already notable for the tremendous demand for neuromodulators like Botox and hyaluronic acid fillers like Restylane and Juvaderm.  In Part 1 of this podcast, we explore how Zeltiq's high margin consumables and systems have permitted the company to break through the barriers that often restrain new aesthetic products....

With the launch of its Roomba 980 vacuum in September 2015, iRobot has added cameras, sensors, and Wi-Fi connectivity.  CEO Colin Angle explains why he feels a roving sensor platform aboard the Roomba places iRobot in a unique position to grab leadership in the connected home of the future, and why fixed-point sensor arrangements such as Nest and Dropcam have suddenly fallen from favor. In an analyst day presentation in New York City, CEO Angle unveiled a new corporate strategy that relies...

Out of the blue we've heard from some smart people interested in this obscure molecular diagnostics company.  Yet it seems few really know what's going on in this space.  All the focus is on the FDA clearance of Luminex's new platform, Aries, which was designed to appeal to hospitals that might otherwise send out complex molecular tests to academic centers or big labs.  In this podcast, Bill Baker, CFA, reveals how despite murky corporate-level profit patterns and excitement about Aries, a...

In 1965 Gordon Moore, co-founder of Intel, made an astounding prediction that transistor density on chips would double roughly every two years.  But few know that at the same time he warned chip fabricators would hit a wall when the geometries involved became as small as atoms or particles themselves.  IN this podcast, Bill Baker, CFA, describes how this nimble provider of precision power equipment has bucked a morose trend in the semiconductor industry and gained market share among a field...

When Synaptics' stock price withered from over $100 per share this summer to the mid-60s, according to Bloomberg a state-backed buyer from China offered to pay $110 per share for the company, and was rebuffed.  What did China see in Synaptics that institutional investors in the U.S. may have missed in this company?  In this podcast, Bill Baker, CFA, tears apart the pieces of the company hidden behind opaque segment reporting and discusses the unique competitive advantages held by Synaptics.

In Myriad's analyst day in NYC on September 14, 2015, management discussed the outlook for several new growth drivers, and it addressed challenges faced in its legacy BRCA1/2 hereditary cancer genetic testing franchise.  We explore what's new, the ins and outs of each opportunity, and delve into the intricacies of companion diagnostics.

Monotype Imaging is regarded as having a unique and somewhat bullet-proof franchise, being a "toll collector" when companies use fonts anywhere from on a laser printer to cloud-based publishing in mobile ads.  But why has there been margin erosion and deceleration of growth?  We explore what's under the hood in this episode...