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21 Stocks to Watch This Week - 11223 views
The following commentary comes from an independent investor or market observer as part of TheStreet’s guest contributor program, which is separate from the company’s news coverage. The opinions expressed are those of the author and do not represent the views of TheStreet or its management.
NEW YORK (Scott's Investments) -- Below is a list of several stocks to watch this week. Each week I publish stocks to watch for the upcoming week as potential momentum trades or longer-term investments. The stocks below all have a 50,000 minimum average daily share volume and traded at a 52-week high on strong volume, with a minimum of two times relative volume on Friday, July 22. In addition, stocks were required to close Friday higher than the open price.
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The full list with weekly performance is tracked on a spreadsheet on the right-hand side of Scott's Investments. This week should be interesting as the debt ceiling debate continues. I typically try to ignore the news and macro events. However, as with last week, it will be important to follow the debt ceiling debate this week as it will impact the markets and any of the stocks mentioned in this list.
Metropolitan Health Networks
Metropolitan Health Networks (MDF) operates provider services network in the U.S. Its PSN provides and arranges for medical care primarily to Medicare advantage beneficiaries who participate in a Medicare advantage program, as well as offers primary care physician services to non-Humana participating customers. The company has been featured several times on Scott's Investments, most recently in June as a low-PEG, high-momentum stock.
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The company has a $232 million market cap and currently trades at a forward P/E of 7.86 and a price-to-earnings-growth ratio of 0.9 and has no long-term debt. It has a return on equity, assets, and investments all above 35%, which is rare for a company in any industry, and a five-year average for the three ratios all above 20%.
In June, the company announced it was acquiring Continucare for cash and stock, and MDF plans to issue 2.7 million shares in connection with the transaction. The market initially reacted lukewarm to the deal but since then the stock is up 17.92% for the month. The company announces earnings August 1st, so as it reaches a 52 week high it will be interesting to hear managements comments on the CNU acquisition and see the market's reaction to earnings:
Daily chart courtesy of Finviz
Triumph Group (TGI) engages in the design, engineering, manufacture, repair, overhaul and distribution of aircraft components. The company operates in two segments: aerospace systems and aftermarket services. It announced earnings on July 29, soundly beating estimates. It reported quarterly revenue of $845.1 million (vs. expectations of $805.4 million) and quarterly earnings of 99 cents a share (vs. expectations of 85 cents a share).
It projects 2012 earnings per share at $4.35 per diluted share. With earnings having been reported and no near-term catalyst, the stock could still be one to continue to watch in coming weeks and months depending on the overall equity market sentiment.
At the time of publication, author had no positions in stocks mentioned.
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