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Health Care – Life Science & Diagnostic Tools: 2012 Third
Jon Wood rises from runner-up, where he debuted last year, to third place.
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Jon Wood rises from runner-up, where he debuted last year, to third place. The Jefferies & Co. researcher “has a deep operational understanding of the underlying businesses, with a real valuation framework,” says one fan. Although Wood is cautious for the remainder of the year — owing to what he calls “the persistence of funding overhangs in the U.S. government and academic markets, cyclical headwinds in economically sensitive industrial franchises and uncertainties over the U.S. reimbursement landscape” — he believes the sector will outperform the broad market by a wide margin over the next five years, in large part because of the companies’ high pricing power and long-term growth prospects. In January he reiterated his buy on Washington-based analytical-instruments maker Danaher Corp., at $48.53, citing ongoing structural improvements following last year’s acquisition of Brea, California–based diagnostics company Beckman Coulter. The stock advanced 10.4 percent, to $53.57, through August. |