We are adding to our Thermo Fisher (TMO:NYSE) and Halyard Health (HYH:NYSE) positions, buying 350 shares of TMO at about $127.81 and 600 shares of HYH at about $46.33.
We initiated Thermo Fisher Tuesday. We like the company's scale, market leadership, consistency of execution and shareholder returns, intelligent capital allocation strategy, disciplined operations and seasoned management. Since our initial position was a bit light (2% of the portfolio) and given our substantial cash position, we feel comfortable bulking up our stake.
On Halyard Health, the stock has come in since our initiation and following its fourth-quarter 2014 earnings, presenting us with a compelling entry point. We believe that the period between now and its first-quarter 2015 results offers investors the last chance to get in the name at a discount. We were restricted on trading this for most of last week and early this week, and now that the restriction is lifted, we are excited to make HYH a large, core holding in our portfolio.
Zix Corp: Topeka Capital Markets discusses Cisco announcement; (4.30)
Topeka Capital Markets reiterates their Buy rating and $6.25 PT on the back of an announcement yesterday that Cisco Systems (CSCO) will shift from being an email encryption competitor to an email encryption OEM partner which should speak volumes related to the ZIX email encryption service. Zix has now circled the wagons on the market, save one major competitor and a bunch of ankle biters. They note the lone hold out of the prominent vendors is ProofPoint (PFPT).
05-Mar-15 11:00 ET 2015-03-05
Zix Corp and Cisco (CSCO) have entered into an OEM relationship for the development and distribution of enhanced email encryption solutions (4.10 +0.19)
The partnership will focus on two solutions in 2015 -- an enhancement of the Cisco IronPort Encryption Appliance and a new solution that integrates proven components of Cisco and Zix technology. Both solutions will be distributed by Cisco.
Reports Q4 (Dec) earnings of $0.03 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of ($0.00); revenues rose 11.1% year/year to $81.75 mln vs the $70.83 mln consensus.
•"We are pleased that our execution through the second half of 2014 has translated into a record backlog and strong fourth quarter results, driven by significant improvements in the profitability of our utility infrastructure business, record LED margins and contributions from our mission critical acquisition."
•"We believe these results, combined with our record backlog, robust pipeline and strong operational focus, position PowerSecure for meaningful top and bottom line growth in 2015."