Ansell appears to be doing all the right things. They are slowing their acquisitions this year, which gives them time to consolidate their recently acquired businesses, plus it allows them to buy back shares, strengthen their balance sheet, which all together will have them ready for the next opportunity.
They are not overly geared, great track record, innovative, and they tick all the Warren Buffet boxes that I read.
I bought the shares slightly above the current price, so I think it is under valued. Net debt is less than 2 x EBITA, it making great cash flows in very safe businesses. The US currency has appreciated, but as we are trading in AUD we have a natural hedge.
What am I missing, why is it so much cheaper than other stocks at the moment?
Thanks
ANN Price at posting:
$17.22 Sentiment: Buy Disclosure: Held
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