- Visteon Corporation (VC)
- Now a pure play “cockpit” player following divestiture / sale of Halla Visteon
- Strong capital allocation
- Management has been buying a significant number of shares
- $2.9bn market cap and $744m Enterprise value (2.8bn cash & 384 debt)
- United Therapeutics (UTHR)
- $4,995m market cap
- $953m in cash, $5.4mm debt
- Risks
- Competition from Actelion
- Remodulin (largest product) has generic competitor in Summer 2018
- Limited product pipeline