Pro Medicus Limited (ASX: PME), Catapult Group International Ltd (ASX: CAT) and Nearmap Ltd (ASX: NEA) shares are three small ASX companies I am watching closely in 2017.
Pro Medicus
Pro Medicus is a technology business focused on developing a medical imagery solution for hospitals. The $511 million Melbourne-based company has successfully rolled out its key product to Australian and US hospitals.
The Visage 7 solution is both time and cost effective for doctors and radiologists who wish to send and receive images to smart devices. They are some of the reasons why it has been so successful.
The company has enjoyed explosive share price increases in recent years. Over the long run, I think the company could move higher. However, its current valuation is quite stretched.
Catapult Group
Catapult is a Melbourne-based sports technology company, which is a leader in GPS tracking and video analytics. Having signed major sporting teams across basketball, soccer, AFL, rugby, and cricket, Catapult has become a globally diverse business.
Recently, Catapult shares have been sold down amid concerns over its profitability and a potential capital raising. However, Catapult has and always will be a more speculative investment given it is an early stage business in a relatively new market.
Nearmap
Nearmap is a geospatial imagery business, taking crystal clear photos for commercial purposes. Think Google Maps but clearer and more regularly updated.
Nearmap has expanded its operations into the USA, which now appears to be taking shape. Like Catapult, a recent fall in the company's share price could provide an opportunity for savvy long-term investors. However, it is a higher-risk investment idea, in my opinion.
Foolish Takeaway
Hiding further down the Australian share market are some great companies. However, there are many more poor companies. Therefore, it is important to take your time, do your homework and control your fear of missing out.
In my opinion, these three companies are worthy of a spot on long-term investors' watch lists in 2017.
