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Are these beaten down ASX shares in the bargain bin?

Earlier today I wrote about a few shares that had just reached 52-week highs or better today.

Unfortunately, not all shares have been so fortunate. In fact, some have made the unwanted milestone of a a 52-week low today.

Three that did this are listed below. Are they in the bargain bin?

The Experience Co Ltd (ASX: EXP) share price fell to a 52-week low of 45.5 cents today. This adventure tourism company has come under significant pressure this year after a once-in-a-generation weather event impacted many of its businesses. While this is undoubtedly a disappointment, I expect the company to bounce back strongly next year should weather conditions permit. This could make it well worth considering a small investment whilst its shares are down so low.

The Medical Developments International Ltd (ASX: MVP) share price dropped to a 52-week low of $5.04 today. Two disappointing announcements have been behind the healthcare company’s 43% year-to-date decline. The first was a trading update in May that revealed that sales would be flat at best in FY 2018. The second was an announcement released last week advising that the U.S. Food and Drug Administration has suspended the clinical program for its Penthrox pain management in the USA. Unfortunately, it could be upwards of two months before the company receives a letter outlining the regulatory body’s outstanding issues and concerns. I suspect its shares will remain under pressure until the receipt of this letter.

The Pendal Group Ltd (ASX: PDL) share price hit a 52-week low of $8.90 today. The fund manager, previously known as BT Investment Management, has fallen out of favour with investors after it released a weak funds under management update. In the last quarter its JO Hambro business in the UK saw net fund outflows of $1.1 billion. In addition to this, Westpac Banking Corp (ASX: WBC) is believed to be wanting to offload its remaining stake in the company. While it looks cheap, I would hold off an investment until its funds under management are heading in the right direction.

Instead, I would be buying one of these top buy-rated shares.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of EXPERNCECO FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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