Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on STRATEC BIOMEDICAL AG. We currently have 3 research reports from 1 professional analysts.
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STRATEC BIOMEDICAL AG
STRATEC BIOMEDICAL AG
Excellent strategic fit with integrated consumables
15 Jun 16
Stratec, a designer and builder of automated OEM diagnostic systems, has announced its intention to acquire an Austrian business that designs and manufactures complex precision consumables for high-end biomedical and diagnostic systems. This is an excellent strategic fit as it will allow Stratec to integrate high-value consumables into system designs and accumulate recurring revenues: Stratec expects a 20% CAGR to 2020 on DADC 2015 sales of €17m. Stratec is experiencing reduced Chinese orders and the guided 5% EBIT of DADC may lower the 2017 EBIT margin to 17%.
Hungary Haematology offsets Chinese famine
04 Apr 16
Stratec, a German designer and builder of automated OEM diagnostic systems, has revised its core business guidance for 2016 and 2017 due to volatile client forecasts arising from sales uncertainty and local competition in China. Preliminary 2015 results showed revenues up 1.4% to €146.9m and an improved EBIT margin of 18.3% due to higher service part sales. The about €67m Diatron acquisition adds about €25m revenue in FY16 and €37m in FY17, taking our 2016 consolidated revenue forecast to a revised €176m, with 2017 revenues potentially at €198m. Diatron’s EBIT margin is assumed to be 17%, similar to Stratec’s core business.
Steady progress, expected acceleration
02 Nov 15
Stratec, the German designer and builder of automated OEM diagnostic systems, is poised for rapid growth in 2016 and 2017 due to the intensive level of activity on new systems in the late-development and pre-launch, ramp-up stages. A new development area of liquid cancer biopsy analysis is being developed plus smaller, flexible systems. Revenue CAGR guidance remains at 8-12% for 2013-17, so growth should be stronger from 2016. Management expects FY15 EBIT margin over 17.9%. It is considering acquisitions that may affect dividends; Q3 cash was €54.7m.
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
16 Mar 17
4imprint (FOUR): 6% dividend yield for a growth stock? (BUY) | Cambridge Cognition* (COG): Amgen uses CANTAB technology in trial (CORP) | Seeing Machines* (SEE): H1 results show steady operational progress (CORP) | Allergy Therapeutics (AGY): Pollinex Quattro Birch Ph III EU trial starts (BUY) | Capital Drilling* (CAPD): FY results in line, with turnaround in exploration activity (CORP)
N+1 Singer - EKF Diagnostics - Final results & potential buy back
20 Mar 17
FY16 prelims are slightly ahead of our latest expectations, those having been increased materially over the course of H2’16 as the strength of the recovery in trading became apparent. In order to maximise shareholder value, the directors are currently examining a potential break up of the group. This would also involve a delisting from AIM. A buy back offer at 21.5p would therefore be made to those investors that wish to exit now rather than holding their shares for the two years plus it would likely take to achieve a potentially higher realisation value for the businesses.
N+1 Singer - N1S Trend spotting - Strategy update
08 Mar 17
In this new product we present some strategy theme updates arising out of our latest analysis of macro trends and economic data and our innovative Quant work. We also look at upcoming events and suggest topping up on some of our Best Ideas for 2017.
Good results, but further restructuring complex for investors
20 Mar 17
EKF Diagnostics FY 2016 results are slightly ahead of expectations, with both higher revenue and better EBITDA. Management has also announced plans to split the company into two separate companies, Point of Care and Laboratory Diagnostics, with the prospect of a delisting to manage the process. The primary metric for valuation of the two businesses is different consequently we believe that the separation is likely to generate significant value. However, in anticipation of the volatility likely given the restructuring announced this morning, despite the strength of the results, we reduce our recommendation to HOLD and maintain our 21p target price.
Panmure Morning Note 15-03-2017
15 Mar 17
We expect EKF Diagnostics to announce FY 2016 results on 21st March. EKF has had a transformational year and has released three positive trading updates since the interim results in September. We expect the results to give more granularity on where the improvement has come from enabling us to have more confidence in future growth rates. We maintain our 21p target price and BUY recommendation ahead of the results.