Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on STRATEC BIOMEDICAL AG. We currently have 4 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 22-02-2017
22 Feb 17
CORETX (COR LN) Contract wins and new Lifestyle facility | Gooch & Housego (GHH LN) Solid Q1 trading plus earnings enhancing acquisition of StingRay Optics | NCC Group (NCC LN) Further issues in Assurance | PCI-PAL (PCIP LN) Strong H1 underpins positive outlook | UBM (UBM LN) Results | Verona Pharma (VRP LN) Phase IIa RPL554 add-on trial to tiotropium commenced
Panmure Morning Note 15-02-2017
15 Feb 17
With the early January trading update having prompted us to upgrade forecasts, today’s interim results show how the group’s focus on areas such as product development and international sales are translating through to growth in both the top and bottom-line. The consistency of delivery is what impresses us, reflecting the maturity of the management team and the clarity of the longterm vision. We repeat our Buy recommendation.
N+1 Singer - Morning Song 21-02-2017
21 Feb 17
Abzena (ABZA LN) Contract bookings strong; US costs higher than expected | City of London Investment Group (CLIG LN) Earnings and interim dividend in line, some modest growth in FuM | dotdigital Group (DOTD LN) Good H1; broadening avenues of growth | Grafenia (GRA LN) Weak print volumes | Vernalis (VER LN) Interims highlight increasing Tuzistra™ scrip volume
Panmure Morning Note 20-02-2017
20 Feb 17
Chi-Med has announced the initiation of a Phase II study of savolitinib in locally advanced or metastatic pulmonary sarcomatoid carcinoma (PSC) in China. This is a disease where patients are usually diagnosed by normal pathology (i.e. not via molecular diagnostics methods) but given that 20-30% of PSC patient show c-Met gene amplification this potentially represents a very rich patient pool for savolitinib as a highly selective and potent oral c-Met inhibitor. The continued strength of Chi-Med’s clinical momentum is further demonstrated by today’s news and we consider this represents further upside potential against our existing investment case. We repeat our Buy recommendation.
Discovering a sustainable model
21 Feb 17
We expect C4XD to begin to deliver commercially in 2017, following the shift in strategy away from fee for service in 2016. Over the next 12 months we expect C4XD to sign its first pre-clinical out-licensing deal, develop at least one more product line and sign at least one more strategic alliance. We believe this demonstration of the model will translate to a step up in value and we initiate coverage with a BUY recommendation and 129p price target.
AIPAC Phase IIb starts randomised component
15 Feb 17
Prima BioMed maintains its leadership in LAG-3 immunotherapies with the initiation of the randomised Phase IIb component of the AIPAC trial of IMP321 in breast cancer. In addition, the TACTI-Mel study of IMP321 combined with Keytruda in melanoma is expected to complete recruitment and report safety data in mid-2017, while the pipeline now includes a first-in-class Lag-3 agonist antibody. Initial efficacy data on the first 15 patients in AIPAC is also expected mid-year. We have revised development timelines for in-house and partnered LAG-3 programmes, which sees our valuation decrease to A$252m or A$0.12/share (vs A$282m or A$0.14/share).