Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CONSORT MEDICAL PLC. We currently have 33 research reports from 5 professional analysts.
|01Mar17 09:22||RNS||Total Voting Rights|
|30Jan17 12:44||RNS||Holding(s) in Company|
|26Jan17 14:59||RNS||Holding(s) in Company|
|23Jan17 07:00||RNS||Participation in equity raise for Atlas Genetics|
|03Jan17 07:00||RNS||Voke® (DEV200) update|
|15Dec16 09:45||RNS||Holding(s) in Company|
|14Dec16 10:35||RNS||Holding(s) in Company|
Frequency of research reports
Research reports on
CONSORT MEDICAL PLC
CONSORT MEDICAL PLC
PG: Growth Prospects in Healthcare
26 Jan 17
We expect the volatility of the last 3 months to continue, with macro events, particularly the uncertainty brought by President Trump and his focus on pharma pricing and dismantling the Affordable Care Act, likely to keep healthcare in the headlines for the wrong reasons. We believe the more highly valued larger stocks are likely to struggle to break out to new trading levels, but note there remains good value within the smaller end of the sector for stockpickers, with company specific events likely to drive some stocks well ahead of the crowd.
Nicovations reVokes Bespak supply agreement
04 Jan 17
Consort Medical has announced that all supply agreements for Voke, an MHRA approved nicotine inhaler, have been terminated with immediate effect by Bespak’s partner, Nicovations. Termination was a contractual right in the event that Voke was not commercially launched before end-2016. Nevertheless, ‘constructive’ talks about Voke’s future continue between Nicovations (holder of distribution rights), Kind Consumer (developer of the product and underlying technology) and Bespak (formerly responsible for build, manufacturing and supply of filled devices and valve technology). Given cessation of the supply contract and uncertainty over Voke’s path to market, we remove it from our pipeline rNPV; this lowers our valuation range for Consort to 1,238-1,300p/share.
Panmure Morning Note 03-01-2017
03 Jan 17
Consort has announced this morning that Nicovations, a subsidiary of BAT, has terminated its supply agreements for Voke (DEV200) effective immediately. We make no changes to estimates as the product had previously been removed from forecasts. We do not expect the company to lose financially from the termination of the contract. Although the loss of the DEV200 contract is disappointing, Consort has a substantial pipeline in addition to solid growth from its existing product lines, and over the next 12 months there are a number of product launches expected which could accelerate growth above our expectations. We expect the shares to be weak on today’s news, however, would see this as a buying opportunity as the underlying business remains strong.
N+1 Singer - Consort Medical - Burgeoning pipeline prompts more positive stance
19 Dec 16
Recent share price weakness presents a buying opportunity ahead of both a potential near term catalyst and an improving medium-long term outlook for the business. We update our forecasts following the strong set of interims (EPS+2-3%) and see further short and medium term upgrade opportunities from recent contract wins. Rolling forward our valuation methodology results in a new TP of 1125p (from 1067p) and we upgrade to Buy (from Hold) as a result.
Pipeline and margin momentum
19 Dec 16
Consort Medical’s H117 interims evidenced underlying earnings growth, ongoing margin expansion and increased diversity in the business and customer base. At Bespak significant contract wins and recent and potential near-term launches support longer-term growth. Increased capacity utilisation and the serialisation opportunity could drive Aesica operating margin towards the double-digit target. M&A could supplement Consort’s existing product, competency or geographic capabilities. Nevertheless, organic growth is supported by a growing pipeline, with 16 disclosed Bespak projects and an ‘Innovation funnel’ of 11 early-stage development/feasibility projects.
Solid H1 and encouraging outlook; minor changes to estimates
13 Dec 16
We make minor changes to our estimates following interim results last week and reiterate our BUY recommendation. The pull back in the shares offers a buying opportunity for a stock we see as a core holding in the UK healthcare sector. The long term contracts with global pharma underpin performance and new product launches are expected to accelerate growth. Longer term we expect both the VapourSoft technology and combined device/drug contracts to result in upside. We retain our 1145p price target.
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
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.
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.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
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.