Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CONSORT MEDICAL PLC. We currently have 35 research reports from 5 professional analysts.
|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|
|14Dec16 07:00||RNS||Directorate Change|
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.
Interim results – adhering to international growth strategy
23 Feb 17
Interim results showed a strong performance for Tristel, 6% ahead of its AGM statement on 12 December at which it indicated adjusted pre-tax profits to be no less than £1.6m. Revenues increased by 22% (16% at constant exchange rates – CER or 12% CER excluding the impact of the Australian acquisition) and adjusted pre-tax profits were up 15% to £1.71m. Despite the strong half, we leave our full-year forecasts unchanged, given FX uncertainty and a one-off stocking order in H1 from the NHS, although at current FX rates the risk to our forecasts is considered to be to the upside. However, we raise our target price by 10% to 165p to reflect the solid progress as well as rolling forward our multiples to calendar-adjusted 2017.
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
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
N+1 Singer - Morning Song 23-02-2017
23 Feb 17
Genus (GNS LN) Interim results: R&D step-up, disappointing ABS performance | Howden Joinery Group (HWDN LN) Prelims and net cash better than expected but conditions weaken | Oxford Pharmascience Group (OXP LN) Encouraging interim OXPzero™ Ibuprofen exploratory PK data | StatPro Group (SOG LN) Increased majority shareholding in Infovest Consulting | Wilmington Group (WIL LN) Interims slightly ahead, move to focus on 3 verticals
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.
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.