Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on EKF DIAGNOSTICS HOLDINGS PLC. We currently have 48 research reports from 4 professional analysts.
|07Nov16 07:00||RNS||Trading update|
|07Oct16 07:00||RNS||Trading update|
|19Sep16 07:00||RNS||Appointment of Joint Broker|
|13Sep16 09:09||RNS||Holding(s) in Company|
|12Sep16 10:24||RNS||Grant of Options|
|12Sep16 07:00||RNS||Half-year Report|
|16Aug16 07:00||RNS||Notice of Results|
Frequency of research reports
Research reports on
EKF DIAGNOSTICS HOLDINGS PLC
EKF DIAGNOSTICS HOLDINGS PLC
Panmure Morning Note 07-11-2016
07 Nov 16
Another strong month of trading has resulted in a rise in guidance and a further upgrade to our estimates. The outperformance is partly due to currency, but encouragingly EKF has also continued to see strong trading across BHB, Hemo Control and QuoTest. We upgrade our estimates slightly and reiterate our BUY recommendation and 19p target price.
N+1 Singer - Morning Song 07-11-2016
07 Nov 16
Redcentric has announced that an internal review by the company's audit committee, in relation to the interim results for the six months ended 30 September 2016, has discovered misstated accounting balances in the Group's balance sheet. It appears that the impact of correcting these misstatements will result in the need to reduce net assets by at least £10m. The board now believes that net debt at September ’16 was approximately £30m, c.£10-£15m higher than previously thought. There are limited details available at the current time, as such we are placing our forecasts and recommendation under review.
A Quarterly look at UK Healthcare
02 Nov 16
Today we publish PG:GP (Panmure Gordon: Growth Prospects), our first quarterly take on the healthcare sector. We see current macro volatility providing a strong backdrop for the more naturally defensive healthcare stocks which are underpinned by solid fundamental drivers. The run-up to the US Presidential election has repeatedly reminded us that pharmaceutical pricing is one of Hilary Clinton’s main targets, and whatever the result, we see a see greater emphasis on outcomes-based pricing and reimbursement as a major influence for the future. In the UK, concerns voiced by the pharma majors over use of new drugs in the UK post Brexit may encourage adoption of some of the recommendations published last week in the UK Government’s final report on the Accelerated Access Review.
Upgrade to forecasts and target price
17 Oct 16
We update our forecasts following the trading update and also introduce our FY 2018 estimates. The revenue upgrades come from improving performance across the business with BHB, Hemo Control and the Quo-products all performing particularly strongly. In addition to improving revenue, EBITDA margins are expected to be higher than previously forecast. Following the upgrade to our estimates we increase our price target to 19p (previously 17.5p).
Positive Q3 trading update
07 Oct 16
EKF has released an early and very positive Q3 trading update indicating that both sales and EBITDA are expected to be ‘materially above budget’ with the expectation that FY16 will ‘exceed the high end of forecasts’ for both revenue and EBITDA. Our current forecasts of £33m revenue and £3.9m EBITDA, are already at the high end of previous guidance (revenue of over £30m and EBITDA of £3.5 – 4m). We will update our forecasts shortly, maintaining our BUY recommendation and 17.5p price target (2.5x 2017 sales).
N+1 Singer - Morning Song 05-12-2016
05 Dec 16
RTHM is acquiring a profitable Canadian listed mobile specialist for equivalent of US$42.5m consideration in shares (88.235m). This helps adds to two growth vectors RTHM is targeting; (i) adds unique exclusive audience (10m unique) and (ii) Exclusive demand Yahoo and Facebook. The business has 15 premium and owned and operated apps which provide users with rewards for activity. The business is expected to deliver c$9m of EBITDA in FY18 including $2m of cost synergies. This equates to just 4.7x EV/EBITDA. This marks what we see the first step in RTHM activity to scale the business and deliver on margin potential (see our initiation notes). Our initial estimates for EPS revisions are very significant - for FY18 are 2.3 cents (currently 0.6) and for FY19 4.3 (currently 2.5). There is a call at 830 for investors and we will revise post this.
Panmure Morning Note 02-12-16
02 Dec 16
We expect CareTech to report FY results to September on 8th December. A positive trading update in October indicated that performance for the year was in line with market expectations therefore we are focusing on the outlook. We expect a confident statement since the end of 2016 showed positive trends across fee rates, expansion in places and occupancy. We believe CareTech is well positioned for further expansion, and remains at an attractive valuation. We retain our BUY and 380p price target.
N+1 Singer - Morning Song 06-12-2016
06 Dec 16
With FY16 volume and revenue already disclosed in the pre-close, the focus in today’s prelims is on PBT (£100.3m versus our £101m) and EPS (96.8p versus our 95.4p). No special dividend triggered this year (none forecast) and DPS is held at 46.8p (N1SE: 48.0p). On end markets, recent commentary is reiterated – the core business is growing, whilst consumer electronics will be subdued in the current year (competitive capacity from Solvay). On currency, there will be a material benefit in the current year (a little more than the £14m to £15m previously indicated), and a further tailwind next year if current rates are maintained (quantum TBC). There is also an investment of £10m today in a minority interest in Magma Global, Victrex’ oil and gas mega programme partner. Although the share price is now close to our TP of 1730p, we feel that there is enough in today’s announcement to retain a positive stance on medium term opportunities with strong cashflow and a special dividend potentially to look forward to in the current year.
Panmure Morning Note 05-12-16
05 Dec 16
This week will see Chi-Med present data on both fruquintinib and epitinib at the 17th World Conference on Lung Cancer, concerning two proof-of-concept trials in non-small cell lung cancer (NSCLC). This morning, the poster presentation ‘A Phase I Study of Epitinib To Evaluate Efficacy And Safety In EGFR Mutation Positive (EGFRm+) NSCLC Patients With Brain Metastasis’ is available for investors to view on Chi-Med’s website.
Panmure Morning Note 01-12-16
01 Dec 16
Last month we highlighted the ongoing trajectory of Tuzistra sales, noting the impact of significant investment in the modified marketing strategy for Tuzistra, supported by the step up in sales personnel and increased marketing expenditure. This morning’s AGM statement and trading update gives some further colour on progress.