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 55 research reports from 4 professional analysts.
|21Mar17 13:47||RNS||Director/PDMR Shareholding|
|21Mar17 12:04||RNS||Holding(s) in Company|
|20Mar17 07:00||RNS||Final Results|
|02Mar17 07:00||RNS||Notice of Results|
|22Feb17 07:00||RNS||Change of Nominated Adviser and Broker|
|09Jan17 07:00||RNS||Trading update|
Frequency of research reports
Research reports on
EKF DIAGNOSTICS HOLDINGS PLC
EKF DIAGNOSTICS HOLDINGS PLC
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.
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.
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.
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 - 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.
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
Newsflow on pipeline and biosimilar development to be more meaningful this year
20 Mar 17
Roche’s Q4 sales grew by 3% at CER (all sales numbers at CER unless specified) to CHF13.1bn. The deviation from our forecasts segment-wise were balanced at the net level – the better performance by the pharma business (+3% vs 2% in Q3) ironed out marginal underperformance in the diagnostics business (+5% vs 8% in Q3). For the full year, Pharma grew by 3% and Diagnostics by 7%, stepping up to group sales growth of 4% to CHF50.6bn. By therapeutic area for the year, oncology (64% of pharma sales) grew by 4%, immunology (18% of pharma sales) by 10%, neuroscience by 2%, while infectious diseases and ophthalmology (which only has Lucentis) declined by 14% and 10%, respectively. Adjusted operating profit of CHF16.4bn for the year was in line with our expectations, benefiting from better control on general and administrative expenses. On the other hand, we do not expect much respite on the R&D front as the company invests heavily in the line-up of drugs in the pipeline. The core EPS (CER) growth at 5% to CHF14.53 met management’s guidance of higher-than-revenue-growth guidance of low to mid single-digit. However, if we exclude the one-time gain of CHF426m, pertaining to changes to the pension plan in Switzerland, growth came in at 2%, slightly behind guidance. Geographically, the US pharma reported a better performance during the quarter (+3% vs +1% in Q3) as did Japan (+3% vs -3% in Q3 which coincided with the bi-annual price cuts) and International market (+3% vs +2% in Q3), although Europe was slower (+2% vs +5% in Q3). The US was driven by MabThera/Rituxan (+3%), Activase (+46%) and Xolair (+8%), offset to some extent by Avastin (-10%), Lucentis (-14%), Tarceva (-8%) and Cellcept (-31%). Europe, on the other hand, had most of the mature drugs in the red but was driven by Perjeta (+22%) and Actemra/RoActemra (+14%). The diagnostics business was driven by centralised and point of care Solutions (58% of diagnostics sales; grew by 9% for the year, primarily on the back of immunodiagnostics business), but offset to some extent by pricing pressure in the diabetes care business (18% of diagnostics sales; declined by 4% for the year). Molecular diagnostics and tissue diagnostics remained steady (7% and 14% at CER, respectively, for the year). Geographically, Asia Pacific reported the highest growth at 16%, driven primarily by China. In 2017, Roche expects sales to grow low to mid single-digit, at constant exchange rates. This, according to management, factors in the scenarios on potential catalysts during the year, including biosimilars and the APHINITY trial (which recently moved in the favour of the company). Core earnings per share are guided to be in line with sales growth.