Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on UDG HEALTHCARE PLC. We currently have 20 research reports from 2 professional analysts.
|24Nov16 11:27||RNS||Dividend Correction|
|24Nov16 07:00||RNS||Final Results|
|23Nov16 01:28||RNS||Acquisition Update & Issue of Equity|
|18Nov16 04:34||RNS||Director Declaration|
|16Nov16 04:14||RNS||Holding(s) in Company|
|07Nov16 07:00||RNS||Notice of Preliminary Results|
|21Oct16 10:52||RNS||UDG Healthcare acquires STEM Marketing Limited|
Frequency of research reports
Research reports on
UDG HEALTHCARE PLC
UDG HEALTHCARE PLC
N+1 Singer - Morning Song 24-11-2016
24 Nov 16
FY16 Prelims look in line, after adjusting for a discontinued item (a minority stake in a chain of Irish pharmacies (0.9c EPS impact)). Revenues are slightly behind, but margins more than compensated, bringing EPS growth in at 8% underlying (9% CER), at the top end of the guided range. The outlook looks positive, with no change to the overall story. No new acquisitions to report yet (we upgraded by 3% net on the STEM deal in October, after FX headwinds and increased investment in the future fit programme). Further deals should be more accretive, and this is the crux of the investment case. We stay at Buy.
N+1 Singer - UDG Healthcare - First acquisition heralds start of an upgrade cycle
25 Oct 16
UDG’s first material acquisition since the disposal of the Supply Chain division in April gives some flavour of the direction ahead. It is paying just over 8x EBITDA for a fast growing and high margin business, which will bring a unique service offering into the Ashfield mix. Although FX and opex related to the Future Fit programme temper our EPS upgrades to 3%, we expect further accretive deals to follow. We increase our TP to 746p and reiterate our Buy recommendation.
Updating estimates on H116, FX moves
21 Jul 16
We are updating our forecasts for UDG on the back of solid H116 results, the completion of the sale of the drug distribution business and recent pronounced currency moves. While providing a sufficient cash cushion in the current volatile market conditions, the divestment will allow increased flexibility for the company to deliver on its already successful track record of acquisitions. We raise our DCF valuation from £5.21 to £6.45/share.
Growing share in a growth market
06 Jun 16
Recent trading has remained robust, with underlying double digit growth in both core divisions. In our opinion, UDG is extremely well placed to benefit from the structural growth that is underway in the Pharma Services market and to increase its market share through both organic and acquisition-led growth. We retain our Buy recommendation and nudge our SOTP/DCF derived TP to 635p (from 630p). This could be substantially north of 700p depending on the pace and shape of reinvestment.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
N+1 Singer - Morning Song 29-11-2016
29 Nov 16
Vp has reported another impressive set of interims, confirming strong growth in most markets and a positive outlook. Recent acquisitions are bedding in well and the full year outturn is set to exceed previous expectations (5%/6% EPS upgrades in FY17/FY18). The recent Capital Markets Day provided a reminder of Vp’s qualities (specialist focus, high returns, strong cash generation) and its growth potential, which in our view are not reflected in a modest <11x P/E rating. We firmly believe the shares are due a re-rating and see intrinsic value in excess of 800p.
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.
Food intolerance driving growth
29 Nov 16
Omega Diagnostics Group has an established core business providing high quality in vitro diagnostic tests within three core areas of competence – Food Intolerance, Allergy & Autoimmune, Infectious Disease – that are sold in over 100 countries. The group offers steady low single-digit growth which is profitable and cash generative. Investment in new products has seen the launch of a new panel of automated allergy tests and progress on Visitect CD4 for monitoring of HIV positive patients. Interim results highlighted the opportunities to accelerate growth of the business, particularly Allersys, which has drawn attention from its partner.
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.