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.
|16Jan17 07:00||RNS||Notice of Q1 2017 Trading Update|
|16Jan17 12:41||RNS||Holding(s) in Company|
|12Jan17 04:01||RNS||Holding(s) in Company|
|06Jan17 03:29||RNS||Director/PDMR Shareholding|
|04Jan17 04:28||RNS||Holding(s) in Company|
|03Jan17 07:30||RNS||Block listing Interim Review|
|03Jan17 07:00||RNS||Total Voting Rights|
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.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
N+1 Singer - Morning Song 19-01-2017
19 Jan 17
Actual Experience (ACT LN) 2017 – a milestone year for revenue | Bagir Group (BAGR LN) Independent NED appointment to strengthen Board composition | Bioquell (BQE LN) Reassuring pre-close statement | Carador Income Fund (CIFU LN) Q4 dividend increased to 2.75c, 0.5c higher than forecast | FreeAgent (FREE LN) Contract with Royal Bank of Scotland | Halfords Group (HFD LN) Excellent Q3 update, special divi and confidence in FX mitigations | N Brown Group (BWNG LN) Robust peak trading with reversal of drag from older titles | NCC Group (NCC LN) Interims confirm underlying business sound | St Ives (SIV LN) Downgrade | Summit Therapeutics (SUMM LN) Dr David Roblin appointed Chief Operating Officer and R&D President | Wilmington Group (WIL LN) Acquisition – Further scaling of Healthcare
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Morning Song 16-01-2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.
Panmure Morning Note 17-01-2017
17 Jan 17
Dechra has announced a trading update for the half year to 31 December 2016 and, given the tone and confidence of the company’s prelims statement and presentation in September, investors are unlikely to be surprised that the underlying business and acquisitions continue to ‘perform well’. Ahead of a full update of our investment thesis we place our recommendation and forecasts under review, but note that the core business continues to progress well in spite of the obvious distraction of the recent M&A programme. We look towards interims on 27 February 2017.