Research, Charts & Company Announcements
Research Tree offers AVINGER INC research coverage from 0 professional analysts, and we have 0 reports on our platform.
Our simple but effective charting function allows for a quick scan of AVINGER INC's performance over multiple time horizons.
Frequency of research reports
Research reports on AVINGER INC
Providers covering AVINGER INC
Research on related companies
View the latest research on other companies in the sector, published by expert analysts across the city, at some of the best quality Banks, Brokers, and Independent Providers in the market.
A strong FY 2016
17 Oct 16
Full-year results were ahead of July’s trading update, boosted by a year-end Fx benefit and stronger than expected gross margins. Revenue growth of 12% was driven by overseas markets (+22%) and assisted by a stronger UK performance in the second half. A broader and deeper strategy for the US market, including the registration of surface and water disinfectants with the EPA, is now being pursued, with expected launches in FY 2019. We have increased our target price to 150p to reflect a 6% EPS upgrade to 2017 earnings and introduced a 2018 forecast, calling for EPS of 7.0p.
17 Oct 16
Avacta* (AVCT): Act now (CORP) | Tristel* (TSTL): A strong FY 2016 (CORP) | Bioventix* (BVXP): FY 2016 results (CORP) | Elecosoft* (ELCO): SaaS model strengthened through acquisition (CORP) | Lok’nStore* (LOK): NAV up 28% (CORP) | Omega Diagnostics* (ODX): Mid year trading update (CORP) | Mortice* (MORT): Positive trading update (CORP)
FY 2016 results
17 Oct 16
Full-year results were 7% ahead of the August trading update. Revenue growth of 27% was driven by Vitamin D, up c55%, and sterling's depreciation, which contributed c11% to growth. A higher final dividend together with a 20p special dividend implies a combined yield of 2.9%. Management is confident that Siemens will launch its troponin-based assay contributing to and largely replacing lost NT proBNP royalties in FY 2018. We have increased our target price to 1450p to reflect a 5% EPS upgrade to 2017 earnings and introduced a 2018 forecast, calling for EPS of 72.7p.
Walking the talk
17 Oct 16
Two traits that investors love about a company are predictability and execution. The former underpins confidence and lowers the risk premium, while the latter drives valuation. On both counts, we think Tristel scores favourably, with the stock rallying from 20p in April 2013 to 160p today – equivalent to a 700% capital gain, supplemented by 14p of dividend income.
Consensus eps falling…falling…falling…rising 2.0
29 Apr 16
In January we screened for companies with estimates that had been declining consistently since a year previously, but which had risen in the immediately preceding three months (see our note dated 22 January 2016). We have reviewed the performance of those companies and, given the overall strength of this selection, we have re-run the screen. In the c.3 months since selection, the unweighted average rise was c.34% against a c.11% rise in the main All-Share index. From the same universe as before (some 900 companies) we find 38 companies selected by the screen. We note a number of stocks in the list where we have a supportive stance including: Devro (DVO LN, Buy), James Fisher (FSJ LN, Corporate), Mattioli Woods (MTW LN, Buy) and Spirent Communications (SPT LN, Buy).
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).