Medi-Stim ASA

Medistim is engaged in the developing, producing, service, leasing and distribution of medical devices. Co. develops, manufactures and brings to market the quality assessment systems VeriQ™ and VeriQ C™ for cardiac, vascular and transplant surgery. In addition, Co. is a distributor of other medical devices through its subsidiaries: Medistim Norge AS, Medistim Danmark Aps and Medistim Deutschland GmbH. The products distributed are mainly medical devices within all types of surgery.Minus income tax paidInbound VAT receivable
  • TickerMEDI
  • ISINNO0010159684
  • ExchangeOslo Bors
  • SectorHealth Care Equipment & Services
  • CountryNorway

Analysts

Ole-Andreas Krohn

Medistim (Hold, TP: NOK161.00) - Extended horizons

Despite sales below expectations, strong margins lifted the Q2 results above our estimates. While valuation remains stretched on 2019–2021e we see an attractive mix with US traction confirmed and untapped potential in Europe supporting valuation. We expect investor sentiment to remain strong on the long-term outlook and have raised our target price to NOK161 (143). We reiterate our HOLD recommendation.

Alexander Aukner ...
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mats Bye
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Ole-Andreas Krohn

Medistim (Hold, TP: NOK143.00) - Steady growth, untapped potential

With continued growth in the US, FX tailwinds and inventory restocking by distributors in other regions, we expect Medistim to report Q2 revenues and EBITDA just below Q4 2018’s record levels. Sector valuations have come up and while we reiterate our HOLD we have raised our target price to NOK143 (128). The Q2 results are due at 08:00 on 20 August.

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Ole-Andreas Krohn

Medistim (Hold, TP: NOK161.00) - Extended horizons

Despite sales below expectations, strong margins lifted the Q2 results above our estimates. While valuation remains stretched on 2019–2021e we see an attractive mix with US traction confirmed and untapped potential in Europe supporting valuation. We expect investor sentiment to remain strong on the long-term outlook and have raised our target price to NOK161 (143). We reiterate our HOLD recommendation.

Ole-Andreas Krohn

Medistim (Hold, TP: NOK143.00) - Steady growth, untapped potential

With continued growth in the US, FX tailwinds and inventory restocking by distributors in other regions, we expect Medistim to report Q2 revenues and EBITDA just below Q4 2018’s record levels. Sector valuations have come up and while we reiterate our HOLD we have raised our target price to NOK143 (128). The Q2 results are due at 08:00 on 20 August.

Ole-Andreas Krohn

Medistim (Hold, TP: NOK128.00) - In line, but with better mix

Q1 results were in line with our estimates, but with a more attractive mix than expected. US sales were above our forecasts, implying a solid basis for future growth, while lower sales in Europe and Asia in our view reflect inventory adjustments after a strong Q4. We see valuation stretched on 2019e but fair on 2020–2021e and have raised our target price to NOK128 (112). We reiterate our HOLD recommendation.

Ole-Andreas Krohn

Medistim (Hold, TP: NOK112.00) - Waiting for clients to catch up

Following record-high revenues in Q4 2018, we see a risk of a sequential drop in Q1 sales as we expect clients and distributors were well supplied ahead of the quarter. The Q1 results are due before the market opens on 25 April. We reiterate our HOLD and have raised our target price to NOK112 (95).

Ole-Andreas Krohn

Medistim (Hold, TP: NOK95.00) - A strong run, and a breather next

Q4 results exceeded our estimates, driven by higher sales and an attractive product mix. We have increased our 2019–2020e EPS by c6–7% and have raised our target price to NOK95 (81). However, we have downgraded to HOLD (BUY). Medium term, we expect a growing base for procedures sales on more outplaced platforms in the US, the pending Japan approval process, and continued demand following the REQUEST-study to support valuation.

Alexander Aukner ...
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mats Bye
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Jesper Ingildsen ...
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Joachim Gunell ...
  • Niclas Gehin
  • Nicolas McBeath
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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