Virbac S.A.

Virbac is an independent veterinary pharmaceutical laboratory. Co. develops and provides veterinarians and farmers with medicines and vaccines that improve the health of food producing animals. Co. markets a range of products designed for pets and livestock. It offers seven types of products for companion animals (Parasiticides, Immunology, Antibiotics/dermatology, Specialties, Equine, Specialized pet food and Other products), and four types of products for food producing animals (Bovine parasiticides, Bovine products (excluding parasiticides), Pig/poultry antibiotics and Other products). Co. markets its products in the ethical (veterinarian) and OTC markets.
  • TickerVIRP
  • ISINFR0000031577
  • ExchangeEuronext Paris
  • SectorPharmaceuticals & Biotechnology
  • CountryFrance

Analysts

1 director sold

A director at Virbac sold 2,287 shares at 180.166EUR and the significance rating of the trade was 82/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members...

Christophe-Raphaël Ganet

Virbac : L’inflexion attendue a en partie été jouée, le potentiel s’est contracté – Neutre vs Achat

Sur la base des derniers chiffres publiés, il apparaît que l’amélioration de la situation aux USA et les nombreuses initiatives du nouveau CEO ont engagé Virbac dans une trajectoire convergeant vers une MOP de 14.5%e à horizon 2023. Notre objectif de cours de 185 € suggère un potentiel plus limité à court terme (7%) : Neutre vs Achat. - >Une traversée du désert entamée en 2015 - Depuis début 2015, le marché cristallisait sur : i/ les activités USA, qui ont subi entre 2...

Christophe-Raphaël Ganet

Virbac : Expected improvement partly priced in and upside reduced – Neutral vs Buy

Based on the last sets of results and quarterly sales, it seems that the improvement in the US and the many initiatives taken by the new CEO have placed Virbac on the path to an estimated operating margin of 14.5% in 2023. Our target price of € 185 suggests more limited upside in the short term (7%): Neutral vs Buy. - >A barren period starting in 2015 - Since early 2015, the market's focus has been on: i/ the US which between 2015-2017 had to contend with the St Louis ...

Christophe-Raphaël Ganet

Virbac : L’inflexion attendue a en partie été jouée, le potentiel s’est contracté – Neutre vs Achat

Sur la base des derniers chiffres publiés, il apparaît que l’amélioration de la situation aux USA et les nombreuses initiatives du nouveau CEO ont engagé Virbac dans une trajectoire convergeant vers une MOP de 14.5%e à horizon 2023. Notre objectif de cours de 185 € suggère un potentiel plus limité à court terme (7%) : Neutre vs Achat. - >Une traversée du désert entamée en 2015 - Depuis début 2015, le marché cristallisait sur : i/ les activités USA, qui ont subi entre 2...

Christophe-Raphaël Ganet

Virbac : Expected improvement partly priced in and upside reduced – Neutral vs Buy

Based on the last sets of results and quarterly sales, it seems that the improvement in the US and the many initiatives taken by the new CEO have placed Virbac on the path to an estimated operating margin of 14.5% in 2023. Our target price of € 185 suggests more limited upside in the short term (7%): Neutral vs Buy. - >A barren period starting in 2015 - Since early 2015, the market's focus has been on: i/ the US which between 2015-2017 had to contend with the St Louis ...

Christophe-Raphaël Ganet

Virbac : Q1 2019: ahead of our estimates, even excl. forex

>High organic growth: +10.9% - Positive forex - Q1 2019 sales came in at € 217.5m (+12.4% and +10.9% at constant currency.).All regions were up relative to the same period last year.In the US, business rose very sharply in Q1 by +81.5% (+67.2% at constant currency). Excl. the US, the group posted growth of +6.6% at actual rates, i.e. +6.2% at constant currency. Even Chile posted growth of 12.7% at constant currency. The press release reiterated the guid...

Christophe-Raphaël Ganet

Virbac : CA T1 2019 : au-dessus de nos attentes, même hors effet FX

>Croissance organique élevée : +10,9% - FX positif - Le CA T1 2019 ressort à 217,5 M€ (+12.4% et +10.9% à tcc.).Toutes les zones sont en croissance par rapport à la même période de l’année dernière.Aux États-Unis, l’activité est en très nette progression au premier trimestre à +81,5% (+67,2% à tcc.). En dehors des États-Unis, la croissance ressort à +6,6% à taux réels, soit +6,2% à tcc. Même le Chili a progressé de 12,7% à tcc. Le communiqué réitère les...

Christophe-Raphaël Ganet

Virbac : Anticipated inflection now perceived as durably under way

>Self-helped recovery - We organised a road show in London on the basis of earnings reflecting a € 34m decline in net debt and an increase in the operating margin of around 80bp to approximately 10% of sales. It transpires that:The situation in the US is stabilising (weaker destocking effect) for the anti-parasitic treatments Iverheart® and Sentinel®, but the rest of the ranges (50% of local sales) are up by around 20% (regained market share). The contributive ma...

1 director sold

A director at Virbac sold 2,287 shares at 180.166EUR and the significance rating of the trade was 82/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members...

Ahmed Ben Salem ...
  • Cecile De Coincy
  • Christophe-Raphaël Ganet
  • Florent Laroche-Joubert
  • Hana Maalej
  • Jeremy Garnier
  • Jerôme Bodin
  • Yassine Batini

ODDO BHF Small & MIDCAP MORNING NEWS - 04/12/2019

US Congress is currently discussing how best to continue securing, or even raising, funding for the country's infrastructure. Increasing the federal tax on fuel is one of the few options to receive cross-party support. This tax has not been hiked since 1993, but mindsets are changing with 39 states having already ramped up the local component of this levy in recent years. CRH and HeidelbergCement would be the main beneficiaries. - - ...

Ahmed Ben Salem ...
  • Christophe-Raphaël Ganet
  • Florent Laroche-Joubert
  • Hana Maalej
  • Jeremy Garnier
  • Jerôme Bodin
  • Yassine Batini

ODDO BHF Small & MIDCAP MORNING NEWS - 12/04/2019

Des discussions au Congrès américain sont actuellement en cours en vue de boucler, voire même d’augmenter, le financement des infrastructures. L’idée d’une hausse de la taxe fédérale sur les carburants reste l’un des rares projets avec un soutien bipartisan. Cette taxe n’a pas été augmentée depuis 1993 mais les mentalités américaines évoluent : 39 Etats ont déjà augmenté la composante locale de cette taxe ces dernières années. CRH et HeidelbergCement seraient les grands gagnants. - - ...

Amine Daly ...
  • Christophe-Raphaël Ganet
  • Laurence Hofmann
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 04/11/2019

GTT has an atypical profile with an asset-light model offering visibility, flexibility and security. In a structurally buoyant LNG market, the group holds a strong dominant position. The outlook remains attractive thanks to major growth drivers, such as LNG and fuel. Based on a steady growth profile out to 2020 (2018-2020 CAGR +26% for EBITDA), we are raising our target price to € 102 from € 90 without factoring in the potential offered by LNG fuel. Buy recommendation confirmed. - - ...

Amine Daly ...
  • Christophe-Raphaël Ganet
  • Laurence Hofmann
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 11/04/2019

GTT présente un profil atypique avec un modèle asset light qui offre Visibilité, Flexibilité et Sécurité. Sur un marché du GNL structurellement porteur, le groupe occupe une large position dominante. Avec d’importants relais de croissance (GNL carburant…), les perspectives demeurent attractives. Sur la base d’un profil de croissance soutenue d’ici à 2020 (TMVA 2018/2020e +26% pour l’EBITDA), nous relevons notre OC à 102 € (vs 90 €) sans intégrer le potentiel lié au GNL carburant. Acha...

Aurelien Sivignon ...
  • Christophe-Raphaël Ganet
  • Jean-François Granjon
  • Jeremy Garnier
  • Johanna Jourdain
  • Laurence Hofmann
  • Nicolas Thorez
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 01/18/2019

...

With a more favourable environment, VIRBAC improves to Slightly Positive

VIRBAC (FR), a company active in the Pharmaceuticals industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date March 26, 2019, the closing price was EUR 134.20 and its potential was estimated at EUR 140.91.

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...

MarketLine Department

Zoetis Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Zoetis Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Zoetis Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights ...

Pauline Delecourt

Virbac 18 juin 2019

Tout d’abord, Proxinvest regrette que les rémunérations de chacun des membres du Directoire soient regroupées au sein d’une même résolution (résolution 13). En raison du regroupement des rémunérations au sein d’une même résolution, de l’absence de communication des taux de réalisation et des objectifs à atteindre et une hausse significative des bonus nous ne soutiendrons pas la résolution 13. De même, en raison de ce manque de transparence Proxinvest recommande de s'opposer aux résolutions 14 et 15, relatives aux rémunérations des dirigeants pour le nouvel exercice. En raison d’un faible tau...

Jehanne Leroy

Etude de l'AG du 23/06/2017

Proxinvest regrette principalement le manque de transparence de la communication de la société concernant les rémunérations des dirigeants mandataires sociaux. C'est, en effet, en raison de ce manque de transparence que Proxinvest recommande de s'opposer aux résolutions 8 à 12, relatives aux rémunérations des dirigeants. Proxinvest regrette par ailleurs que la société maintienne la possibilité de l'usage de ces autorisations financières en période d'offre publique, en raison de leur possible utilisation comme arme anti-OPA. Proxinvest considère en effet que les OPA sont des opportunités d'enr...

SRI Quantitative KPIs

Les analyses Gaïa sont des analyses ESG (Environnement, Social, Gouvernance) dediees aux entreprises de tailles intermediaires (PME, ETI) françaises. Elles presentent 120 indicateurs quantitatifs sur les trois derniers exercices.

SRI Company Analysis

Geol analyses are ESG (Environment, Social, Governance) analyses covering European large caps and small and mid caps, listed or non-listed. Those analyses, based on the ESG risks identified, show the qualitative and quantitative performance of issuers, in a ten-page synthesis.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Defensive posture warranted Our outlook for global equity markets remains cautious and we expect additional weakness and consolidation, notwithstanding shorter-term countertrend rallies. Indexes throughout Europe and Asia continue their struggle to gain a firm footing, and, unsurprisingly, the same can be said of broad developed and emerging market indexes (i.e., MSCI EAFE, EM, ACWI, ACWI ex-U.S.) which are all in downtrends or have recently broken down. In light of continued global market weakness, we believe a defensive posture is warranted. In today's report we highlight various ways to ac...

Valérie GASTALDY

Short term view - VIRBAC SA : The movement can go on.

The background trend is clearly bullish. The MACD is positive, it confirms that trend. The movement can go on. The following targets are at €152.70 and €157.00. The trend would be invalidated below the support at €138.60.

Valérie GASTALDY

Analyse court terme - VIRBAC SA : Le mouvement peut se poursuivre.

La tendance de fond est clairement orientée à la hausse. Le MACD est positif, il confirme cette tendance. Le mouvement peut se poursuivre. Les objectifs suivants sont à 152,70 € et 157,00 €. La tendance serait invalidée sous le support à 138,60 €.

Valérie GASTALDY

Short term view - VIRBAC SA : The background trend is clearly bullish.

The background trend is clearly bullish. The MACD is positive, it confirms that trend. The movement can go on. The following targets are at €152.70 and €157.00. The trend would be invalidated below the support at €138.60.

Valérie GASTALDY

Analyse court terme - VIRBAC SA : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Le MACD est positif, il confirme cette tendance. Le mouvement peut se poursuivre. Les objectifs suivants sont à 152,70 € et 157,00 €. La tendance serait invalidée sous le support à 138,60 €.

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