William Demant Holding is a holding company. Through its subsidiaries, Co develops, manufactures and sells products and equipment designed to aid the hearing and communication of individuals. Co. focuses on four areas: Hearing Devices, Diagnostic Instruments, Hearing Implants and Personal Communication. Co.'s hearing devices include Oticon, Bernafon, Sonic, Phonic Ear, and FrontRow. Co.'s Hearing implant consist of Oticon Medical. Co.'s diagnostic instruments include Maico, Interacoustics, Amplivox, Grason-Stadler, MedRx, and Micromedical. Co.'s personal communication consists of Sennheiser Communications.
  • TickerWDH
  • ISINDK0060738599
  • ExchangeNasdaq Nordic Copenhagen
  • SectorHealth Care Equipment & Services
  • CountryDenmark

Analysts

Frank Maaø ...
  • Håkon Astrup
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Mats Bye
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Rune Majlund Dahl

Demant (Hold, TP: DKK220.00) - Very back-end loaded 2019e

The Q1 trading update showed the expected slowdown in both wholesale and retail as highlighted in our preview. Market unit sales growth in Q1 was at the low end of the 4–6% guided for 2019 (2–4% in value terms) with ASPs down due to channel mix with high NHS volumes. Comments on retail were negative related to France. Full-year guidance was maintained indicating a very back-end loaded 2019e. We reiterate our HOLD but have raised our target price to DKK220 (210).

Alex Morozov

Morningstar | Demant's Opn Family Portfolio Should Result in Solid Performance in 2019

Demant benefits from favourable trends, including an ageing population, increasing noise pollution, fairly low penetration rates in the developed world, and virtually untapped patient populations in emerging markets. Its broad product offerings should allow the company to capitalise on these trends, while its strong brand and superior technological know-how should yield market share gains. Demant controls more than one fifth of the world's hearing aid market by value, possessing roughly the same share as key competitor Sonova. The two rivals are very similar in their approach to the market. Bo...

Alex Morozov

Demant's Opn Family Portfolio Should Result in Solid Performance in 2019

Narrow-moat William Demant announced Feb. 19 its full-year 2018 results and the group name re-brand from William Demant Holding to Demant. Full-year results came mainly in line with our forecast but operating income was below consensus. The share price was down 9% after the results announcement. We believe the share price reaction reflects the market disappointment with the full-year operating income at DKK 2.65 billion; which came in the lower end of the management guidance. We are maintaining ...

Rune Majlund Dahl

Demant (Hold, TP: DKK220.00) - Very back-end loaded 2019e

The Q1 trading update showed the expected slowdown in both wholesale and retail as highlighted in our preview. Market unit sales growth in Q1 was at the low end of the 4–6% guided for 2019 (2–4% in value terms) with ASPs down due to channel mix with high NHS volumes. Comments on retail were negative related to France. Full-year guidance was maintained indicating a very back-end loaded 2019e. We reiterate our HOLD but have raised our target price to DKK220 (210).

Alex Morozov

Morningstar | Demant's Opn Family Portfolio Should Result in Solid Performance in 2019

Demant benefits from favourable trends, including an ageing population, increasing noise pollution, fairly low penetration rates in the developed world, and virtually untapped patient populations in emerging markets. Its broad product offerings should allow the company to capitalise on these trends, while its strong brand and superior technological know-how should yield market share gains. Demant controls more than one fifth of the world's hearing aid market by value, possessing roughly the same share as key competitor Sonova. The two rivals are very similar in their approach to the market. Bo...

Alex Morozov

Demant's Opn Family Portfolio Should Result in Solid Performance in 2019

Narrow-moat William Demant announced Feb. 19 its full-year 2018 results and the group name re-brand from William Demant Holding to Demant. Full-year results came mainly in line with our forecast but operating income was below consensus. The share price was down 9% after the results announcement. We believe the share price reaction reflects the market disappointment with the full-year operating income at DKK 2.65 billion; which came in the lower end of the management guidance. We are maintaining ...

Rune Majlund Dahl

Focus on Demant and Bose

As we expected, the only news in terms of product at this year’s AudiologyNow! (AAA) conference in Columbus was Demant showcasing and updating on the launch of Opn S, highlighting strong initial feedback from users and significant audiology improvement. While Bose had a stand in the exhibition hall, the focus was on the Hearphones and not the De Novo hearing aid that received FDA approval. In fact, we do not think Bose is planning to launch before the FDA has established the OTC category, likely in early 2020.

Alex Morozov

Morningstar | Full-Year William Demant Results in Line With Our Expectations; Fair Value Estimate Maintained

Narrow-moat William Demant announced Feb. 19 its full-year 2018 results and the group name re-brand from William Demant Holding to Demant. Full-year results came mainly in line with our forecast but operating income was below consensus. The share price was down 9% after the results announcement. We believe the share price reaction reflects the market disappointment with the full-year operating income at DKK 2.65 billion; which came in the lower end of the management guidance. We are maintaining our fair value estimate at DKK 209 and our narrow moat rating. Top-line growth was strong at 7% org...

Frank Maaø ...
  • Håkon Astrup
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Mats Bye
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Antti Kansanen ...
  • Eivind Sars Veddeng
  • Helge André Martinsen
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Jon Masdal ...
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Alexander Aukner ...
  • Håkon Astrup
  • Helge André Martinsen
  • Jon Masdal
  • Marius Knudssøn
  • Martin Arnell
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

WILLIAM DEMANT HLDG.A/S sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of WILLIAM DEMANT HLDG.A/S (DK), active in the Medical Equipment industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date September 28, 2018, the closing price was DKK 241.40 and its target price was estimated at DKK 224.82.

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...

Expert Corporate Governance Service (ECGS)

William Demant Holding, March 19 2019

In general, William Demant Holding ("Demant") is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 5a, it is proposed to re-appoint Mr. Niels B. Christiansen as Chairman of the board of directors. Although Mr. Christiansen is considered independent, ECGS has concerns over his aggregate time commitments. Mr. Christiansen is serving as CEO of Lego A/S (substantial non-listed company), Chairman of the board of directors of William Demant Holding A/S (listed) and non-executive director of AP Moller Maersk A/S (listed), ...

William Demant – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

William Dermant Holding - March, 19 2019

In general, William Demant Holding ("Demant") is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 5a, it is proposed to re-appoint Mr. Niels B. Christiansen as Chairman of the board of directors. Although Mr. Christiansen is considered independent, ECGS has concerns over his aggregate time commitments. Mr. Christiansen is serving as CEO of Lego A/S (substantial non-listed company), Chairman of the board of directors of William Demant Holding A/S (listed) and non-executive director of AP Moller Maersk A/S (listed), ...

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