In today’s briefing:
- Sigma Healthcare (SIG AU): ASX200 Inclusion Now, MUCH More Squeezy Fun Later. Maybe…
- Quiddity Leaderboard ChiNext & ChiNext 50 Jun 24: Bull-Bear Hot Streak Continues; Some Surprises
- Ajanta Pharma (AJP IN): Stellar Q4 Performance; INR3B Buyback Plan Announced
- Laboratory Corporation of America (LabCorp): Will The Acquisition of Invitae Be A Game Changer? – Major Drivers
- ResMed Inc.: What Are Their Latest Products & Their Expected Revenue Impact? – Major Drivers
- West Pharmaceutical Services: Contract Manufacturing Expansion & Other Major Drivers
Sigma Healthcare (SIG AU): ASX200 Inclusion Now, MUCH More Squeezy Fun Later. Maybe…
- In early December, pharmacy distributor Sigma Healthcare (SIG AU) arranged a “transformational merger” with mega chain Chemist Warehouse (CWG). Effectively a reverse takeover designed to get CWG listed.
- SIG issued shares, raising cash, enabling it so NEWCO had high enough minimum float upon merging. Financial engineering for the win. SIG popped – a kind of IPO premium trade.
- But plenty of people are against the deal, and ACCC hasn’t yet opined (13 June is the provisional date), but on Thursday, S&P announced SIG would join ASX200 despite risks.
Quiddity Leaderboard ChiNext & ChiNext 50 Jun 24: Bull-Bear Hot Streak Continues; Some Surprises
- The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
- The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
- The 6-month reference period for the June 2024 index rebal event just ended. In this insight, we take a look at our final expectations for ADDs and DELs.
Ajanta Pharma (AJP IN): Stellar Q4 Performance; INR3B Buyback Plan Announced
- Ajanta Pharma (AJP IN) reported strong Q4FY24 results, with double-digit revenue and PAT growth, and improving margins, driven by growth across all the business segments.
- The company has announced INR3.5B buyback plan, involving purchase of 10,28,881 equity shares (0.82% of the total paid-up equity share capital) at a price of INR2,770 per equity share.
- Ajanta Pharma is confident of maintaining double-digit growth going ahead with the existing products gaining market share, new launches, and expansion of field force.
Laboratory Corporation of America (LabCorp): Will The Acquisition of Invitae Be A Game Changer? – Major Drivers
- Laboratory Corporation of America Holdings (LabCorp) has seen significant growth in its first quarter of 2024 and continues to show promise for the rest of the year.
- The total revenue for the quarter was $3.2 billion with adjusted earnings per share at $3.68, which represents a 5% increase in enterprise revenue from the first quarter of 2023.
- Within the revenue growth, the Diagnostic Laboratories business accounted for a 4% increase, while Biopharma revenue rose 8%.
ResMed Inc.: What Are Their Latest Products & Their Expected Revenue Impact? – Major Drivers
- ResMed has had a strong third financial quarter for 2024, demonstrating strong top-line growth and double-digit bottom-line growth.
- This growth is driven by the ongoing demand for their devices across global markets, high single-digit growth in their Software as a Service business, and double digit global growth in masks and accessories.
- These results are particularly impressive given the company is annualizing a robust quarter of growth from the previous year.
West Pharmaceutical Services: Contract Manufacturing Expansion & Other Major Drivers
- West Pharmaceutical Services, a globally recognized leader in innovative solutions for injectable drug administration, reported a strong start to the year 2024, despite several challenges in the market.
- The firm recorded a slight decrease in organic sales, operating profits and diluted EPS compared to Q1 2023 due to market dynamics, primarily inventory adjustments, and customer destocking, which is the reduction of excess inventory held by customers.
- Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
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