In today’s briefing:
- Shockwave Medical Inc (SWAV US): An Emerging High-Quality Cardiovascular Devices Idea
- Metropolis Healthcare (METROHL IN): Adani & Apollo Eyeing Majority Stake? Could Outperform Dr Lal
- Diamond Hill Large Cap Concentrated Fund Q1 2022 Market Commentary
- Gland Pharma- Management Meet Update
- Marksans Pharma- Management Meet Update
Shockwave Medical Inc (SWAV US): An Emerging High-Quality Cardiovascular Devices Idea
- Shockwave Medical Inc (SWAV US), with its differentiated local delivery of sonic pressure waves for the treatment of calcified plaque, seeks to establish a new standard of care through IVL.
- The company is advancing IVL system for multiple large addressable markets totaling over $8.5B. Shockwave’s revenue has five-year CAGR of 244%, with continued improvement in gross margins.
- Ongoing clinical programs to expand geographies and indications should further accelerate growth. Recently, the company obtained marketing approval in China and Japan.
Metropolis Healthcare (METROHL IN): Adani & Apollo Eyeing Majority Stake? Could Outperform Dr Lal
- Several press reports regarding potential takeover speculations related to Indian diagnostics company Metropolis Healthcare Limited (METROHL IN) have emerged in the Indian press over the last few days.
- Metropolis Healthcare Limited currently has a total market capitalization of US$1bn.
- Below is a closer look at the details of the situation.
Diamond Hill Large Cap Concentrated Fund Q1 2022 Market Commentary
- Diamond Hill invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline and client alignment.
- During a volatile quarter, Diamond Hill Large Cap Concentrated Fund performed roughly in line with the Russell 1000 Index.
- The market environment in Q1 provided a meaningful opportunity for us to initiate positions in high-quality names.
- From current levels, equity market returns over the next five years are likely to be below historical averages.
Gland Pharma- Management Meet Update
- Shortages that affected US business are resolved: Gland Pharma faced challenges in the US business on account of key component shortages like syringes, vials, stoppers & needles etc. as its major USFDA-approved supplier rooted its capacity for vaccine manufacturing, leading to residual orders getting piled up.
- Levers for EBITDA margin enhancement going forward: Gland Pharma will have a single- minded focus on EBITDA margin rather than gross margin.
- Effect of thrust on the CDMO business: Gland Pharma does not see significant enhancement in opex on account of CDMO business going forward given that costs have already been absorbed in 4QFY22.
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Marksans Pharma- Management Meet Update
- Efforts around portfolio selection and disciplined R&D has helped the company profitably build its export formulations business
- Outlook: The company will incur capital expenditure on its existing facility upgradation; and it is also open to pursuing an acquisition (~Rs2,000mn is the allocation).
- Targeting customer acquisition and geographic expansion in the US market: The company has added new retailers in the US market with an intention to penetrate tier 2 & tier 3 cities.
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.
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