Gyg Share Discussion Threads

[wad collector] 17/9/2007 08:35

Well , those results are not impressive ,it has to be said.Still , at least it hasn't made any subprime loans.I hope.

[maddox] 14/9/2007 11:41

Rivaldo,

Thanks for keeping us informed. Good to see this getting, as you say, some heavyweight institutions backing - hopefully will keep the price up.

Regards, Maddox

[rivaldo] 13/9/2007 21:31

More heavyweight analyst backing today:



"JP Morgan reiterates overweight on Gyrus Group (GYG) (cutting target to 553p from 568p)."

[rivaldo] 12/9/2007 16:08

Stick with it wad collector imo - short-term is irrelevant if you're after decent gains of 50% or more as probably most of us on this thread have.

For example, from yesterday:



"Gyrus
Posted on September 11th, 2007 in Market whispers.

Morgan Stanley says the recent share price decline presents a buying opportunity. With a price target of 517p, broker says: 'Although Gyrus has experienced more than 10% share price decline in the last two months, we believe there is no fundamental reason for this.'"

[wad collector] 20/8/2007 10:13

Ooh err , sinking like a stone last few days ,seems to be bucking the recovery trend .I can't see why , can anyone?

[rivaldo] 10/8/2007 15:02

Hello?! A stand-out performance on such a day - so far anyway.

[rivaldo] 09/8/2007 17:58

And today we see a fall in response to US falls. So predictable :o))

FYI from today's Shares Mag:

"Gyrus (GYG)
This is the type of chart that seems to shout opportunity. Previously a great performer for this column, generating a return of 26% in the five months following last November, we subsequently called for weakness from 474p
toward 405p in mid-June. The daily chart clearly shows the reasoning behind this was a well-defined head and shoulders top pattern that developed between April and mid-July.

Some of this expected move has occurred but 405p now looks a little too much to expect. The important factor is the converging of the 200-day average with the long run bull trend line and support from 425p, the high seen in
February 2005. That strong combination suggests a good chance that falls will be curtailed in favour of a return to the up trend toward a test of 480p in the first instance."

[grigor] 07/8/2007 21:41

Decent rise - Response to US news?

[wad collector] 30/7/2007 12:41

424 now , doesn't seem too many people thought it was that compelling!

[rivaldo] 18/7/2007 12:28

More good stuff today from JP Morgan:



"Gyrus
July 18th, 2007 | Market whispers | No comments.

JP Morgan says trading update was bullish and the valuation compelling. Remains overweight with a price target of 569p a share.Broker says: 'Since reaching a high of 524p on 23rd May the stock has pulled back 10.3%. Trading at just 18.7x our revised 2008 EPSA of 25.1p (prev. 25.0p) and offering a 17% 06-11E EPSA CAGR, we believe Gyrus offers a compelling opportunity.'"

[wad collector] 17/7/2007 18:09

Good to see another upgrade, though I see there is another neutral in same article.Ah well, we knew it was going to be a long haul.

[rivaldo] 17/7/2007 13:33

Underlying growth is just fine, and the company are indicating being nicely in line with consensus - which means there's room for upgrades in H2. Talking of which :o))



"Numis has upgraded Gyrus to buy from add with s 562p target"

[wad collector] 17/7/2007 10:05

Blue amongst red this morning with the trading statement out.Dollar weakness blunting the earnings growth ;I am always a bit worried to see lack of progress blamed on currency movements.The converse doesn't seem to be true - companies seem happy to take credit for the opposite movements.
However , the currency situation is unusual so I guess we should be cool about it.Did I catch mention of the dividend....? Oh no ,I forgot , it's a R&D company!

[rivaldo] 12/7/2007 10:01

Nice...the long-term uptrend we know and love here should be resumed imminently :o))



"July 12th, 2007 | Market whispers | No comments.

UBS says buy after yesterday's trading update. Broker adds: 'We value Gyrus using a 15 year DCF, and then applying a terminal growth rate of 2.5% to perpetuity, leading to our price target of 570p.'"

I assume they mean the update from July 10th.

[wad collector] 12/7/2007 09:39

568 target seems far off this morning as we have slumped to 458.Hopefully just a blip .17% compound annual growth sounds an impressive projection providing the government doesn't tax it more heavily!

[maddox] 10/7/2007 14:39

A bit more news.....

Gyrus to meet guidance on surgical workstations - CFO

LONDON (Thomson Financial) - Gyrus finance chief said the company should
meet its guidance of installing 600 new generators, which power its range of
surgery tools, this year. The group launched the G400 surgical workstation last year, installing 407
units.
"It looks as though we're very firmly in the spread of 600-1,000,"
said Gyrus finance chief Simon Shaw, speaking at the Numis healthcare conference in London. Gyrus is due to release a trading statement next week.

[e-mail]
mn/dca

Oakey dokey, so we're in line with guidance given - is that the basis for JP Morgan's projections? An interesting question.

Regards, Maddox

[maddox] 10/7/2007 10:58

Hi Rivaldo,

Well spotted.

I think that the acronyms at the end need to be deciphered. CAGR is Compound Annual Growth Rate and I believe EPSA is Earnings per Share before Amortisation (of Acquisition Intangibles). Then the 06-11E is the estimate for the period 2006 - 2011. Which at 17% compound annual growth over five years should more than double the value of Gyrus, all other things being equal.

Lets hope that they are correct!

Regards, Maddox

[rivaldo] 10/7/2007 09:28

JP Morgan still very positive today:



"Gyrus
July 10th, 2007 | Market whispers | No comments.

JP Morgan remains overweight on the stock as it previews the upcoming trading statement. Has shaved its price target to 568p from 575p. It adds: 'We continue to believe in the strength of Gyrus' product portfolio and its ability to deliver 17% 06-11E EPSA CAGR.'"

[wad collector] 28/6/2007 16:06

....there is no dividend.Bought back at 474.75- increased holding by 3% including fees.Perhaps it is not worth the risk for a poxy 3% but it is fun.

[wad collector] 20/6/2007 17:53

Ooh , I can feel a chance to buy back in coming.....and all I have lost is the dividend.Oh no , I forgot ...

[maddox] 25/5/2007 14:59

In answer to the question 'whats' new with Gyrus - why the re-rating and up-graded forecasts?'

The clue in the JP Morgan news is the reference to General Surgery. OK, we have discussed this before on the BB but lets do a reprise for anyone attracted by the price rise.

Keyhole Surgery was until quite recently regarded as a specialism applicable to specific areas of surgery. Gyrus, for example, was seen as focussed on Gynaecology, ENT and sports injuries. Thus the market opportunity was viewed as similarly contained.

However, the key point for investors that JPM is highlighting is the current growth in the use of keyhole techniques for almost all surgical procedures, with very few exceptions. More surgeons are adopting keyhole surgery, more types of operations are available and the increase in patient throughput possible is contributing to a far larger market opportunity. In short the keyhole surgery market is becoming the general surgery market.

If you wish to have some independent validation of this trend have a look and listen to BBC Radio 4 'Case Notes' on Laproscopic (Keyhole) Surgery. Link:

- transcript available

It also illustrates the benefits for hospitals and patients of keyhole surgery. Patients are having complex surgery and can be in and out the same afternoon. It is now typical for operations that could have required as much as a seven day stay in hospital such as for gall bladder removal. The operations are quicker and safer, there is less post-operative pain and the surgical results are better.

These excellent results are not just applicable in the specialist areas where the techniques were pioneered but to almost all the general surgical market. Firms such as Gyrus are thus extremely well placed to follow this trend and do very well out of it. Their products such as PK Seal are remarkable in what they can do - why not have a look

Regards, Maddox