Bioventix Dividends - BVXP

Bioventix Dividends - BVXP

Stock Name Stock Symbol Market Stock Type
Bioventix Plc BVXP London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
25.00 0.64% 3,945.00 12:32:18
Open Price Low Price High Price Close Price Previous Close
3,925.00 3,925.00 3,945.00 3,945.00 3,920.00
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Industry Sector

Bioventix BVXP Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

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Top Posts
Posted at 03/1/2023 22:46 by strollingmolby
Not sure I saw this posted from early-December - Keith Ashworth-Lord in the IC:


"Keith Ashworth-Lord, chief investment officer of Sanford DeLand Asset Management and manager of CFP SDL UK Buffettology Fund (GB00BF0LDZ31), explains why he invests in antibody producer Bioventix (BVXP).

"Bioventix is one of the most attractive businesses in the Buffettology portfolio. It occupies a genuine niche where the economic moat [competitive advantages] is protected by regulatory affairs, in particular the need for product approval from regulators on both sides of the Atlantic, which can take several years to obtain.

"The product concerned is high affinity, monoclonal antibodies harvested from sheep. When you go to a GP for a blood test, your sample containing antigens gets mixed with a reagent containing antibodies. This is then read by a machine to determine if you have any conditions, such as vitamin D deficiency. Bioventix sells its product to the big five machine manufacturers and in return gets a royalty – typically 2 per cent – every time a test is done on its machine. For the manufacturer, the royalty is a relatively small proportion of cost and as long as the antibody is working, why take the risk of moving to an unproven rival product?

Growth has been consistent over the past 12 years with a compound annual growth rate in revenue of 10.1 per cent over the past five years and 17.3 per cent over the past 10 years. The slowdown is because its revenues from a major antibody terminated after 10 years, as planned, in August 2021 with the loss of £1.2mn in sales. In its last financial year, gross margin was 93.9 per cent and operating margin was 79.1 per cent – this is a product with very little cost of sales attached.

"The wealth of the business rests with its employees' expertise, of which there are just 17 in total. Per capita sales and profit are an astonishing £690,000 and £545,000, respectively. Being an asset-light business, the return on average equity is 63.8 per cent and the conversion of profit after tax to free cash flow has averaged at 101 per cent over the past five years. With its major costs being research and development, and staff, Bioventix is able to pay generous dividends. Including supplementary dividends, all and more of earnings per share (EPS) have been returned to shareholders for five years without fail."

Posted at 29/12/2022 12:15 by maddox
Excellent to see this paper published - and remarkably promising results. The prospects for a BVXP developed blood test for Alzheimer’s disease thus look optimistic. It works, I think it's just a question of how well and how well in clinical application? A test for Alzheimer's also needs an effective treatment otherwise not going to much used outside of the research field.

This looks like a highly significant step-forward in addressing this awful disease. if any of you like myself have had relatives suffer from Alzheimer's will know just how miserable it is.

Congratulations to the research team!

Posted at 06/12/2022 21:26 by maddox
Hi qvg,

The paper casts doubt over the efficacy of reducing Tau as a means of preventing degenerative decline. Whereas Gothenburg Uni/BVXP are focussing on using Tau as a marker predicting dementia at an early stage rather than as a target for treatment.

The paper cites Ossenkoppele et al., 2021, 'Tau accumulation is a terminal event in neurodegenerative disorders, and because the increase of CSF tau in patients with AD occurs closer to the onset of neurodegeneration than does the decrease of Aβ42, tau has been shown to correlate to a greater extent with dementia than Aβ42, with tau aggregates predicting dementia better than Aβ deposits'

The paper is thus supportive of Tau as a predictor of dementia, and hopefully its use in a simple blood test for wide spread screening.

Posted at 30/11/2022 17:21 by maddox
Great news today on the potential treatment of Alzheimers with drug lecanemab from manufacturers Eisai and Biogen.

One of the problems with a new drug such as this is how do you identify potential patients at an early stage of dementia that will benefit from treatment. A lumber puncture or a PET scan are the current means of diagnosis - which are impractical.

This is where BVXP has a promising alternative diagnostic. As stated in the recent results:

'a biomarker that has shown potential in Alzheimer’s diagnostics is the Tau protein in the form of total Tau and phosphorylated Tau. During the year we created more anti-Tau antibodies and this work will continue into 2023. Our academic collaborators at the University of Gothenburg have used our antibodies to create prototype assays and have generated encouraging data from patient blood samples. The levels of Tau detected using our antibodies are approximately 2 times higher in Alzheimer’s samples compared to controls, a ratio of 2 times being similar to other research groups. Our scientific target ratio is slightly higher at 4-5 times. We are encouraged by this progress and plan to create more antibodies to support further work with our collaborators in Gothenburg during 2023. The recent success of the Eisai/Biogen lecanemab clinical trial is likely to increase the need for early diagnostics and we are very fortunate to be working with one of the world’s leading labs focussed on Alzheimer’s biomarkers and tests.'

Posted at 23/11/2022 09:18 by robow
from Citywire

Ashworth-Lord: Bioventix offers ‘astonishing’ equity return

Bioventix (BVXP), a specialist developer of sheep antibodies, has delivered an ‘astonishing’ return on equity over five years, according to Sanford DeLand fund manager Keith Ashworth-Lord.

Ashworth-Lord, who holds Farnham-based Bioventix in his £855m CFP SDL UK Buffettology fund, said in his latest commentary that the stock remained unchanged ‘despite an outstanding set of results for the financial year ending June 2022’.

Sales were up 7% as its vitamin D antibody returned to ‘double-digit growth’, leading to a 15% increase in operating profit and the operating margin expanding 79%.

‘That is not a typo,’ said Ashworth-Lord. ‘After-tax earnings increased by 15% and 98% of those earnings were converted into free cashflow, which helped to fund a 20% increase in the ordinary dividend and another special dividend.’

He said capital requirements were ‘very limited’ and over the past five years ‘Bioventix has managed to increase after-tax earnings by £2.8m, while the amount of equity capital employed in the business has increased by just £1.7m’.

‘The incremental return on equity over the past five years is an astonishing 164%,’ he said.

Bioventix fell 1.4% yesterday to close 50p lower at £36.50. They have risen 7.4% this year and are up 38% over five years, valuing the company at £190m.

Posted at 24/10/2022 11:44 by stepone68
Margins remain high. Cost of sales for some reason dropped over 100k compared to the previous 3 years.

EPS and divi both around 150p, which was what I was hoping for, leaving P/E ratio around 23 and yield 4.4%. Doesn't look too expensive for a growing company.

Troponin almost doubled (again!). Hope that trajectory continues - they seem to think it might.

They also seem confident on their pipeline of research projects which will delivery revenue 2026-36. Sounds good to me.

Posted at 26/9/2022 09:57 by stepone68
Depends on what fx rates analysts have been using in their forecasts, and how much they have changed. Possibly not that much (i.e. they were already lower than spot rate). Plus other companies will also benefit from the weak pound, not just BVXP.
Posted at 15/9/2022 09:51 by stepone68
Well, because I've got nothing better to do, I looked back at previous updates. The last one, as mentioned above, was 2017 !

In it, they said, "revenues for the financial year ended 30 June 2017 are expected to be marginally in excess of £7M (2015/16: £5.5M). Since the cost-base of the Company continues to follow a similar shallow trajectory as in previous years, both revenues and profits before tax are expected to be ahead of market expectations for the year ended 30 June 2017"

So, they actually gave a figure for turnover there! Looking at my notes, forecasts in 2017 were saying revenues of 6.3m. After the update, forecasts were showing 7.06m. The actual came in at 7.25m. So that looks like a bit over 10% to me, and they only said 'ahead' (i.e. no mention of 'materially' or 'significantly').

In August 2016 they also gave a revenue number - "in excess of 5.3m", and once again simply said profits would be "ahead". Forecasts had been saying £4.8m. So, again it looks like they were about 10% ahead, and, in the end, turnover was £5.5m.

In both those years, though, the high margins meant that EPS was 30-40% above forecasts.

This year, they did use the word 'significantly', so we should surely expect at least 10%, if not more! So, I'm going to take a punt on 11.4m turnover, eps 150p, dividend 150p - and I'm actually hoping for slightly more!!

Fingers crossed,

Posted at 28/3/2022 08:21 by piedro
Interims ...

"Board is pleased to announce a first interim dividend of 52p per share which represents a 20% increase on the interim dividend paid last year (43 pence per share). The shares will be marked ex-dividend on the 7 April 2021 and the dividend will be paid on 22 April 2021 to shareholders on the register at close of business on 8 April 2021."


Posted at 11/11/2021 16:02 by jonut
Full list of bvxp rns's here,

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