Consort Medical Share Discussion Threads

[deej4y] 20/12/2012 09:52

Selling Kings Systems for £105m

[dozey3] 20/12/2012 09:10

Big rise today. Up nearly 6% at 0900. Anyone know what's up? Or am I talking to myself?

[dozey3] 04/12/2012 21:17

apatel21, I don't understand. What ethical grounds? Smokers are addicted to nicotine, and try as they might many cannot kick the habit. Unfortunately smoking involves ingesting all sorts of nasty chemicals and spreading them amongst near neighbours. The beauty of the nicotine inhaler is that it satisfies the craving without all the side effects, or at least most of them. Furthermore, since nobody can possibly be enticed to start the clinical inhalant, it will enable the banning of smoking full stop. (Don't hold your breath though).
Like you, I will never invest in tobacco, but this should be regarded as a cure for the afflicted and hence very ethical.

[apatel21] 04/12/2012 17:24

Well my £8.00 target by year end has come to fruition.

Sadly i will no longer be holding on ethical grounds.

[dozey1] 04/12/2012 10:43

Well Cerrito, they are flying today, 831p at 1030am. This is presumably on the back of the announcement yesterday of the contract for the nicotine inhaler.

Guess there are institutions anxious not to be light CSRT in case the inhaler becomes a very big thing indeed.
The CE said "...The full extent of the revenue opportunity will only become evident following regulatory approval and the product launch. Whilst we do not expect any near term revenue impact, we are optimistic about the prospects for the product in this very promising market." So plenty of snags could arise but risk/reward suddenly looks good.

[cerrito] 01/12/2012 16:23

Saw this in UK analyst Friday summary

N+1 Singer maintained a "buy" stance on Consort Medical (CSRT) with a target price of 815p. The broker envisages a number of potentially catalysing events to occur in the near future, including a decision on whether Consort has been awarded a manufacturing contract for the nicotine inhaler device (DEV 200,) which could generate revenues not yet factored into forecasts. The company's current transformation plan also interests the broker, with upcoming results anticipated to show a significant margin enhancement from the second half of the year onwards. The shares slipped down by 1.5p to 758.5p.

[ianms2012] 16/11/2012 10:20

Digital Look

[cerrito] 24/9/2012 20:33

FWIW,Trader Talk in the Evening Standard had a piece about the Montanaro purchase. It also mentions that Canaccord Genuity upped in August its forecast to 824p and Singer went from 604p to 927p-I do not realistically expect it to get £8+ in the next 6 months .

[cerrito] 30/8/2012 12:55

Agree with you Dozey1 and muted share price reaction justified.
It is good to see positive comments about King, although I note comments in the last 2 year's annual reports that the hospital care community is conservative and difficult to get a handle on how much this all represents in pounds shillings and pence.
One needs to remember that operating profit before special items was £3.3m in the last FY a far cry from the £4.6m and £5.4m in the FY to 4/08 and 4/09 respectively.
I know I am being a bit pesky but do note that over last 5 years they have made every year comments about need to boost King's international sales- perhaps the non US health care community is as cautious as the US one.
Could not organize myself for this afternoon's AGM and will not be selling more or indeed buying for the time being.

[dozey1] 30/8/2012 10:13

Interim statement is here

Steady as she goes just about sums it up.

Doze

[cerrito] 27/8/2012 18:17

I did a modest top slice last week
Anyone going to AGM
I mean to go every year but something always seems to come up so am doubtful for Thursday.

[dozey1] 27/8/2012 16:36

Very quiet on here, whilst the shares have pushed through the 700p barrier. Must be one of the best performers amongst the middle caps this last couple of years. My interest dates from when they took over Medical House, a great favourite of mine, and I took a fair sized holding. Recently I've thought of top-slicing since it could be getting ahead of itself, but a prospective p/e of 13 for a well managed growth company in an (almost) recession-proof sector is not asking too much.
A takeover above 800 is not far-fetched at all IMO.

Doze

[apatel21] 14/6/2012 14:06

Hi Cerrito

Thanks for your postings.

Good Results. Would have liked to have seen an even stronger outlook statement.

Looks like a takeover target @850-900p

[cerrito] 14/6/2012 09:23

Had a quick look at the figures.
Good to see profits at top end of expectations and robust outlook statement.
Reiteration of strong financial position and good to see pension fund under control.
Had been expecting an increase in their dividend, but having looked at the cash flow understand why they have maintained it given last year's increase in Capex(which I had not foreseen) and hence increase in borrowings.
Surprised to see in the cash flow that £1m spent on share buy backs as there appear to have been no RNS on this and indeed the number of shares in issue between June 30 2011 and May 1 2012 increased slightly from 28,946K to 29,011K.
Reminded that UK banking much more profitable now as even a company of their strength are paying a margin of between 2 and 3% for 4 year money.
Will be neither adding or selling as a result of this announcement.

[cerrito] 16/4/2012 20:04

Pleasantly surprised by strength but have no intention of selling
Read this in today's UK Analyst
Shore Capital initiated coverage of Consort Medical (CSRT) with a "buy" recommendation, impressed by the inhaler manufacturer's strong recovery since the loss of a major contract. The broker said that the company has diversified its business and noted that the King Systems division is one of the leading businesses in its sector in the US. Shore added that the group's Bespak division offers higher operating margins and expects Consort to focus on developing this portion of its business. The shares were unchanged at 653p.

[cerrito] 02/12/2011 15:52

Not had time to have a good look at yesterday's figures but note the following comment from The Independant
Consort Medical
Our view: Buy
Share price: 530p (+32p)
The market was certainly pleased with Consort Medical's update yesterday. The medical-devices firm issued half-yearly figures, which sent its stock up sharply on the day. Revenues in the six months to the end of October were up 5 per cent at nearly £69m, while pre-tax profits were up more than 50 per cent (profits before tax and special items were up 22 per cent).
The group, which maintained its interim dividend at 7p per share, was boosted by strong volumes at its Bespak unit's core respiratory division. Net debt was up, as Consort pressed on with its planned investment activities, but, at 1.3 times earnings before interest, tax, depreciation and amortisation, it remains within the company's borrowing covenants and facilities.
So, not much to fault. Although the economy both here and in many other parts of the world is not doing great, Consort remains confident, which shouldn't come as a surprise given the size and the trends in the broader market for respiratory illnesses.
Not that the company is being complacent; yesterday, it also announced a contract to develop a device that looks like a cigarette and acts as a replacement for nicotine. This is also a growing area, and Consort's efforts in this direction are encouraging.
At just under 11 times forward earnings, with a dividend yield of just under 4 per cent, the stock is also affordable.

[dozey1] 20/7/2011 16:17

The full announcement is at

[dozey1] 20/7/2011 14:18

Well, here's a good reason to hold on . Today CSRT announced a further investment in Atlas Genetics Ltd, together with others. This means there is a very good chance that the firm will succeed with CSRT in pole position to manufacture the consumable test units. I am not selling anytime soon.
Real all about it:

Atlas Genetics has developed novel, robust and extremely sensitive methods for the rapid detection of DNA.

Our point-of-care Velox™ platform will perform a DNA analysis from a clinical sample such as blood or urine within 25 minutes using a discrete test cartridge inserted into a small instrument. This makes the holy grail of "test and treat" attainable.

Clinicians, nurses and vets will be able to make immediate assessments of patients and advise or administer treatment at a first assessment. Critically the technology, and associated instrumentation required, will be small, simple and low cost, opening up a range of out-of-lab markets that have previously been unavailable.

Atlas' technology is generic and can be applied to any condition where DNA or RNA detection can be used to identify an infectious micro-organism or determine the correct drug prescribing regime .

We are currently developing assays for the Velox™ platform for the diagnosis of:
Human

* Chlamydia / Gonorrhoea
* MRSA
* Group B Streptococcus
* Bacterial Meningitis
* Norwalk Viruses

Equine

* Respiratory infections including Strangles

[cerrito] 16/6/2011 12:48

Having looked at today's figures, the current share price is to me pretty much correct-perhaps a very modest rerating. Note that eps in 10/11 was 45p giving a pe of 11.7x
Mildly surprised that the dividend had not been increased; for some reason had not focused before on the pension deficit; cash contributions have been £2.7m odd in each of the last two years-ie just over half of the cash cost of a dividend. Now that the deficit is down to £6m odd,hopefully there can be a reduction in the scale of the contributions.
They do have balance sheet strength and finance costs were only 15% of operating profit. Cash flow position not bad but operating cash inflow barely covered cash for investment and dividends/share buy backs, and did not cover these needs and cash payment for the pension fund.
On segmental information noteworthy that UK revenue went down quite a bit from £24m to £20.7m(not surprising I guess given hiatus in NHS), US up a bit to £50m and ROW doubled from £7.9m to £15.6m. No surprise after reading the statements that just under 75% of the operating profit pre special items came from Bespak drug delivery with the rest from King Systems and after special items, King Systems just broke even on an operating basis. Indeed good that the core respiratory business performed very well given the week markets that King is operating in and the conservative nature of the anaesthetic market.
See no reason to buy or sell.

[cerrito] 14/3/2011 08:38

Today's IMS was fairly reassuring and the small share price reaction was about right.
Interested to see the difference in fortunes between Bespak and King; looking at the first half figures, while Bespak is much bigger than King in terms of revenues(£45m vs £24m) and operating profit(£7m vs £2m), in terms of net assets King's are bigger; at 10.10 they were £66m vs £46m at Bespak and indeed the year before the difference had been bigger(£65m vs £26m).

[cerrito] 17/2/2011 10:11

Collins Stewart have initiated coverage with a 610p target

[mg1982] 07/1/2011 12:37

they seem like buys as they were at a premium - 115p

[colurb] 07/1/2011 12:33

2 trades for 100,000 shares each gone through today

[yespmedc] 04/1/2011 15:52

New note -