Consort Medical Share Discussion Threads

[martini] 22/2/2016 18:47

hxxp://www.businessweekly.co.uk/news/biomedtech/cambridge-role-%C2%A3135m-medical-technology-investment

[cerrito] 22/2/2016 10:33

What caught my eye from this morning's announcement is that CSRT has 2k employees-never appreciated it was that big

[martini] 07/1/2016 18:56

Consort Medical plc (CSRT) PT Raised to GBX 1,150 at Investec

hxxp://zolmax.com/investing/consort-medical-plc-csrt-pt-raised-to-gbx-1150-at-investec/291140/

[martini] 23/12/2015 22:38

Looking good going into the last day of 2015.

[cerrito] 04/12/2015 18:56

Gone through the interims.
All rather complicated given trying to work out the impact of the Aesica acquisition and the fact that they did not have a results presentation webcast-I find these very useful. Overall I have the sense that we could have done with more info.
Broadly speaking the kind of results we have come to expect- solid steady progress.
Liked the cash flow statement with net cash from operating activities at £16 m well in excess of the £11m combined of investment and equity dividend outflows. Also the organic sales growth of both Bespak and Aesica.
I was reminded of the importance of Europe to Aesica-ie European sales have gone up from £28m to £85m.Also Aesica had issues with profitability-its operating profit before special items was only £5m compared to Bespak's £11.5m and Aiseca's total assets at £286m dwarfed those of Bespak at £110m.
Also Goodwill represents more than 25% of total assets and will be V interesting to read the footnotes on valuation of goodwill in the annual report.
I am not planning to either buy or sell in the immediate future and my take is that for the next few months the share price will be on the 940/1020 range.
PS Nicoventures seems to have gone V quiet
PPS I see that following the results Investec have a buy with a tp at 1033 and Brewin Dolphin a hold-both of which to me are in the zone. I see that revenue projections for this FY are unchanged at £284.95m and earnings also unchanged at 50.85p
PPPS I see they are talking about confidence in meeting board's expectations for the Full year and would be good if we knew what it is.

[cerrito] 16/6/2015 16:40

Had a look at the accounts and listened to the webcast.
Putting on one side the increase in the IAS19 Pension Deficit and the £17m special charge from continuing operations, a lot of good news. Glenn emphasized in the webcast that he integration going on plan; bpk put three projects into their development programme where normally they would guide for one pa and debt s lower than forecast.
Given the increase in shares probably not realistic to expect an increase in the dividend, and management said they wanted to decrease debt.
I continue to feel very comfortable with my holding here and am not planning to buy or sell

[cerrito] 29/1/2015 22:43

Interested to read the announcement today. The way I read their comments today and indeed previously is that the plant for this has been built for 6 months and it seems unoccupied except for testing so quite a lot invested.
Note that in the Annual/Interim Report they said to expect CE mark in H1 2015 . No emphasis on this product mentioned in the interims so perhaps do not see this as a key product, but also note they have invested £6m which for CSRT is a lot ie total investment in property plant and equipment was £7m in first half of this year. Cannot find any figure for total investment anticipated in Atlas and also today seems to be the first time we have been given a timeline.

[beaufort1] 04/12/2014 13:29

Up 8% on today's results - nice!

[mike740] 07/11/2014 10:11

Broker Views on CSRT........

Consort Medical PLC

FORECASTS

2015 2016
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Edison
06-11-14 None 17.94 41.28 18.11 18.91 43.21 18.11
Peel Hunt LLP
06-11-14 BUY 22.62 37.99 19.02 33.78 47.65 19.96
N+1 Singer [D]
06-11-14 HOLD 22.37 35.90 17.90 32.54 45.40 17.90
Arden Partners
06-11-14 BUY 22.80 45.01 18.11 33.30 53.63 19.50
Shore Capital
31-10-14 BUY 18.40 46.18 18.11 20.00 49.68 18.11
FinnCap
31-10-14 HOLD 22.00 39.80 20.70 32.10 51.40 20.70
Westhouse Securities
30-10-14 BUY
Canaccord Genuity Ltd
09-10-14 BUY 22.26 37.40 14.34 33.34 46.56 18.11
Numis Securities Ltd
01-10-14 HOLD 18.60 45.48 18.11 20.20 49.33 18.11
Investec Securities
04-09-14 BUY 18.30 52.14 20.70 19.60 55.83 20.70

[mike740] 07/11/2014 07:49

CSRT CONSORT MEDICAL,lovely tech set up here, results in about a month. Investech set 986p target Canaccord 996p target.



IG...............Client sentiment

100% of IG client accounts with open positions in this market expect the price to rise.
0% of IG client accounts with open positions in this market expect the price to fall.

[cerrito] 22/10/2014 10:49

Intriguing deal announced today
I am taking up all my rights

[woodcutter] 15/10/2014 10:15

i traded CSRT mid year, bought and then sold when the share price hovered early july. The recent drop may be a buying opportunity and i'm currently researching latest news too. Will advise if i buy.

Been doing very little at all lately, playing the waiting game but being mostly cash for most of the year the recent falls across the markets may be presenting some opportunities.

Woody

[cerrito] 14/10/2014 20:29

While I see that in the last 2 weeks Numis and N1 Singer have downgraded from buy to hold still surprised that has fallen so much in last few days but before I buy I need to get up to speed with their acquisition

[masurenguy] 15/9/2014 08:17

FinnCap keeps tabs on Consort after inhaler approval

FinnCap analyst Keith Redpath is keeping his recommendation for healthcare company Consort Medical (CSRT) under review as the shares received a boost from the approval of a new nicotine device. BAT has gained approval from the Medicine and Healthcare Products Regulatory Authority for the Voke Inhaler, with Consort Medical holding the contract to manufacture the product. Consort shares jumped 8.8% to £10.30 on Friday on the news. But Reedpath is waiting for further news. ‘This is not the commercial product, and a variation to the licence will now be submitted, and it will be this product that will be launched, following approval,’ he said. ‘The timing of this additional regulator step is not disclosed. Our forecasts remain under review

[cerrito] 02/8/2014 18:27

Saw a comment in the FT on BAT's interim results saying the BAT CEO talking down the potential of e cigarettes.
They mention vype which is on the market but my understanding is that CSRT are not involved in their manufacture.
I went on the Nicoventures website and read the following
quote
Nicoventures' first licensed product will involve novel nicotine technology in a device being developed by Kind Consumer, a healthcare research and development company focused on inhalation technologies. The application for the licence for this product is currently being considered by the MHRA.
The licence application for a second product, an e-cigarette developed by CN Creative, has also been submitted.
unquote
I guess it is the Kind Consumer project that CSRT are working on but every day that passes get less gungho on what Nicoventures may offer CSRT
-

[cellars] 23/6/2014 15:16

Cerrito, thanks very much for the summary. also agree your conclusion

[woodcutter] 23/6/2014 08:54

agreed share price most likely range bound for the foreseeable future.

[cerrito] 19/6/2014 12:29

Looked at the figures and been through the webcast.
Big picture was that Glenn was very pleased with what they had achieved last year both financially and in increasing revenues and in new product development
On the financials interesting for me that pension liabilities have gone down from £11m to £2m because they adjusted the discount rate-not sure if many other UK companies doing this.
Did recognize there was a working capital outflow but all under control
Signalled that capex will be bigger this year than 13/14

Very up beat on the chiese inhaler; mentioned the facility that building for Dev 610-bigger than the one for Nicoventures- and that come calendar 2016 good chance that Dev610 would be their biggest product line.
Talked about diversification not only in product line but by customer. In the q and a mentioned relationship with GSK which is big as GSK is the largest respiratory company but Advair sales account for less than 10% of profit and felt comfortable they can cope with the decline in Advair sales.
Not affected by currency as they bill in £-note in H1 13/14 50% of sales were in Europe, 20% in UK, 15% in USA and 15% in ROW. I have never heard any discussion on how much scope they feel there is for hem by increasing their market share outside the UK.
Could give no timing on nicoventures-ie never second guess the regulator but did say that nothing has come up that gives CSRT any cause for concern.
Note that H2 was not as as good as H1; this did not come up specifically save they said that some valve sales were down and we were told this was just a matter of timing.
No one asked about the payments that Ambu are making as deferred consideration for the King sale. They got no payments in the last financial year but did get $12.4m in May but would have been good to get a feel for what Management were thinking they would be getting.
In q and a discussed their purchases of companies; emphasized that they were only interested in buying companies who operate in CSRT's core business and took a very cautious attitude given the risks involved.
Upbeat on the Cambridge Centre which costs £1.5m a year a figure that will go up as they increase their manpower.
Said that this least year they had beaten consensus and it was their aim to do this every year.BTW I note that for this year ie 14/15 as per Digital Look eps is forecast to be virtually the same as last year's 48.3p before being forecast to go up in 15/16 to 53.9p.
I like this company and the way they go about their business and clearly a lot of things going on.
Would be more excited about nicoventures if I saw more buy in in the UK for e cigarettes.
More than happy to hold though not sure if I see the share price doing all that much either upwards or downwards .

[woodcutter] 19/6/2014 08:31

it's also fallen behind the sector index NMX4530 which may suggest further uplift in share price



WC

[woodcutter] 17/6/2014 10:03

Strong set of results today, all financial metrics improved. Really good balance sheet and cashflow too coupled with interesting forward looking statement for more growth in 2015.

Nice chart turn around by the looks of it too. Took an initial position on the price/MACD dviergence and will add if it clears the current resistance points after today.

aimho Woody

[cerrito] 19/3/2014 21:47

Interested in no comment today on nicoventures-I assume the reason is that there is nothing much to say but I do get the sensation that things are going a bit quiet there.
Interested to read in UK Analyst the following from Canaccord which make sense to me but if growth going to be so sedate do they justify a pe of 20x+
quote
Canaccord also upgraded its stance for Consort Medical (CSRT) from 'hold' to 'buy', following an in-line IMS statement this morning. The broker said growth over the next 2 years is set to be steady rather than spectacular (c.6% growth annually) with close to double this rate expected in FY16 and beyond as the nicotine delivery product and dry powder inhaler DEV610 launch in late calendar 2014 and 2015 respectively. Canaccord reckons the potential upside from the diversification into higher value areas (drug handling, diagnostics, Syrina and Lila syringes) is still not fully in the estimates, which are primarily based on the strong pipeline of conventional products. The broker kept its price target at 1,044p and the shares closed up by 12p at 1,001p.
unquote