Corin Share Discussion Threads

[pcok] 25/10/2005 00:13

This falls much more I'm back in.

pcok

[mickconn11] 23/9/2005 18:35

Evolution upgrade today. Oh well.

[mickconn11] 21/9/2005 19:30

H&S taking shape. 200 MA in the 340s. Reasonable target. Results next week and all depends really what spin they put on new products.

Sold a few more today. Average now 370s so sort of flat.

[m.t.glass] 13/9/2005 18:45

Yes, spurious weather-related excuses (as from SN) always sound feeble. So feeble that I assumed there must surely be some specific connection this time (like a factory unit wrecked, or somesuch) but apparently not.

[mickconn11] 13/9/2005 18:24

Funny how a medical device company (Smith and N.) blamed Katrina. I always thought it would be a logistic / transportation / etc. sector that would come first.

Either way the SN. news can't be good for Corin. Slightly different story but the sector looks pricey to me.

Short from a few weeks ago and would have added today but got a bad entry point initially so will wait and see.

US peers. bmet, bsx, mdt, syk, gdt, zmh.

And I don't think the market will forget the guvnor went on holiday at the time of the results/ p.w..

Who knows , but I'm heavily short SN. because it's big and I've got small shorts on CRG because it's open to manipulation and I've got fed up lately getting caught in bear squeezes.

[mickconn11] 22/8/2005 19:31

SN. looks like their first in the queue with the FDA.

[mickconn11] 12/8/2005 18:13

Only found this one a few months ago due to having a short position in SN. Smith and his Niece.
So been waiting like a fox to short it and totally ballsed up my timing in entry yesterday and sold at the low of the day but remaining short and will add at the right time. (hopefully).

When big pharma went out of fashion a couple of years ago the medical device sector started taking off for various reasons.
If it's a physical thing you can hold, like a bit of metal it surely couldn't be as exposed to litigation as a dodgy pill but that assumption is incorrect.

All brilliant companies and doing a great job but the market is demanding a high price for them.

From memory now but I think I'm correct. Smith and Nephew came second out of the top 100 companies for Corporate and Social Responsibility.
Now who was first..??

Cheers. Mick.

[m.t.glass] 11/8/2005 23:41

Tempus (Robert Cole)The Times, Friday 12 August:


CORIN'S decision to temper yesterday's profits warning with news of a long-awaited US distribution deal paid dividends. The shares clawed back an early 25½p loss to edge 2½p higher to 400p at the close.

It is a remarkable achievement not least because shares in Corin have already outperformed the all-share index by about 26 per cent over the past year largely in anticipation of such a US deal. No financial details of the deal with Stryker, its larger American rival, were forthcoming yesterday. One can reasonably assume that an exclusive arrangement leaves Corin's new metal-covered hip replacement in the hands of Stryker's 600-strong sales force and that could double bottom-line profits by 2008 to about £16 million. But Corin must first get the new hip through the regulators, of course, and although the signs are promising it is never wise to take anything for granted where the US Food and Drug Administration is concerned.

Hopes for Corin's hip, meanwhile, are reflected in Corin's already demanding rating: and that makes yesterday's profits warning all the more worrying.

Sales in the UK, where Corin's new hip is already available, were flat. The company's performance in Japan and the US was also unflattering. Of particular concern are US sales of a spinal implant that surgeons use on patients suffering back pain. Sales of the device, which last year accounted for more than a third of total revenue, have slumped amid signs that thrifty consultants have found cheaper alternatives.

Corin argues that its future lies in its suite of new hip and knee replacements. And to a point, it is working off sound logic. But it appears that Corin's management, perhaps lulled into a false sense of security by a share price that has risen almost fourfold in three years, has taken its eye off the ball while striving to seal the distribution deal. Such suspicion is lent added weight by the chief executive's astounding decision to jet off on holiday before satisfying the City 's interest in analysing the ramifications of yesterday's announcements. Corin equity looks vulnerable. Sell.

[m.t.glass] 11/8/2005 15:16

Looks like I maybe got it wrong ;o)

Edit: forget the 'maybe' !

[mickconn11] 11/8/2005 09:36

Just gone short at 372.

[m.t.glass] 11/8/2005 08:34

Still had a small upbet in place. Lost a bit on that but reversed it, assuming it might fall further yet.

[mickconn11] 11/8/2005 08:32

Missed it and didn't even know statement was due but watching.

[m.t.glass] 11/8/2005 08:16

did you do it Mick?

[frances2] 11/8/2005 07:42

profit warning - below expectations

[mickconn11] 08/8/2005 18:51

Getting interesting as a short. Will wait for the chart to tell me.

[m.t.glass] 08/8/2005 09:19

Telegraph readers advised to take profits (they always obey)

[m.t.glass] 31/7/2005 10:40

"...SHIL has recently attracted Corin Group, a manufacturer of orthopaedic devices, as a development partner for an artificial disc that could revolutionise treatment for chronic back pain..."

(doesn't look significant (to me) but I post it in case someone thinks otherwise. SHIL website is )

[m.t.glass] 25/7/2005 13:05

Ditto.

Though not impressed by the choice of graphics used in their website makeover. I can see the logic of featuring highly mobile individuals, but it looks like some lightweight tv ad for yoghurt. And one of them looks like investors all jumping out of a window..

[pcok] 25/7/2005 12:21

New highs so back in.

pcok

[eh monkey] 10/7/2005 15:20

Hi, new to this company but it looks interesting for the long term.

Power, your last post made an interesting point about the FDA approval. Regarding the poor long term historical results for metal-on-metal joints, do you not think that much of that is down to poor technology and techniques used in the manufacturing years ago? I am in no way an expert in any medical sense, but as a professional engineer, I imagine the tolerance accuracies in these joints nowadays are significantly greater than the first generation models and therfore much less prone to wear; that must be taken into consideration by the FDA.

Are there any FDA approved metal-on-metal joints already on the US market?

Thanks,

EM

[m.t.glass] 28/6/2005 21:02

Corin slides back on broker's revision
By Nick Hasell
Smaller capitalisation shares
The Times, 28 June 2005



CORIN GROUP fell back from last week’s high as a leading stockbroker cut its current-year profit forecasts for the orthopaedic devices maker.
Shares in the company, which is based in Cirencester, have been buoyed by optimism that it will announce a US marketing partner for its Cormet hip implant and that the FDA will approve the device either late this year or early next.

Although Investec Securities repeated its buy recommendation yesterday, it trimmed its 2005 earnings forecasts by 4.8 per cent to reflect the legal costs of negotiating a US marketing deal and an expected inventory build-up ahead of a launch next year. Corin eased 6p to 372½p, with the FTSE 250 down 62.4 points at 7,266.4.