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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Dechra Pharmaceuticals Plc | DPH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 3,866.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3,866.00 | 3,866.00 |
| Industry Sector |
|---|
| PHARMACEUTICALS & BIOTECHNOLOGY |
| Top Posts |
|---|
Posted at 01/6/2023 09:47 by steeplejack Its rather unsatisfactory that shareholders have to endure this game of roulette as tomorrows deadline approaches.The marketmakers are the only players who will be enjoying this opportunity to jangle investors nerves.I'm not sure whether a further continuation of the due diligence process is permissable .I presume that it is,if the company can convince the panel that meaningful discussions are critically poised. |
Posted at 27/2/2023 10:00 by steeplejack Trading patterns at the start of 2023 have been unpredictable in the US, where wholesalers have been reducing inventory levels. In the second half, we have re-commenced sales in South Korea, we expect an improving contribution from Med-Pharmex and will see the benefit of two recent new product launches, Zenalpha and Zycosan. Based on the recent US de-stocking and current exchange rates, the Board now expects full year underlying operating profit to be at the lower end of analyst expectations.This type of result could be the sort of reality check that moderates investor enthusiasm for equities in general in 2023. |
Posted at 21/2/2022 13:18 by km18 Dechra Pharmaceuticals issued its HY Financial Report this morning. Reported Group revenue for the period increased by 15.9% to £332.4m at Constant Exchange Rate (CER). Underlying operating profit growth was 22.0% with underlying operating margin improving by 140 bps to 28.2%. Underlying diluted EPS growth was 24.0% to 64.01p and the interim dividend increased by 8.0% to 12 pence. So more robust growth and more profitable growth.The business has been growing briskly and profitably for many years now and looks set to continue this pattern in FY22 as well. Unsurprisingly investors have already bought into the story, valuation is rich with forward PE ratio around 31 and bottom quartile for the Pharma sector. The share price is also currently in a 30%+ correction and still falling after a powerful post-Covid rally. DPH is a very good company delivering persistent and robust growth, but there is no rush to buy. Monitor for the time being.... ...from WealthOracleAM |
Posted at 22/10/2021 10:59 by lindowcross Dechra (credit Emma Powell in The Times)Dechra can’t afford to show any signs of weakness. A boom in pet ownership and the amount that people are willing to fork out for their animals has supercharged revenue and profit growth for the pet pharmaceuticals specialist. That’s left the shares with an eye-watering forward price-earnings ratio of 44 — a valuation that’s near a record high. It’s only natural, then, that investors applauded the company’s latest reassurance that market demand, particularly in the United States, had remained strong since the end of June. In an animal health market dominated by large players focused on mass-market products such as flea and worming treatments, Dechra has carved out a niche, prescription-only drugs business primarily for dogs, cats and horses. It has three avenues for profit growth: new product development; bolt-on acquisitions; and expansion into markets where emerging wealth is willing to spend more on pets. SIGN UP FOR OUR ... Weekly newsletter News, inspiration and advice for business leaders from British entrepreneurs thetimes.co.uk/newsl Lockdown switched profit growth into a higher gear — “companion animal” products, which account for just under three quarters of group turnover, boosted revenue by about a quarter last year — but further growth faces a challenge: the (quite likely) chance that the attractions of pet ownership during lockdown subsides. Zoetis, the market leader in America, has already flagged a slowdown in the rate of demand during the second half of the year. R&D spending is typically steady as a proportion of revenue at about 6.5 per cent. But selling and general operating expenses should return to 60 per cent to 70 per cent of pre-pandemic levels as sales reps get back on the road. Liberum forecasts about 80 basis points of margin erosion this year, against an underlying operating margin of 26.7 per cent last year. There’s also the threat of supply chain disruption. Products in short supply include antibiotics, primarily sourced from China and used in the manufacture of treatments. Dechra is holding more inventory in an attempt to stave off the threat of running out of stock. However, manifold risks aren’t reflected in the shares, which remain priced for perfection. ADVICE Avoid WHY Shares exposed to a sell-off if there are any hints of weakness in earnings. Ends (naturally, I don't agree! and am holding) .............. |
Posted at 14/12/2020 01:53 by davidosh Just to mention that the Xmas MelloMonday special guest may mention Dechra and I think shareholders and potential investors will appreciate his thoughts. There is an interview tonight with Keith Ashworth Lord who is a highly respected fund manager and well worth listening to. Keith's fund Castlefield are of course one of the larger shareholders in Dechra and I think it is one of their top ten positions.The Mello Monday event starts at 6pm The full programme is available on the website. Also of interest may be the MelloBASH... The analysts, fund manager and well known investors on the panel will give their honest verdicts on whether four companies are a Buy Avoid Sell or Hold at this current juncture in the markets. All investors welcome and if you use the code MMTADVFN50 you will get a half price ticket. Great investor content and entertainment. We had nearly 400 investors attend last month so these are very popular. |
Posted at 15/9/2019 12:44 by sarkasm MIDAS SHARE TIPS UPDATE: Drugs for pets firm Dechra Pharmaceuticals boomsBy Joanne Hart for The Mail on Sunday Published: 11:30 BST, 15 September 2019 | Updated: 11:30 BST, 15 September 2019 View comments Dogs have always played an important role in Korean life. Once, they were a feature on restaurant menus. Today, they are more often seen at the end of a lead. The shift is part of a broader trend across emerging markets, as pet ownership becomes something of a status symbol among aspiring consumers. The more people own cats and dogs, the more they spend on looking after them, to the benefit of Dechra Pharmaceuticals, which makes and sells drugs for pets and other animals. The more people own cats and dogs, the more they spend on looking after them, to the benefit of Dechra Pharmaceuticals, which makes and sells drugs for pets and other animals +1 Drugs business: The more people own cats and dogs, the more they spend on looking after them Midas originally recommended the stock in 2008, when it was £3.97. We recommended it again in 2015, by which time the price had surged to £9.85. Last Friday, the shares closed at £28.90, having almost tripled in the past four years alone. Looking ahead, long-standing chief executive Ian Page is optimistic and recent figures suggest he has good reason to be. RELATED ARTICLES Previous 1 Next MIDAS SHARE TIPS: Here's a VERY hot tip - Filta fryer... MIDAS SHARE TIPS: Want a rock solid shelter? This new... Share this article Share HOW THIS IS MONEY CAN HELP How to choose the best (and cheapest) DIY investing Isa - and our pick of the platforms Dechra Pharmaceuticals: Latest price and charts Annual results to June 30, released earlier this month, showed a 17.5 per cent increase in revenues to £482 million, a 27 per cent rise in underlying profits to £127 million and a 24 per cent hike in the dividend to 31.6p. The company’s performance is all the more impressive, as many peers have struggled recently, and Dechra itself has had to cope with increasingly stringent regulation and potential issues around a No Deal Brexit. Free investing guides The group’s resilience derives largely from a simple but effective strategy: listening to what vets need and creating products that satisfy those needs, particularly in specialist areas. Dechra’s best-selling drug, for example, is Vetoryl, used to treat dogs with Cushing’s disease, a hormonal disorder. Initially, Dechra operated only in the UK. Today, it sells to vets around the world. Just over 70 per cent of sales relate to pets, but the group generates strong growth from farm animal and horse products too. Dechra manufactures half the drugs that it sells and buys the rest from third-party producers. Over time, Page would like to make more drugs in-house and the company has a strong pipeline, including a diabetes treatment for cats and dogs that can be injected weekly instead of daily – a clear bonus for pets and their owners. Growth is also likely to come from more geographic expansion and well-chosen acquisitions, as Page has bought several businesses over the years and successfully integrated them into the business. Brokers forecast a continued increase in sales, profits and dividends next year and beyond. MIDAS VERDICT Dechra has come a long way since chief executive Ian Page took the helm in 2001, enjoying 17 years of consistent, double-digit earnings growth. Investors who bought in 2008 – and later in 2015 – have done well and may choose to bank some profits. But most analysts believe the stock could hit £33 in the next year or two so shareholders should retain most of their stock. |
Posted at 04/9/2018 20:40 by wetdream It shouldn’t happen to a vet supplierThe Times4 September 2018Miles Costello Tempus dechra pharmaceuticals STEVEN G SMITH/EYEEM/GETTY IMAGES Shares in Dechra lost more than a fifth of their value yesterday after the maker of veterinary drugs said that it had embarked on preparations for a no-deal Brexit. Dechra said that it would be setting up a laboratory inside the eurozone to ensure its products met European Union guidelines if Britain quit without a mutual agreement on testing and drug approvals. It said that the cost, at about £1.2 million, would be immaterial, but shareholders took fright at the potential fallout for Dechra once Britain is no longer a member of the bloc. The shares closed 668p lower, or 21.4 per cent, at £24.52. Dechra Pharmaceuticals suffered the sharpest ever one-day fall in its share price yesterday as investors took fright at an array of risks ranging from a hard Brexit to the changing face of the veterinary market. It’s hard not to conclude that the drop, of more than 20 per cent, was overdone. There are many moving parts at Dechra, a supplier of products to veterinary practices across Europe and North America, but none appear to merit a fall such as that. Dechra Pharmaceuticals traces its history back to 1819 when it was founded as Arnolds & Son, a business that made prosthetic limbs. Having moved into the veterinary market during the Crimean war, it has expanded through acquisitions and organic growth and now specialises in treatments such as vaccines and antibiotic sprays for pets, horses and “food-producin Dechra operates in a consolidating market. Veterinary practices are merging, mainly to create benefits of scale, at the fastest rate ever (especially in Britain). At the same time, suppliers, which it uses to get its products to vets, increasingly are concentrating on prioritising their discounted own-brand products. Distributors, particularly in North America, also are merging. Dechra has been happy to get involved in this M&A activity. In the past 12 months it’s bought Rxvet, a pet products business in New Zealand, AST Farma, which also makes treatments for dogs and cats and the like in the Netherlands, and Le Vet, which operates in non-Dutch markets in the European Union. Enlarged veterinary practices — and, indeed, bigger distributors — will have much more muscle in negotiating discounts for buying or selling on Dechra’s products in bulk. In practice, though, Dechra can live with this as it will be far cheaper to service a single big customer where before it may have been dealing with 25 or even 50 separate companies. Then there’s Brexit. Dechra told its investors yesterday that it was implementing a plan based on a nodeal departure from the EU next March, under which the bloc would refuse to recognise products tested and authorised in Britain. Dechra is setting up an EU-based company so that there will be no technical barrier to trade. In addition, it is setting up a laboratory in the bloc, equipped with staff who can test products to ensure that they conform with EU guidelines if it turns out that they are required separately. This is a headache, but will cost Dechra only £200,000 up front, plus a one-off expense of £1 million and additional operating costs of £800,000 a year — peanuts for a business with annual revenues of more than £400 million and a profit margin of 24.4 per cent. In short, none of this justifies the slump in its price; Dechra ended the day yesterday down 668p, or 21.4 per cent, at £24.52. Its annual numbers were strong. Taking into account the contribution from acquisitions, there was doubledigit growth in both profits and revenues over the 12 months to the end of June. The United States, where there were no deals last year, increased its revenues by a healthy 18.2 per cent and the profitability of the consolidated businesses in Europe improved sharply. Nevertheless Dechra shares are insanely highly rated, even after yesterday, trading on an earnings multiple of a whopping 71 times and with a dividend yield just shy of 1 per cent. The group is in good shape and seems well placed to adapt to its changing market; still, it’s as hard to justify buying the shares as it is to defend yesterday’s fall. |
Posted at 04/9/2018 10:57 by investopia hxxps://uk.webfg.comAlthough investors were unimpressed with Dechra's annual results and sent the shares galloping down, analysts at Jefferies liked the "impressive growth" in North America during the veterinary products manufacturer's last trading year. Jefferies, which reiterated its 'buy' rating and 2,726p target price on the FTSE 250 resident on Monday, pointed to growth of 21.1% globally and a better-than-expected 18.2% sales growth in North America. Analysts looked fondly on margins expanding "despite some headwinds from increased distributor consolidation and increased investments in sales force" and felt the outlook for 2019 "is positive and signals good progress from recent M&A". Dechra's North American sales increase was driven primarily by the US but also with strong growth in Canada, where all growth was organic. American operating profit margins remained flat at 32.5%, while sales of Amoxi-Clav, Vetivex and Zycortal were particularly strong despite its Carprofen range being hit by competition with distributors. In the EU growth of 11.4% came amid benefits from acquisitions as the group exited the contract manufacturing business through the year. Dechra performed ahead of the market in the majority of geographies. Market dynamics could see further consolidation of distributors, Dechra suggested, with a faster change of veterinary distributors and increased marketing of veterinary distributors' own generic products. While increased consolidation could see increased buying power of distributors, Jefferies felt Dechra's "high value, innovative portfolio means it is less exposed to these changes and there is value in increasing volumes through consolidated distributors". |
Posted at 03/9/2018 14:32 by steeplejack RBC summary taken from FT AlphavilleAgainst our expectations Dechra has reported a 2.9% miss at EPS (albeit in line with consensus) with the underlying EBIT margin not as high as we had hoped(3.7% miss at EBIT) and offset by lower interest costs. With revenues pre-reported at the trading statement there were no surprises by division at the top line(+8.3% underlying growth for the Group) but the Group gross margin was c.82bps light and then the NA Pharma business saw higher costs, which led to a9.0% miss against our divisional EBIT expectations (3.7% at the group level). Standing back, we must remember that FY18 has not been a bad year for Dechra,EBIT growth +21.9%, EPS +18.3% growth, but with this driven by acquisitions (organic EBIT was +9.7%) and, one could argue, priced in at current levels. Fromthe statement we understand that management have invested heavily in the US business, which delivered a strong top line (+18.2% growth), but this top linegrowth was slightly weaker than we had as management withdrew products in Mexico and the top-line growth may now slow as key products reach peak shareand risks grow.On the outlook, we would note from the risk section and highlights in the statement we have confirmed with management that there are a number of headwindswhich could lead to consensus downgrades of c.3-5% in FY19E EPS and 6-8% to FY20E EPS (perhaps in spite of a c3-4% currency tailwind at current rates).Whilst some of these are uncontrollable (Brexit and Iran sanctions with management acting accordingly), we see underlying/growing risks as well detailed in thestatement that are likely to add to the former. Whilst the fundamental appeal of Dechra hasn't changed materially, consensus downgrades on a name currentlytrading on c36x FY19E EPS and an EV of 21.6x EBITDA (assuming downgrades come through) and 1.9x levered at end-FY18 will be tough to swallow forsome. We had been concerned that the shares were overheating and that investors were not factoring in potential risks (customer consolidation and distributorcopycat/g |
Posted at 03/9/2018 10:50 by steeplejack (Sharecast News) - Veterinary pharmaceutical business Dechra Pharmaceuticals issued a solid set of preliminary results on Monday, but this was enough to satisfy investors as the shares were sent tumbling. The FTSE 250 firm reported revenue growth of 13.9% to £407.1m for the year ended 30 June, with underlying operating profit growing 24.0% to £99.2m as underlying EBIT margins expanded 200 basis points to 24.4%.Underlying diluted earnings per share were ahead 20.9% to 76.45p.The Dechra board declared a full-year dividend of 25.5p.On the operational front, Dechra highlighted the acquisition of AST Farma and Le Vet in the Netherlands and the European Union, and RxVet in New Zealand.It said it outperformed in the majority of its countries and therapeutic sectors, while making "several" new global product registrations, with new opportunities secured."Dechra has delivered another successful year from both a financial and strategic perspective," said chief executive officer Ian Page.Dechra shares, having scampered up more than five-fold in the last six years, fell 15% to 2,650p, taking them back to where they were around six months ago.It was a "mixed update" said Russ Mould, investment director at broker AJ Bell, that showed "the dangers of a high valuation colliding with less than positive news" after a the strong dynamics behind the animal drug market helped underpin a multi-year advance in its shares."On the face of it, Dechra's full year results still look good with underlying profit, excluding the impact of accounting adjustments on some acquisitions, up more than 20%," he said."What may be concerning the market are references to contingency plans for a 'hard Brexit' and the fact an increasing number of distributors are focusing on the sale and marketing of their own products. These factors could prevent the company churning out the same stellar numbers as it has done historically." |
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