Share Name Share Symbol Market Type Share ISIN Share Description
Eco Animal Health Group Plc LSE:EAH London Ordinary Share GB0032036807 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 117.50 12,689 14:58:52
Bid Price Offer Price High Price Low Price Open Price
115.00 120.00 120.00 117.50 117.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 105.61 20.28 12.08 9.7 79
Last Trade Time Trade Type Trade Size Trade Price Currency
15:25:15 O 3,000 116.365 GBX

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Date Time Title Posts
24/6/202221:28Eco Animal Health Group: Early dewormer gets OK1,366

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Trade Time Trade Price Trade Size Trade Value Trade Type
2022-06-24 14:25:17116.373,0003,490.95O
2022-06-24 13:58:31117.005,2036,087.52O
2022-06-24 13:34:16120.001,0841,300.80O
2022-06-24 13:05:15120.00165198.00O
2022-06-24 10:59:57117.00500585.00O
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Eco Animal Health (EAH) Top Chat Posts

Eco Animal Health Daily Update: Eco Animal Health Group Plc is listed in the Pharmaceuticals & Biotechnology sector of the London Stock Exchange with ticker EAH. The last closing price for Eco Animal Health was 117.50p.
Eco Animal Health Group Plc has a 4 week average price of 117p and a 12 week average price of 116p.
The 1 year high share price is 370p while the 1 year low share price is currently 116p.
There are currently 67,517,126 shares in issue and the average daily traded volume is 21,780 shares. The market capitalisation of Eco Animal Health Group Plc is £79,332,623.05.
cerrito: Article in the FT the other day on the role of increase in pork prices in the general inflation situation in China. Commented that profits of hog producersike Muyuan being squeezed given increase in price of animal feed . It also said the share price of Muyuan suffering but actually only down 1.5pc YTD. Anyway suggests to me that there continue to be headwinds for EAH despite increase in pig prices.
edmonda: Encouraging expansion of vaccine R&D pipeline (new research note from Equity Development) ECO Animal Health has undertaken what represents a potentially important expansion of its R&D pipeline via a collaboration to develop veterinary vaccines against three porcine infectious disease targets using a novel self-amplifying RNA (saRNA) technology developed by Professor Robin Shattock of Imperial College London. The collaboration will assess saRNA-based veterinary vaccines against two viral and one bacterial infection in ECO’s validated swine disease models with a view to selecting candidates for development and commercialisation under license from Imperial College. The company is due to report its financial results for the year to March 2022 next month, with consensus suggesting sales of c. £81.5m and adjusted EBITDA of £6-7m. Both will be lower than exceptional levels seen in 2021. Current ECO’s enterprise value is £64m (based on forecast cash of c £18m) suggesting an EV/sales ratio of 0.8 and EV/EBITDA of ~9-10, both of which are well below norms in the animal health sector (peer group EV/sales 2.5-3.0x). ECO resumed payment of a dividend in 2021, at 1p/share, that if repeated, would offer a yield of 0.8%. Link to note:
cerrito: The share price is 120p The cable is US1.20 This must be a bargain for a dollar based investor
cerrito: Given current pig prices in China down at 12.8 RMB a kilo and lockdowns not only in Shanghai but in key agricultural areas, I can well understand why the price is where it is. I also see there is herd contraction of pigs in North America. I have to say that I do not see clearly what effect the very high feed prices that pig farmers work wide are paying will have on Aivlosin sales. My gut, which may be wrong, tells me it is negative. I do not see myself buying or selling in the foreseeable future.
cerrito: I agree a very sloppily worded RNS and you would have thought with three joint brokers not to mention a PR agency and ED they would have done a better job. We are told about revised expectations in para 2…not clear who revised them when as no mention of revisions in the January 12th TU when they said this year’s revenue will be in line with then current market expectations. Very disappointing that they do not tell us their understanding of consensus estimates for the current FY. FWIW I see that Singers-one of the three joint brokers- have out a note today with a buy at 253p just below the previous TP of 264p. They have this year’s adjusted EBITDA at £7.1m compared to that of 20/21 of £22.2m and have left unchanged their forecasts for the next two years. Singers comment that they had estimated total R&D expenses in this FY of £8.4m and now management guidance is £10.2m. Difficult to know if Singers got hold of the wrong end of the stick or EAH have no grip. What happens to the share price depends on the amount of patience that their larger holders have. To remind myself of their shareholder structure I went onto the web site and found that there has been no update since September 31. Since then of course we have said goodbye for all intents and purposes to Amati and hello to SFM with their 11.39% holding. Seems rather lackadaisical. The magnitude of the share price drop, the -for EAH- very large volume today of almost 1.2m shares suggests that some have decided not to hang around. With the current share price, the cable at $1.30 and an apparent lack of management grip, this must be a takeover target,,,although I do not understand the industry enough to know who it could be.
cerrito: I see the share price continues unloved as of course do those of many companies of a similar size. Apart from March 1 when 300K+ shares traded there has not been much trading activity in the last month. I fear that the big increase in food input prices that pig farmers around the world will face may reduce their propensity to buy EAH products, but I will be the first to admit that I do not see it clearly. I see that Xi has been banging the drum for self sufficiency, saying Chinese bowls filled mainly with Chinese food, which on a macro level is good for EAH.
aimingupward2: Well, it has prompted some buying and a bit of a move up in the share price, Cerrito.
cerrito: A good if not very good presentation today on Equity Development and good that unlike IMC they were no time pressures and all questions answered. Well worth a listen. That said nothing there that will move the share price in the short term. 2 questions I should have asked. The first is that I got a sense that given the investments in R&D they are not likely to be paying dividends of note and I should have checked that. The second was that we were told the best way to get a feel for the economic health of the Chinese pork market one should look not at the price of pork but rather the price of piglets and I should have asked where you get this info from. It could be argued that given the current share price and the £/$ tnat if the pipeline is as promising as they say why are they not being bought out.
1aconic: Hi Cerrito - he didn't directly say it wiped it out but the figures he gave suggested it. He said that dividends have a 5% withholding tax but the royalty tax rate equates to 41% Therefore, he implied that for every £1 repatriated as dividends (split 51:49) EAH would get 48.5p and the JV about 46.5p (assuming local dividend taxes are about the same as the withholding tax) but for each £1 repatriated with a Royalty payment EAH get 59p and the JV partner (Huge Leaf?) zero. Therefore, seemingly EAH doesn't gain a whole lot for penalising HugeLeaf massively. The bit on that I wasn't clear on (and that would change the maths entirely) was whether the 41% for royalties included the 25% headline tax rate or not (the 5% on divis seemingly does)... However, according to my notes he did say that going forward divis would be the method of choice. I was disappointed by that at the time because obviously a fairer share of the JV profits could be absolutely massive for EAH's own bottom line. That's why I was surprised when the RNS mentioned a royalty payment. Maybe it was just a one off or perhaps since the H1 call they've found a less tax punative way to do it.
1aconic: From recollection, I think the share ownership targets are new - perhaps even as recently as last year when Wilkes purchased. I was surprised Marc Coombes bought this time round as he's no real need to fulfill that given he's leaving - although at the current share price it does seem a bit daft not to, despite the remaining underlying areas of concern here. I'd trimmed about half my holding in the upper 300s but have been adding back since the pull back. Echo your irritation with vague references to market expectations Cerrito. Didn't really understand the royalties section of the RNS - in the report last year they said they were looking at royalties as an option due to the unfair split of profits with the the Chinese JV however on the latest webcast they went to great lengths to explain how the tax penalties are significant and it wasn't a good option! From my understanding of what he said, the upshot was that if EAH took royalties the extra they'd receive (compared to paying dividends and splitting profits equally) would largely be swallowed up in Chinese taxes and there was little point to it. Anyone got any further insight there? Looking forward to the CMD and getting a deeper insight into the research programmes. Past communications in that regard haven't been the greatest.
Eco Animal Health share price data is direct from the London Stock Exchange
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