Share Name Share Symbol Market Type Share ISIN Share Description
Ekf Diagnostics Holdings Plc LSE:EKF London Ordinary Share GB0031509804 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.50 0.77% 65.50 244,075 16:35:24
Bid Price Offer Price High Price Low Price Open Price
65.00 65.50 65.50 64.00 65.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 44.92 5.52 0.81 80.9 298
Last Trade Time Trade Type Trade Size Trade Price Currency
17:11:05 O 30,966 64.814 GBX

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Ekf Diagnostics (EKF) Discussions and Chat

Ekf Diagnostics (EKF) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-12-01 17:12:3264.8130,96620,070.30O
2020-12-01 17:11:0765.504126.86O
2020-12-01 16:50:3965.5019,58912,830.80O
2020-12-01 16:35:2465.50165108.08UT
2020-12-01 16:29:5665.003824.70AT
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Ekf Diagnostics (EKF) Top Chat Posts

Ekf Diagnostics Daily Update: Ekf Diagnostics Holdings Plc is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker EKF. The last closing price for Ekf Diagnostics was 65p.
Ekf Diagnostics Holdings Plc has a 4 week average price of 58p and a 12 week average price of 53p.
The 1 year high share price is 80.50p while the 1 year low share price is currently 16.93p.
There are currently 454,993,227 shares in issue and the average daily traded volume is 675,709 shares. The market capitalisation of Ekf Diagnostics Holdings Plc is £298,020,563.69.
james188: The FDA EUA announcement today is clearly positive news, but we do not know how much of the product that Bio-Techne manufactures is going to be allocated to the UK/European markets and so available for marketing and distribution (and so revenue generation) by EKF. We also do not know the commercial deal under the agreement between EKF and Kantaro. My assumption is that most of the kits now being produced will be targeted at the US market. As far as I am aware, Bio-Techne are the sole manufacturer of the test kits. If the Kantaro/EKF marketing and distribution agreement generates material revenues for EKF, it will issue an RNS, sooner or later. So, I can see why the Renalytix share price spiked today (after being subdued), but also why it had no immediate impact on the EKF share price, given its relatively small holding in Renalytix. Some of the other developments hold more immediate promise, in my view, PrimeStore products being an obvious example.
wan: Adding to my post above, obviously Chris Mills thinks EV/EBITDA multiples are particularly relevant/useful (he quoted the multiples achieved in a recent exit). obviously I subtracted £30m of cash, which one assumes could be used for capital investment (not to mention there's not much by way of long term debt). I assume by the following that private Equity also use EV/EBITDA - Coronavirus boosts M&A activity in the healthtech sector, says Hampleton Partners 08/10/2020 The first Healthtech M&A market report to be published by Hampleton Partners since the outbreak of Covid-19 stresses the serious impact of coronavirus on healthcare systems around the world. Healthtech valuations have been high for the best part of the past five years. In the first half of 2020, the trailing 30-month median EV/S multiple dipped slightly to 3x following a 4x peak in 2H2019. Despite previous volatility, EBITDA multiples are still very high, coming in at 17.7x in the first half of 2020. This growth has been driven particularly by high valuations in the Healthcare Vertical Software segment which saw 88 deals closed in the first half of the year – a 20 per cent increase on the last reporting period. hTTps:// Food for thought...I am not suggesting we should use a multiple of 17.7 (at this stage), but that would equate to a share price of circa 95p. Tone it down for example to what Chris Mills suggested was a moderate multiple of 15 and that would give a share price of circa 80P, which is close to where we were before the pullback. Ultimately though, no doubt reliant upon what EKF says next!
wan: Has anyone had any thoughts regarding EKF's forecast adjusted EBITDA of £23m (Welshborderer posted that N+1 Singer upgrade their FY20 EBITDA forecasts by a further 6% to £24.4m) and what the average EV/EBITDA multiples are in healthcare/diagnostics etc? By my quick calculations EKF are currently sitting on an undemanding EV/EBITDA multiple of circa 11 (if I use £23m) and circa 10 (if I use 24.4m). Neither of which includes anything for Trellus Health (digital-health/telehealth is a hot sector and I subtracted cash of circa £30m). Perhaps that's why the CEO thought the degree of pullback was ludicrous? Chris Mills stated in the recent interview (as well as mentioning EKF had cash of around £30m) that Source Bio (SBI) was easily worth a multiple of 15. (I have seen examples of lower and particularly higher multiples). I note SBI's share price is significantly up from its IPO price (and up notably post the interview), does anyone know what's the current EV/EBITDA multiple for Source Bio? Others comments/analysis would be most welcomed.
wan: I think that we all agree that Chris Mills has far greater and deeper insights into EKF than what we can muster on here (but we are not too far away from the mark in gaining a deeper insight/understanding regarding what's on offer now and going forwards!). What I found particularly interesting from the Chris Mills interview was his remark that eventually they would have to sell some EKF as it would represent too big a percentage of the portfolio "but it sure ain't at this price". Implying (despite some thinking/suggesting EKF have run out of steam) that there is much more to come in terms growth and share price appreciation.
james188: It looks highly likely that we can expect further positive news as to further COVID-19 vaccines in the next few months and weeks (not just AZ/Oxford University), which is excellent news for planet earth. It continues to be obvious that testing - in various forms - will be necessary for a long time, however quickly the immunisation programme starts in earnest. If you are not following a day trading strategy, then the very volatile share price for EKF really does not matter. This is a much longer play and an effective series of vaccines will mean that some of the other core business divisions for EKF will recover from the hit that they have taken this year. We have no reliable numbers as to the number of PrimeStore MTM/ATM sales that EKF is making (I suspect pretty impressive, but that is a guess), but my focus is on the other business divisions and how they progress. That is the base business case for investing in EKF. I am still adding.
wan: It would appear that post the recent vaccine news, EKF's share price performance is indicating that the market remains sceptical regarding the level and duration of sample collection requirements associated to coronavirus testing. But fortunately, most investors realise that COVID-19 testing alone is not the only investment rationale. Staying with testing though, and given that the second wave of the pandemic is accelerating in many countries, along with alignment of entering the winter/flu season, the outlook for testing volumes will almost certainly result in a dramatic increase in volumes, especially as governments unleash numerous mass-population testing programmes, which will include using a wide spectrum of test types. (I won't list them all, as even the UK gov is apparently buying inferior tests, hence a rising tide is lifting all boats!). EKF now has exposure to all testing regimes, PCR testing via sample collect and antigen testing via sample collection/consumables, and antibody testing via a new exclusive/non-exclusive quantitative antibody ELISA test. Antibody testing has yet to attract strong levels of interest, but apparently it will be important in the next phase of resolving the pandemic. Interest in antibody testing looks set to change and possibly quite rapidly, as perhaps noted by Thermo Fisher recently securing a large UK vaccine contract for 'quantitative' antibody testing (which surprised me as it is described by the FDA as qualitative!) - hTTps:// Clearly, Longhorn/EKF's current sample collection media compliments testing, as opposed to being a product uniquely critical to testing, otherwise we would have likely seen a share price with a double figure £ sign in front of it! However, the substantial orders to date demonstrate that the attributes of the PrimeStore products are important to certain tests and certain operators, but not all, or a high percentage of them (at least not yet)! As and when the emergency situation/pandemic abates, there will be a lot less choice in terms sample collection options, hence the CEO's comments on such, which implies that management also see testing enduring for longer than the market currently thinks. Such a situation might provide for a perhaps somewhat underappreciated, second strong wind to EKF's sails. Time will tell. In the meantime, I remain very interested in what can only be described as an explosion in antigen testing across the globe, but from which we are yet to see any tangible benefit. On initial digestion of Julians comment, that a bit of ATM has been sold in the US and its intended as a lower cost product in specific regions across the globe where the economics can play a key part, one might be tempted to temper one's analysis as to what degree of effect EKF might receive from ATM. However, amongst a number of other things, I remain particularly interested in how the new PrimeStore ATM product fits in with antigen testing, and not just for low-cost markets. With antigen tests being far cheaper than PCR testing, then arguably antigen testing is the best solution for low-cost markets. With other benefits such as no special equipment being required, less/no skilled operator requirements and easier distribution making antigen testing equally attractive, if not essential in specific regions across the globe, but for which still very large volumes will be required to facilitate frequent testing. Apparently PrimeStore ATM also enables extraction-less PCR testing, which of course would help in keeping costs down, but if the skill base and diagnostic infrastructure is lacking (very likely in such regions), it would not be of much benefit. So, in my view, low-cost must surely equate to lateral flow antigen testing. And I am sure none of us would complain if EKF decide to forego the usual level of margin for supplying those markets (which might actually make EKF even more attractive to certain investors). Food for thought - With developed markets also just embarking on a dramatic growth trajectory in terms of antigen testing volumes (and with PCR testing remaining an important requirement), one has to ask why, or what was it that prompted Longhorns President to suggest that their ingredients can enable certain rapid/POC tests, and why their CSO suggested that the new ATM product was surely set to be a block-buster, and which fits well with the growth trajectory in antigen testing currently underway? But with Jillian tempering things in this regard, do we tone down any expectation that ATM (at the very least) will be another MTM in terms of providing growth, or are we already seeing that tempering in the share price action? In my view, MTM has a lot more to give in terms of the current volumes and duration, with the jury currently being out regarding ATM! Further food for thought, especially given the attributes of PrimeStore MTM enabling efficient, safe testing e.g. no cold chain storage nor controlled environment/protocols, which may further focus minds and choices in the US at least, where unfortunately cases, and subsequently testing volumes are soaring - Labs face COVID-19 surges, warn of test result delays as CMS pay cuts loom PUBLISHED Nov. 13, 2020 Dive Brief: U.S. COVID-19 cases are reaching all-time highs this week and test volumes are nearing records, placing new pressures on diagnostics infrastructure, according to the American Clinical Laboratory Association. "The surge in demand for testing will mean that some members could reach or exceed their current testing capacities in the coming days," ACLA President Julie Khani laid out in a statement Thursday. "In cases where the number of specimens received exceeds an individual laboratory’s testing capacity, there could be an increase in their average time to deliver results." That warning comes a month and a half out from when CMS plans to begin reducing COVID-19 test payment to labs by 25% if they take longer than two days to return results. With the U.S. now facing a staggering acceleration of confirmed cases, those times may be poised to go back up. Increased turnaround times could spell trouble for labs if they persist. CMS announced Oct. 15 it would reduce its COVID-19 test pay by 25% in cases when a lab takes longer than two days to deliver results, effective Jan. 1. Full story - hTTps:// Reduced testing, the same level of testing, or even more testing as the virus mutates - PUBLISHED Nov. 13, 2020 Dive Brief: Quidel CEO Doug Bryant made a case to investors Thursday that an effective COVID-19 vaccine, when widely available, would not lead to reduced testing demand, arguing the need for the company's tests will persis as the coronavirus mutates. Full story - hTTps://
james188: Another company that I invest in had an agreed takeover bid this morning,so I liquidated my holdings and reinvested in EKF. For once, the share price actually rose after I invested. Generally, I believe in EMT, but AIM stocks are typically under researched and often highly illiquid. That means that the share prices are often volatile and there are commensurate investment opportunities. EKF is still relatively under the radar, but it is getting noticed. For example, I see that David Evans is launching a new fund to invest in diagnostic stocks. He is a former chairman of EKF. I think that it is a reasonable assumption that EKF will be one of the stocks that the fund invests in - assuming that it launches.
mginvestor: From the SourceBio Admission Document the related party transactions part mentions EKF: Distribution Agreement between Source BioScience UK Limited and EKF Diagnostics Holdings plc Christopher Mills, a non-executive director of SourceBio is a director of EKF Diagnostics Holdings plc (EKF). On 1 May 2020, Source BioScience UK Limited (“SBUL”) entered into a distribution agreement with EKF under which EKF manufactures PrimeStore MTM tubes (the “Products̶1;), used for the provision of COVID-19 testing services, and supplies them to SBUL. Title to the Products does not pass to SBUL until EKF has received payment in full in cleared funds. Once settled, SBUL may then sell the Products in certain exclusive territories, namely England, Wales, Scotland, Jersey, Guernsey and any such other countries as mutually agreed between the parties. The agreement commenced on 28 April 2020 for a duration of one year, after which it will automatically renew on an annual basis for a period of one year at a time. The agreement shall come to an end if a termination event occurs, in accordance with the agreement, or if one party gives the other 60 days’ written notice of its intention to terminate the agreement. The agreement grants SBUL the right to use a number of EKF’s trademarks and also contains various undertakings, warranties and indemnities given by each party to the other. SBUL is prohibited from selling or manufacturing products which directly or indirectly compete with EKF, save with EKF’s consent. The agreement refers to volumes being agreed between the parties in writing from time to time. The Company has confirmed no minimum volume commitments are currently in place.
wan: Not exactly, but it does if you are an EKF shareholder that kept their Renalytix in specie shares distributed by EKF (as I did and added further to), and perhaps demonstrates to new EKF shareholders the 'other' value and opportunities that can be realised from the EKF and Mount Sinai relationship. Next up in this regard is Trellus Health - Strategic investment As previously announced, EKF and Mount Sinai Innovations Partners entered into a relationship to identify technologies to advance a novel digital health platform for early intervention and better care management for patients with IBD, resulting in the formation of and investment into Trellus Health. The financing was led by EKF in partnership with Mount Sinai Health System (“MSHS”). EKF believes that the Trellus Health digital health platform will provide substantial value for patients and providers, and has the potential to provide attractive returns to shareholders. It is the Trellus Health investors’ intention, in the future, to conduct initial market soundings to determine the feasibility and timing of an initial public offering (IPO), and the potential admission to trading on the AIM Market of the London Stock Exchange (AIM) for Trellus Health. If an IPO was to take place the expectation would be for this to take place in early 2021. EKF expects to distribute its holding in Trellus Health to its shareholders by way of a distribution in specie as soon as is practicable. Further announcements will be made, as appropriate. Full release - hTTps://
speedsgh: I'm guessing the spike up at 12.00 is due to Simon Thompson's article on the IC website today. Amongst other things he updates on his buy recommendation for CIP Merchant Capital (AIM:CIP) whose objective is to generate returns for its shareholders through investment in listed equity and other financial products and instruments using a private equity approach. Within the piece on CIP is a specific mention of EKF in which CIP recently made a £1.1m investment. A welcome piece of publicity which should bring EKF to the attention of a much wider investment audience. HTTPS:// "...This means you are getting a free ride on seven other holdings that have a combined valuation of £13.6m (25p a share). The latest addition to the [CIP] portfolio being a £1.1m investment inEKF Diagnostics (EKF), a £289m market capitalisation point-of-care business. EKF has achieved meaningful growth thanks to its capability to manufacture and deliver novel Coronavirus testing equipment across the globe. Given that its production facilities are also located in the UK, US and Germany, CIP’s investment managers believe that EKF represents a valuable hedge against the downturn risk of the wider market should the Covid-19 pandemic accelerate, or a vaccine be available later than the market expects. EKF is rated on a 2020 forward price/earnings (PE) ratio of 18 based on Panmure Gordon’s expectation of its earnings per share rising 154 per cent this year. The shares have risen by 15 per cent since the start of last month, so CIP is already well into profit."
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