Share Name Share Symbol Market Type Share ISIN Share Description
Omega Diagnostics Group Plc LSE:ODX London Ordinary Share GB00B1VCP282 ORD 4P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.50 -0.64% 77.50 2,806,011 14:32:41
Bid Price Offer Price High Price Low Price Open Price
76.00 79.00 83.00 74.00 78.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 9.76 1.18 0.80 96.9 138
Last Trade Time Trade Type Trade Size Trade Price Currency
14:59:45 O 3,912 76.85 GBX

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Date Time Title Posts
25/9/202013:54Omega Diagnostics - nicely poised for significant growth11,599
25/9/202012:18Omega Diagnostics275
22/9/202021:56CV and the Deep State7
22/9/202000:00Bullshit Free Zone9
08/9/202008:17Omega Diagnostics1,799

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Omega Diagnostics Daily Update: Omega Diagnostics Group Plc is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker ODX. The last closing price for Omega Diagnostics was 78p.
Omega Diagnostics Group Plc has a 4 week average price of 53.50p and a 12 week average price of 32.50p.
The 1 year high share price is 94p while the 1 year low share price is currently 6.75p.
There are currently 178,678,110 shares in issue and the average daily traded volume is 4,815,613 shares. The market capitalisation of Omega Diagnostics Group Plc is £139,368,925.80.
craig bulb: Not sure share price fall probably due to no news and people taking big profits as share price so high
morethanme: One of the reasons ODX is so undervalued IMO is because of its high ownership by II prior to the UK-RTC formation at cerca 52.7%. Whenever we have had big news these II have sold into the rises and the increase in share price has been muted as a result, I am not complaining as if it wasn't for them I wouldn't have had such an attractive buy in price. But as a result, we haven't seen as larger increases in share price compared to some of our fellow Covid stocks. If we assume L&G are at 2% now, we have gone from 52.7% to 14.75% II reported holdings, with David Evans accounting for 3.76% and Sneller with 8.99%. David Evans is the ex-chairman, so I don't think he will sell his stake, which only leaves Sneller. We are running out of II's to sell into the rises and when we do, we will rise up unrestricted and finnaly an mcap that better represents the value on offer in Omega. I holdings are much easier to visualise graphically, so I have added a link below showing graphs I have made displaying the II holding percentages over the last 3 years.
barrywhit: rivaldo, Thought it was worth every "Investor" reading the Abingdon news release as it is very comprehensive as against Colin's paragraph in the RNS. But this underpins the existing share price in my opinion, not concerned where the share price ends up today, short to medium term this is a great holding...
bomber13: Subject to the rubber stamping of a general meeting tomorrow , Omega has successfully raised £11m at 40p per share , and its issued capital will now be 178.2m shares , which at the current share price of 37p gives a market cap of £66m . Therefore , at the commencement of a hockey stick shaped uplift in sales , both from its 5 COVID 19 initiatives , and , most importantly , its 2 core businesses , Visitect and Food Intolerance , the company will be totally debt free . As a result of the fundraising , whether testing for antigens or antibodies , Omega’s capacity for ELISA based COVID 19 tests will go from 275/- tests per week to 1m tests per week , and its capacity for point of care lateral flow based tests will go from 100/- tests per week to 1m tests per week . Within this latter figure sits the 200/- tests per week Omega expects to be manufacturing for the HMG sponsored Rapid Test Consortium , who have just achieved design freeze of their gold standard test . Subject to imminent approvals , Visitect CD4 sales are expected to grow from a near standing start to 4m - 5m tests pa at US$4 per test and 70% gross margin within 3 - 5 years , whilst , in Food Intolerance , sales to China are expected to grow from a near standing start to US$15.5m by 2023 at 70% gross margin . The 19 minute presentation published at the time of the fundraising bears witness to how concentrated the news flow will be for the rest of this year , which I sum up below - 1) COVID 19 Antibody Tests - Mologic’s ELISA based test is already CE Marked , for sale , and being evaluated by up to 15 countries , of which India has now approved it . Mologic’s primary care focussed lateral flow test is expecting CE Marking in August with first sales in September . The HMG sponsored RTC lateral flow antibody test is awaiting PHE approval , and Omega is expecting to ship 200/- tests per week by end September . 2) COVID 19 Antigen Tests - Mologic’s ELISA based test is expected to finish development in August , achieve CE Marking in September , and first sales in October . Mologic’s lateral flow antigen test is expected to finish development in October , achieve CE Marking in November , and first sales in December . 3) Visitect CD4 - Unitaid / CHAI followed by Global Fund and PEPFAR will deploy Visitect into 4/5 countries in the Summer months . MSF , after lengthy due diligence , will deploy Visitect into various of their field sites in late Summer . Sales of Visitect to the big NGO’s await full WHO approval , which is expected in late Summer . 4) Food Intolerance in China - Self-test approval is expected in late Summer , and Omega is confident of selling 1m tests there by 2023 at US$15.5 per test , which gives a turnover aspiration of US$15.5m for China alone , comfortably more than last year’s total group Food Intolerance revenue of £9.2m . As per the above , the next 5 months promise to provide a tidal wave of news flow , which should massively underpin the share price , provide a steeply rising order book and sales , and give increasing visibility to Omega’s earnings forecasts . Its broker , Finncap , has yet to publish forecasts beyond the current year to March , 2021 , and its target price is still under review . Based on Finncap's recent SOTP calculations , it is nevertheless extremely encouraging that Omega’s current £66m market cap is covered by their valuation of Visitect alone , which they valued between £45m and £70m . Indeed , if you add in their valuation of Food Intolerance including China , which is £90m to £120m , the two core businesses are reckoned to be worth £135m to £190m or 76p to 106p per share before acknowledging anything for the COVID 19 initiatives . On these , Finncap has put a value of £75m to £110m or 42p to 62p per share . Given Finncap’s view of what Omega might be worth , it is going to be no surprise to see their target price rise really quite substantially from the previous one of 25p .
raskal: I am the Norti Raskal King of the Castle and saith thus:- I Norti have convened a coven to call on the goddess of the earth Hecate to determine the future of ODX. The pestilence from the land of Xi will continue and new swine fevers will be sent by emperor Xi to destroy. ODX will prosper but slowly. The animated cadaver raised by my necromancy warns that a low share price could lead to a lightening strike of a bid. From a major pharma / healthcare business. The cadaver spoke of Inverness.... assembling a portfolio the corpse mumbled Fisher price or something about oilers. Very strange and confusing. I am the Norti Raskal lord master and autocrat of the fifth and Sixth quadrants of the planets king of the castle heed the mystery of the share price.
steeplejack: The greater part of the placing has been done with institutions.It was well oversubscribed.The open offer to private client qualifying shareholders is a secondary sideshow.Institutions can be expected to support the price if the shares come on offer at 40p. Personally,I regret buying this stock having successfully traded Novacyt and BVC.The impromptu intervention by Colin King to explain that the price rise was unfounded,the heavily discounted placing (as if to reaffirm that the share price was inflated) and the strange timing of the placing,being made just days before details of the design freeze.These factors make me feel that Omega has a very small company mentality.However,there are clearly real opportunities for Omega to exploit and it might come out as a clear cut winner to the extent that the multi bagging of the share price in recent months is justified.
linda6235: So we buy 40p share price of shares we already own at 45p! So 85p per new share price! Is that not overpriced.. if we don't buy the extra our existing shares come down by 15%.. is this correct? New to this deal!,,
nxc: There is a road still to travel - today was a bump in the road for the Share Price but not the business. There are a number of factors to reflect on; 1. Whilst there has been a sea change in sentiment there has not been a sea change in the fundamentals. Covid19 has not disappeared and it is a pandemic with an ongoing need for testing for both antigens and antibodies throughout the world. 2. ODX has in its portfolio both antigen and antibody tests in both Elisa and POC formats - think of it as a conveyor belt of tests effectively going through a process of transfer to manufacturing and scale up - the first test being an Elisa antibody test via Mologic that is now being sold through ODX's global distribution network - the next tests will likely be the POC antibody tests and next the antigen tests. 3. ODX has successfully raised funds to ensure scale up of Elisa test manufacture to 1 million tests per week and for lateral flow tests up to 1.5 million tests per week. Some people have hung their hats on the RTC opportunity - the reality is that this is but one piece of the pie. ODX's success is not wholly dependent on what the UK Government does and in that respect the BOD/CEO are to be congratulated on having a number of different routes to success by taking a holistic and global approach to the Covid19 situation. 4. Today's current market capitalisation can broadly be split two-thirds to the existing business one third to Covid - i know that some will argue differently but i have a reasonable insight as to the value of both CD4 and the Food Intolerance Business. So roughly £24m is currently being ascribed to Covid19 - is that a fair reflection of the value of the combined Covid portfolio ? I think not but time and sales will tell. 5. The Share Register is in a period of transition and there will be some who have sold down some of their placing shares and the market has had to absorb the effective divestiture of a significant proportion of the gifted shares of the largest Shareholder - both have a drag effect on the share price as does sentiment and sky related RNS's. This turbulence will continue in the short term but as I said earlier Covid19 has not disappeared - ask the people of Leicester for a start - the necessity for testing has never been greater. We are set fair.
bomber13: Colin King , our CEO , has 2.15m options , 1.2m of which can be exercised @ 13p providing the share price has had a daily close of 50p or higher , and 950/- of which can be exercised @ 15.4p providing the share price has had a daily close of 30p or higher after the 2nd anniversary of the grant , i.e. 24th January , 2022 . He deserves every incentive possible in my view . He has had to close the German operation , he has had to close Pune in India , and he has had to sell pretty much all of " Infectious Diseases " except Visitect . He has used his contacts in China to get Food Intolerance into a position of transformational growth in that country . He has got Visitect's 2 products CE Marked , ERPD approved , and within a whisker of WHO approval . He has galvinised the Allergy division towards a hockey stick uplift to sales within 2 years . And now he has positioned Omega into two antibody tests for COVID 19 , a point of care " at home " test , and a laboratory ELISA based test . Omega is the only quoted member of both COVID 19 affiliations , and , as a result , has a unique attraction to the market's animal spirits . If indeed , next week , we do see validation of the Mail on Sunday's claim of 50m " at home " point of care tests being ordered by HMG at £10 a pop , and PHE / NHS Scotland's validation of Mologic's laboratory ELISA test , then we can confidently expect animal spirits to go wild about Omega . For argument's sake , let us assume Omega's share price achieves 50p or more . Taking the fully diluted share capital , which is appropriate right now because all share options are " in the money " ( there are 13.6m unexercised options ) , the market cap would be £82m @ 50p ( 164m X 50p ) . The core business of Omega is reckoned to be worth £38m ( 23p per share ) by their brokers , Finncap , and , given the growth prospects of allergies , food intolerance , and Visitect , I think that is a very fair valuation . Which means , at 50p per Omega share , COVID 19 involvement would be worth 27p per share or £44m . Whether Omega's COVID 19 involvement is worth £44m or a good deal more , I'll leave for someone else to decide , but , as a die hard long term holder ( 10 years plus ) , I will be selling some above 50p .
bomber13: Unless my arithmetic is wrong , a quite astonishing 60% of Omega has changed hands in the last 5 trading days , and , of this 60% , we only know that 4.4% is accounted for by Octopus's sale , and at least 1.9% , up to a possible 7.65% ( to be announced shortly ? ) , by Oryx's sale . That still leaves one heck of a lot of stock to be accounted for just by PI's ? It is even more extraordinary to think that in just 3 weeks the share price has gone from a 10 year low to a 10 year high . Whilst animal spirits have played their part , and will leave the share price vulnerable in the short term to delay , uncertainty and impatience , there is no doubt that the last 3 weeks have finally put Omega on the world map . Remember that Finncap , the house broker , had a fair value and target share price of 25p before the COVID 19 consortium was announced on 9th April , and that is an easily justifiable figure . Omega's Food Intolerance business has been churning out 30% plus operating margins for years now , but its value has been ignored by the market because the cash that it has generated has been gobbled up by Omega's other 2 divisions , Allergies and Visitect , both of which are only now on the cusp of of showing properly positive ROI's . Food Intolerance has current annual sales of £8m for an EBITDA of around £3m , and this is before any account is taken of China , where Omega is about to launch , and where the CEO has gone on record in saying he expects US$6.5m of sales from China within 18 months of approval . What might someone pay for the Food Intolerance division with its excellent market positions , its high margins , and its tiptop growth potential ? My own guess would be in the region of £20m - £30m , or 2 1/2X to 4x sales , and at the higher level that is 20p per Omega share . For comparison , both Thermo-Fisher and Abbot Labs in the US trade at over 5X sales . We know from recent presentations that Omega is targeting £12m of sales from Allergies within 5 years , and greater than US$20m of sales from Visitect within 3 - 5 years , both at around 70% gross margins , and both pretty much from a standing start . Adding in the target of US$19.5m of sales from Food Intolerance within 3 - 5 years , and without anything at all from COVID 19 , Omega has total revenue targets of US$54.5m within 5 years . Given the above potential , the core value of Omega is justifiably 25p in my view , so , at Friday's close of 29p , the COVID 19 involvement is being valued at only 4p per share or £6m .
Omega Diagnostics share price data is direct from the London Stock Exchange
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