Bayer is a life sciences group based in Germany. Co.'s operations are organized along three divisions: Pharmaceuticals (engaged in prescription pharmaceuticals for cardiology and women's healthcare); Consumer Health (engaged in non-prescription products in dermatology, dietary supplement, analgesic, gastrointestinal, allergy, cold and flu, foot care, sun protection and cardiovascular risk prevention categories); and CropScience (engaged in the development of seeds and plant traits; crop protection; and for gardens, the green industry and non-agricultural pest control). Co. also maintains an Animal Health business unit engaged in the development of products for farm and companion animals.
  • TickerBAYN
  • ISINDE000BAY0017
  • SectorPharmaceuticals & Biotechnology
  • CountryGermany

Bayer AG: Uncertainties around Bayer´s mechanism to settle future claims are credit negative

The uncertainties with regards to the mechanism to settle potential future Roundup cases is credit negative for Bayer

Research Department

INFORME DIARIO 08 JULIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: BANKINTER, BBVA, REPSOL, SANTANDER. EUROPA: BAYER, DEUSTCHE POST Esperada toma de beneficios Caídas en las bosas europeas después del rally del día anterior, en el que tampoco ayudaron las peores perspectivas de la CE para el 2020, que espera que la economía española caiga un -10,9% este año, frente a la caída del -9,4% de hace dos meses y que para el conjunto de la U.E. se espera una contracción de la actividad del -8,7% en 2020 (vs -7,7% anterior) seguido de un rebote del 6,1% en 2021 (vs 6,3% anterior). La inflación bordearía terreno negativo ...

Oscar Rodriguez

BAYER: POSIBLE RECHAZO AL PLAN DE RESOLUCIÓN DE BAYER POR EL CASO DEL GLIFOSATO (ANÁLISIS BANCO SABADELL)

Según Bloomberg, ayer se habría conocido que un juez de EE.UU. podría obstaculizar el plan de resolución de Bayer por el caso Glifosato que se conoció la semana pasada dado que no estaría de acuerdo, en otras razones, por cómo se estaría tratando los posibles casos futuros. VALORACIÓN Noticia negativa y así lo está recogiendo el valor (cae un -7% vs -1% ES50) ya que puede alejar en el tiempo el cierre definitivo por el caso del Glifosato, siendo éste principal foco de incertidumbre (y de newsflow negativo) de los últimos años. En todo caso, creemos que lo normal es que esto pueda suponer un li...

Bayer AG: Update following Outlook change

Our credit view of Bayer balances weak credit metrics and high cash outflows due to the litigation settlements against its resilient business profile

Jean-Jacques Le Fur

BAYER: Glyphosate settlement: Good news indeed but is it ready for a full recovery? | NEUTRAL | EUR73 vs. EUR67 (+4%)

BAYER - NEUTRAL | EUR73 vs. EUR67 (+4%) Glyphosate settlement: Good news indeed but is it ready for a full recovery? About EUR12bn to settle most of the multiple US litigations A majority of the cases are settled but the issue not fully over Dividend and rating preserved but less financial power Neutral reiterated with a FV increased to EUR73

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Sector Synopsis

Int'l Equity Strategy Global equities were on a tear in early January, continuing the trend that began in 4Q2019. As global equities started to get extended, the coronavirus outbreak hit in mid-January, leading to some market setbacks and deterioration in market indicators as global growth expectations were dialed-in. Despite this deterioration, what was important to us was that there were not any breakdowns. Even the areas of the market most-directly affected by the outbreak -- China (MSCI China) and EM (MSCI EM) -- were not breaking down. To us, this was a reassuring sign of underlying stre...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EM Pullback Opportunity Supporting our global bull market thesis, uptrends remain intact for the major global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM). At this point, concerns surrounding the Wuhan coronavirus have led to some market setbacks and deterioration in market indicators, however they have not resulted in breakdowns. This is true even for areas of the market most-directly affected, including China (MSCI China) and emerging markets (MSCI EM). For these reasons and, as long as there is no significant additional damage, we view recent weakness as a buying opportunity - especially ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Sector Synopsis

Int'l Equity Strategy In using technical analysis, we let the market be our guide. That is, we analyze what is true in the market, utilizing the vast array of tools in our technical analysis toolbox which we then formulate into our outlook using a weight of the evidence approach. In a world where there are no shortages of things to worry about (trade wars, central banks, Trump impeachment, negative interest rates, low global growth, Brexit, Manufacturing weakness, elections, Hong Kong protests, the list goes on...), our tools help us cut through the noise and conjecture. After all, what if th...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Health Care Hitting On All Cylinders Global equities remain in a short-term consolidation phase, however we continue to believe the longer-term trend is up and to the right for the MSCI ACWI following the late-October breakout... see chart below. • Market Ignoring Negative Headlines. Global equity markets continue to generally shrug off seemingly bearish headlines surrounding trade, Trump impeachment hearings, and ongoing protests in Hong Kong. This tells us that the good outweighs the bad in the eyes of the market. While we view the fact that none of these issues have yet to derail global m...

Jérôme VINERIER

Analyse court terme - BAYER : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 66,62 €, puis 59,12 €. Le franchissement de 85,70 € remettrait en cause la suite de la baisse.

1 director bought

A director at Bayer Ag bought 3,265 shares at 61.210EUR and the significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board memb...

Research Department

INFORME DIARIO 08 JULIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: BANKINTER, BBVA, REPSOL, SANTANDER. EUROPA: BAYER, DEUSTCHE POST Esperada toma de beneficios Caídas en las bosas europeas después del rally del día anterior, en el que tampoco ayudaron las peores perspectivas de la CE para el 2020, que espera que la economía española caiga un -10,9% este año, frente a la caída del -9,4% de hace dos meses y que para el conjunto de la U.E. se espera una contracción de la actividad del -8,7% en 2020 (vs -7,7% anterior) seguido de un rebote del 6,1% en 2021 (vs 6,3% anterior). La inflación bordearía terreno negativo ...

Oscar Rodriguez

BAYER: POSIBLE RECHAZO AL PLAN DE RESOLUCIÓN DE BAYER POR EL CASO DEL GLIFOSATO (ANÁLISIS BANCO SABADELL)

Según Bloomberg, ayer se habría conocido que un juez de EE.UU. podría obstaculizar el plan de resolución de Bayer por el caso Glifosato que se conoció la semana pasada dado que no estaría de acuerdo, en otras razones, por cómo se estaría tratando los posibles casos futuros. VALORACIÓN Noticia negativa y así lo está recogiendo el valor (cae un -7% vs -1% ES50) ya que puede alejar en el tiempo el cierre definitivo por el caso del Glifosato, siendo éste principal foco de incertidumbre (y de newsflow negativo) de los últimos años. En todo caso, creemos que lo normal es que esto pueda suponer un li...

Jean-Jacques Le Fur

BAYER: Glyphosate settlement: Good news indeed but is it ready for a full recovery? | NEUTRAL | EUR73 vs. EUR67 (+4%)

BAYER - NEUTRAL | EUR73 vs. EUR67 (+4%) Glyphosate settlement: Good news indeed but is it ready for a full recovery? About EUR12bn to settle most of the multiple US litigations A majority of the cases are settled but the issue not fully over Dividend and rating preserved but less financial power Neutral reiterated with a FV increased to EUR73

Research Department

INFORME DIARIO 25 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ACCIONA, ARCELOR, IAG, MAS MOVIL, PRISA. EUROPA: BAYER Las tensiones comerciales, los rebrotes del Covid-19 y la rebaja del FMI pesan en el mercado Caídas en torno al -3% en las principales bolsas europeas en el día que el FMI volvió a empeorar las previsiones. Así, la economía mundial se contraería un -4,9% en 2020 (-1,9% vs a la estimación del FMI de abril) y la recuperación sería más lenta, +5,4% en 2021 (-0,4% vs abril). A destacar los malos datos que se esperan para España, el más afectado por la pandemia junto con Italia, con una contracció...

Research Department

INFORME DIARIO 24 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ACS, AMADEUS, BANKINTER, CELLNEX, GRUPO CATALANA OCCIDENTE, NH HOTELES, SECTOR ELECTRICO/RENOVABLES, SIEMENS GAMESA, TELEFONICA. EUROPA: BAYER, SAFRAN, UNILEVER Menores tensiones y subidas en bolsa Fuertes ganancias en Europa, después de que las incertidumbres comerciales se redujesen (el acuerdo comercial entre China y EE.UU. sigue vigente) y tras los buenos datos macro adelantados de junio. En el Euro STOXX los mejores sectores fueron financieros como Bancos y cíclicos de beta alta como Autos, mientras que Viajes&Ocio y Construcción fueron los ...

Bayer AG: Uncertainties around Bayer´s mechanism to settle future claims are credit negative

The uncertainties with regards to the mechanism to settle potential future Roundup cases is credit negative for Bayer

Bayer AG: Update following Outlook change

Our credit view of Bayer balances weak credit metrics and high cash outflows due to the litigation settlements against its resilient business profile

Bayer AG: U.S. court vacates EPA´s conditional registrations for dicamba products, a credit negative

The United States Court of Appeals´ decision is credit negative for Bayer.

Bayer AG - March 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Bayer AG - December 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

BAYER AG sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of BAYER AG (DE), active in the Pharmaceuticals industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date February 25, 2020, the closing price was EUR 69.16 and its target price was estimated at EUR 61.25.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Bayer – AGM 28 April 2020

WARNING: Due to the COVID-19 pandemic, the AGM will take place but no shareholders will be allowed to attend personally. Shareholders are invited to vote by proxy, via the independent representative or electronically.   Item 5: We recommend to oppose the revised remuneration system for the Management Board due to our concerns over the structure of remuneration being paid under the system: The maximum total remuneration may reach as much as ~662% of base salary which significantly exceeds ECGS guidelines according to which the maximum total remuneration should generally not exceed 400% of bas...

Expert Corporate Governance Service (ECGS)

Bayer - 26 April 2019 AGM

Items 2 and 3: On 7 June 2018, Bayer closed the acquisition of Monsanto for USD 63bn, including debt, the biggest acquisition in Bayer's history. As of 28 January 2019, lawsuits from approximately 11,200 plaintiffs claiming to have been exposed to glyphosate-based products manufactured by Monsanto had been served in the United States. Since the closing of the merger, Bayer's market capitalisation decreased by almost 42% from EUR 92.3bn to EUR 53.7bn between 7 June 2018 and 29 March 2019. This was a critical destruction of shareholder value, ultimately caused by the Management Board's decision ...

Bayer – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 25/05/2018

General: On 14 September 2016, Bayer signed a definitive merger agreement with Monsanto Company, which provides for Bayer’s acquisition of all outstanding shares in Monsanto against a cash payment of USD 128.00 per share, see section 3.1 for details. Under German law, the transaction is not subject to shareholder approval. The shareholders of Monsanto approved the merger with the requisite majority on 13 December 2016. However, the transaction remains subject to customary closing conditions, including relevant antitrust and other regulatory approvals. The European Commission, has approved the ...

Expert Corporate Governance Service (ECGS)

Proxy Report - 25/05/2018

General: On 14 September 2016, Bayer signed a definitive merger agreement with Monsanto Company, which provides for Bayer’s acquisition of all outstanding shares in Monsanto against a cash payment of USD 128.00 per share, see section 3.1 for details. Under German law, the transaction is not subject to shareholder approval. The shareholders of Monsanto approved the merger with the requisite majority on 13 December 2016. However, the transaction remains subject to customary closing conditions, including relevant antitrust and other regulatory approvals. The European Commission, has approved the ...

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