Guerbet S.A.

Guerbet is a French pharmaceutical group that develops, markets, and provides maintenance services for medical equipment and devices destined for diagnostic and interventional imaging. Co.'s portfolio comprises media solutions covering MRI, X-rays and products devoted to International Radiology and Theranostics and medical devices. Co. organizes its operation by product family covering Magnetic Resonance Imaging (MRI), X-rays (XR) and Interventional Radiology and Theranostics (IRT). The MRI family includes Dotarem® and Artirem®; Co.'s X-ray product family includes Xenetix®, Optiray®/Optiject®, Oxilan®, and Telebrix®; and the IRT product family has Lipiodol®, Bleu Patente V and Hexabrix®.
  • TickerGBT
  • ISINFR0000032526
  • ExchangeEuronext Paris
  • SectorPharmaceuticals & Biotechnology
  • CountryFrance

GUERBET reduced its risk exposure resulting in an upgrade to Slightly Positive

GUERBET (FR), a company active in the Pharmaceuticals industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 1 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date August 21, 2020, the closing price was EUR 29.50 and its potential was estimated at EUR 37.58.

Anthony Dick ...
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 07/24/2020

The shock caused by the COVID-19 pandemic is much bigger than the previous impacts seen since the Bureau Veritas IPO (October 2007), whether from the financial crisis (2008-2009), the sudden drop in oil prices (2014-2015) or the trade war (2019). Q2 2020 results will show historically large organic declines (double digits in some cases) even though sector groups theoretically have resilient and diversified profiles. Eurofins and Bureau Veritas are our Top Picks. We downgrade Applus to...

Anthony Dick ...
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 24/07/2020

Le choc du COVID-19 dépasse largement les précédents impacts négatifs rencontrés depuis l’introduction en Bourse de Bureau Veritas (octobre 2007), que ce soit la crise financière (2008-2009), la chute brutale du cours du pétrole (2014-2015) ou la guerre commerciale (2019). Ces T2 2020 auront un caractère historique par l’ampleur de leur régression organique (à deux chiffres parfois) malgré des profils théoriquement résilients et diversifiés. Eurofins et Bureau Veritas sont nos valeurs...

Christophe-Raphaël Ganet

Guerbet : Q2 2020 sales hit by COVID – The crisis is not over in Brazil and the US – The price for Dotarem remains a challenge – € 34 vs € 31

>Q2 down 19% - orders postponed due to the COVID pandemic - Sales were down 19% and around -20% at constant exchange rates. (i.e. € 164.5m).At 30 June, sales dropped by 9.2% to € 363.7m (forex impact: -€ 3.4m / -8.4% at cc). In Europe, sales dropped by 21% (€ 138.8m): most countries were down (note the continued negative price effects in France, Switzerland and Turkey on Dotarem®). In the Americas, sales (€ 102.7m) correspond to a decrease of 17.2% (-13.6% at cc ...

Christophe-Raphaël Ganet

Guerbet : CA T2 2020 impacté par le COVID – La crise n’est pas terminée au Brésil + USA – Le prix pour Dotarem demeurent un challenge – 34 € vs 30.6 €

>T2 en repli de 19% - Reports de commandes liés au COVID - Le CA est en baisse de 19% et environ -20% à tcc. (soit 164.5 M€).Au 30 juin, le CA recule de 9.2% à 363.7 M€ (impact FX : -3.4 M€ / -8.4% à tcc.). En Europe. le CA perd 21% (138.8 M€) : la plupart des pays sont en repli (à noter la poursuite d’effets prix négatif en France, Suisse, et Turquie sur Dotarem®). Sur la Zone Amérique, le CA (102.7 M€) correspond à une baisse de 17.2% (-13.6% à tcc. / baisse de...

Christophe-Raphaël Ganet

ODDO : Update

>Resilience confirmed: Q1 sales: +6% - To date, the sector has reported around 6% growth in Q1 revenues (Q2 will be more impacted: -10%e in our models). At the same time, we have lowered, on average, our projections by around 3% on 2020e revenues and by 9% on 2020e OIR.Finally, in the crisis, half of the issuers have, at this stage, cancelled the payment of their dividend.Performances: +14% (over the last 2 months) - At the same time, the sector'...

Christophe-Raphaël Ganet

ODDO : Update Santé

>Résilience plutôt confortée: CA T1: +6% - A ce jour, le secteur a publié une croissance d’environ 6% des CA T1 (T2 sera plus impacté : -10%e dans nos modèles). Dans le même temps, nous avons abaissé, en moyenne, nos projections d’environ 3% sur le CA 2020e, et de 9%, au niveau du ROC 2020e.Enfin, dans la crise, la moitié des émetteurs ont, à ce stade, annulé le versement de leur dividende.Performance boursière: +14% (sur les 2 derniers mois) - P...

Christophe-Raphaël Ganet

Guerbet : Q1 2020 sales in line - it is difficult to make forecasts for after June - target price adjusted to € 30.6 vs € 34

>Q1 in line, but with a slightly more contrasted mix than expected - Q4 sales came in at € 199.2m, i.e. +1% and +1.4% at constant currencies (cc). X-ray sales have increased in accordance with management’s latest indications (€ 107m/+4.3%), MRI sales have consolidated (€ 64.4m/-3%) and RIT sales have sharply increased (€ 19.2m/+15%), pursuing its market share gains (ramp-up effect). The growth difference between Europe and the RoW is higher than we expected. In Europe...

Anthony Dick ...
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 07/24/2020

The shock caused by the COVID-19 pandemic is much bigger than the previous impacts seen since the Bureau Veritas IPO (October 2007), whether from the financial crisis (2008-2009), the sudden drop in oil prices (2014-2015) or the trade war (2019). Q2 2020 results will show historically large organic declines (double digits in some cases) even though sector groups theoretically have resilient and diversified profiles. Eurofins and Bureau Veritas are our Top Picks. We downgrade Applus to...

Anthony Dick ...
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 24/07/2020

Le choc du COVID-19 dépasse largement les précédents impacts négatifs rencontrés depuis l’introduction en Bourse de Bureau Veritas (octobre 2007), que ce soit la crise financière (2008-2009), la chute brutale du cours du pétrole (2014-2015) ou la guerre commerciale (2019). Ces T2 2020 auront un caractère historique par l’ampleur de leur régression organique (à deux chiffres parfois) malgré des profils théoriquement résilients et diversifiés. Eurofins et Bureau Veritas sont nos valeurs...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/04/2020

...

Alain William ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas David
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 04/05/2020 Date Performance depuis l’entrée Date Performance depuis l’entrée

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GUERBET reduced its risk exposure resulting in an upgrade to Slightly Positive

GUERBET (FR), a company active in the Pharmaceuticals industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 1 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date August 21, 2020, the closing price was EUR 29.50 and its potential was estimated at EUR 37.58.

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 we...

Guerbet - Assemblée Générale des actionnaires du 29 mai 2020

Proxinvest note que le conseil d’administration est toujours composé d’une majorité de membres non libres de conflits d’intérêts potentiels avec un taux d’indépendance de 30%. Par conséquent, cela ne nous permet pas d’approuver le renouvellement de Mark Fouquet, membre de la famille Guerbet, d’autant plus que cette famille est en sur représentation au conseil (résolution 17). Par ailleurs, la durée de mandat de 6 ans ne respecte pas les recommandations de Proxinvest, l’ECGS, l’AFG et le Code AFEP-MEDEF. Tout comme l’année dernière, Proxinvest remarque que les politiques de rémunération des di...

Guerbet SA - Assemblée Générale des actionnaires du 24 mai 2019

Le conseil d'administration ne comprendra plus de dirigeant car le mandat d'administrateur du Directeur Général qui arrive à échéance n'est pas renouvelé. Il comprendra donc 10 membres contre 11 précédemment mais il est toujours composé d'une majorité de membres non libres de conflits d'intérêts potentiels, ce qui ne permet pas d'approuver le renouvellement d'un membre de la famille Guerbet, d'autant plus que cette famille est en sur-représentation avec 60% des sièges du conseil pour 53% du capital (résolution 13). Comme chaque année, les politiques de rémunération des dirigeants mandataires ...

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