Demant (Hold, TP: DKK320.00) - Strong start to the year
The company said the recovery of the hearing aid market is progressing at least in line with management assumptions, driving an upgrade of both organic revenue growth and EBIT guidance. 2021e is now expected to be less back-end-loaded than previously, driven by strong profitability in Q1. We see positive consensus 2021e EPS changes on the back of the raised guidance of c5%, and see the share price up 3–5% on upbeat comments regarding the recovery.William Demant Holding is a holding company. Through its subsidiaries, Co develops, manufactures and sells products and equipment designed to aid the hearing and communication of individuals. Co. focuses on four areas: Hearing Devices, Diagnostic Instruments, Hearing Implants and Personal Communication. Co.'s hearing devices include Oticon, Bernafon, Sonic, Phonic Ear, and FrontRow. Co.'s Hearing implant consist of Oticon Medical. Co.'s diagnostic instruments include Maico, Interacoustics, Amplivox, Grason-Stadler, MedRx, and Micromedical. Co.'s personal communication consists of Sennheiser Communications.
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