Medistim (Hold, TP: NOK385.00) - Still strong, still reflected
We expect further revenue growth in Q3 following Q2’s all-time high sales, based on our expectation of a steady increase in the number of procedures as a result of pent-up demand combined with a further reduced Covid-19-related impact. As we believe sales of imaging systems and probes will return to pre-pandemic levels, we reiterate our HOLD and have lifted our target price to NOK385 (302). The Q3 results are due at 08:00 CET on 22 October.Medistim is engaged in the developing, producing, service, leasing and distribution of medical devices. Co. develops, manufactures and brings to market the quality assessment systems VeriQ™ and VeriQ C™ for cardiac, vascular and transplant surgery. In addition, Co. is a distributor of other medical devices through its subsidiaries: Medistim Norge AS, Medistim Danmark Aps and Medistim Deutschland GmbH. The products distributed are mainly medical devices within all types of surgery.Minus income tax paidInbound VAT receivable
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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