Un record au T1 17, prudence sur la rentabilité - VENTE - OC 143€ (vs 129€)
La publication des ventes au T1 17 (croissance lfl de +13,7%) atteint un record. Le groupe prend ainsi une avance confortable sur sa guidance annuelle (+8%/+9%) qui devrait être relevée au S1 17. Sur 2017, les forces de résistances (Virtuo, nouveaux tests FilmArray RP, indications PCT) dernièrement mises en place devraient protéger la croissance de la concurrence et stimuler les parts de marché. Nous relevons nos estimations de CA 17e/18e/19e de +2,2%/+3,8%/+4,7%et ajustons notre OC à 143€ vs 129€ préc. Néanmoins, nous conservons notre recommandation à l’approche de la régulation PAMA en 2018 et du retour anticipé de la taxe sur les dispositifs médicaux.Co. specializes in the field of in vitro diagnostics for clinical and industrial applications. Co. designs, develops, manufactures and markets systems used in: Clinical Applications (the diagnosis of infectious diseases such as hepatitis, HIV, tuberculosis and respiratory illnesses, as well as pathologies such as cardiovascular diseases and cancers, based on the analysis of biological samples such as blood, saliva or urine); and Industrial Applications (microbiological analysis of samples of finished or semi-finished products (or of the environment), chiefly in the food processing and biopharmaceutical industries), detecting microorganisms in agri-food, pharmaceutical and cosmetic products.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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