Peu de changements - ACHAT - OC 6,3€ (vs 6,6€)
La société publiait jeudi dernier ses résultats annuels qui se révélaient globalement en ligne avec nos attentes. Pour rappel, SPINEGUARD a bénéficié à la fois d’une forte croissance organique (+24%) mais aussi d’un effet change favorable au niveau des ventes. Cette croissance a été notamment permis par une augmentation de +20% des coûts marketing (vs +10% att) qui confère la plus grosse différence dans nos attentes. Nous maintenons notre recommandation à l’ACHAT avec un objectif de cours de 6,3€ (vs 6,6€ prec.). Prochain catalyseur: les ventes du T1 prévues le 6 avril.SpineGuard SA is a France-based company that develops and markets a product for spine surgery. The Company offers PediGuard, a handheld wireless device that is used to detect possible cortex perforation during pedicle preparation for screw placement. There are three varieties of the product: Classic PediGuard; Curved PediGuard, which has a curved gearshift, and Cannulated PediGuard, which has a cannulated shaft.
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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