Le renouvellement tardif du marquage CE a pesé - NEUTRE - OC 2,8€ (vs 3,2€)
La société publie ce matin des ventes semestrielles fortement impactées par le décalage lié au renouvellement tardif du marquage CE de l’ensemble de ses gammes. Cet événement étant exceptionnel, la guidance 2018 de 10m€ de CA est confirmée par la société. L’ouverture de nouveaux pays en Asie, les premières ventes aux US, ainsi que le lancement de la gamme MIS, viendront renforcer la croissance. Un rattrapage devrait s’opérer au S2 grâce aux US et à la gamme MIS mais devrait rester insuffisant pour atteindre nos estimations 2016 que nous réduisons afin de tenir compte de ce décalage. Nous conservons notre recommandation à NEUTRE avec un objectif ajusté à 2,8€ vs 3,2€ précédemment.Spineway SA, formerly known as Spineway SAS is a France-based company involved in medical products manufacturing. It designs, produces and sells spinal column implants and surgical instruments. The group offers spinal systems, cervical and lumbar cages, cervical plates, bone substitutes, among others.
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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