KBC Securities - ONWARD MEDICAL NV (ONWD) Onward Medical A long-awaited present underneath the Christmas tree

Report

KBC Securities

Thomas Vranken

Onward Medical A long-awaited present underneath the Christmas tree

Right in line with its YE24 guidance, Onward has successfully obtained FDA approval for its non-invasive ARC-EX device. We see the approval as an important inflection point and expect a phased, relatively de-risked launch given the concentrated patient population and Onward's partnership with Lovell. Although home use is not yet included in the label, we believe this could be addressed in 2025 without additional clinical study requirements. We adjust our TP from € 8.7 to € 10.4 and reiterate a Buy rating.

20/12/2024 1 EN

Underlying

ONWARD MEDICAL NV

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NL0015000HT4 Euronext Brussels Netherlands

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Thomas Vranken

Other Reports on these Companies

KBC Securities

Morning Notes : AED BB, COFB BB, TESB BB, ONWD BB, ZEAL DC

: AED BB, COFB BB, TESB BB, ONWD BB, ZEAL DC

6h / 13m 6h / 13m 1 EN

GlobeNewsWire

ONWARD Medical Receives FDA De Novo Classification and US Market Authorization for World’s First Non-Invasive Spinal Cord Stimulation System for People with Chronic Spinal Cord Injury

ONWARD Medical Receives FDA De Novo Classification and US Market Authorization for World’s First Non-Invasive Spinal Cord Stimulation System for People with Chronic Spinal Cord Injury THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE (7)(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014) ARC-EX System is the first and only FDA approved technology shown to improve hand strength and sensation after chronic spinal cord injury ARC-EX System is an FDA Breakthrough Device and 2024 TIME Magazine Best Invention EINDHOVEN, the Netherlands, Dec. 19, 2024 (GLOBE NEWS...

21h / 23m 21h / 23m 1 EN

Cofinimmo FY24 divestment plan completed, all office periphery assets sold

Yesterday Cofinimmo announced the completion of its EUR 215.0m FY24 divestment target. 2 offices are divested and 5 healthcare assets in Belgium and The Netherlands. This comes after Cofinimmo announced 85% of its divestment target was completed last week. At the time, the exact projects were however unknown and the share price did not move on the back of the positive news. All 3 Belgian elderly care assets were leased to Armonea and so it could be a package deal. The Parklane campus was the last office building of Cofinimmo in Brussels periphery. With the updated investment plan given last w...

5h / 38m 5h / 38m 1 EN

Hilde Van Boxstael ... (+6)

Hilde Van Boxstael
Jacob Mekhael
Lynn Hautekeete
Thomas Vranken
Wim Hoste
Wim Lewi

Morning Notes : AED BB, COFB BB, TESB BB, ONWD BB, ZEAL DC

: AED BB, COFB BB, TESB BB, ONWD BB, ZEAL DC

6h / 13m 6h / 13m 1 EN

Wim Hoste

Wim Hoste

Tessenderlo Tough end markets hurt earnings momentum

We have lowered our adjusted EBITDA forecasts for FY24-26 by a 12-15% range following the FY24 adjusted EBITDA guidance reduction from a 5-10% decline to a 15-20% drop. Whilst business conditions in a number of end markets are clearly challenging, Tessenderlo is still generating a sizeable free cash flow, which we estimate at c. 120m for FY24 and which represents a FCF yield of c 10%. The company is using its solid balance sheet and FCF to buy back own shares. Despite the disappointing earnings momentum, we consider valuation to be attractive enough from maintaining our Accumulate rating with ...

6h / 32m 6h / 32m 1 EN

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Onward Medical A long-awaited present underneath the Christmas tree

We are a financial services provider for several types of professional clients, each with distinct needs.

Morning Notes : AED BB, COFB BB, TESB BB, ONWD BB, ZEAL DC

ONWARD Medical Receives FDA De Novo Classification and US Market Authorization for World’s First Non-Invasive Spinal Cord Stimulation System for People with Chronic Spinal Cord Injury

Cofinimmo FY24 divestment plan completed, all office periphery assets sold

Morning Notes : AED BB, COFB BB, TESB BB, ONWD BB, ZEAL DC

Tessenderlo Tough end markets hurt earnings momentum

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