Ansell Divests Sexual Wellness Business and Unveils Buyback; Raising FVE
We are raising our fair value estimate for narrow moat Ansell to AUD 25 per share from AUD 22.50, following the better-than-expected sale price achieved for its sexual wellness business, which includes all of Ansell’s condom, lubricant, and devices business, as well as the manufacturing sites, but excludes the joint venture in India, JK Ansell, and a minor contributor to the divisional earnings. Our other operating assumptions remain unchanged. At current levels, we regard the stock as fairly va...Ansell, along with its subsidiaries, is engaged in the development, manufacturing and sourcing, distribution and sale of gloves and protective personal equipment in the industrial and medical gloves market, as well as the sexual wellness category worldwide. Co. operates in four main business segments: Medical, which manufactures and markets surgical and examination gloves together with a range of healthcare safety devices; Industrial, which manufactures and markets hand and body protection solutions; Single Use, which provides single use industrial application gloves; and Sexual Wellness, which manufactures, sells and markets a range of branded condoms, lubricants, devices and fragrances.
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