Initiating Coverage of Getinge AB With SEK 136 Fair Value Estimate, No Moat, and Negative Trend
We are initiating coverage of Getinge AB, a Sweden-based supplier of medical equipment to hospitals on a worldwide basis, with no moat and negative trend ratings. Our estimate of fair value puts Getinge shares at SEK 136, and we view the stock as slightly overvalued.Our primary concerns stem from ongoing quality issues that came to a boiling point with the FDA back in 2015, relating to multiple inspection violations in prior years. The firm has been working to re-establish FDA compliance at a h...
Getinge is engaged in three business areas: Medical Systems, Extended Care and Infection Control. Medical System's product range includes surgical tables, surgical lamps, telemedicine, perfusion products, instruments for bypass operations, ventilators, anesthesia systems, synthetic vascular implants and stents. Extended Care's product range includes bathing and shower solutions, lifting equipment and mattresses for the treatment and prevention of pressure ulcers, as well as service and consulting. Infection Control's product range comprises disinfectors, sterilizers, information technology systems and related equipment, as well as service and consulting.
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