Report
Karen Andersen
EUR 147.86 For Business Accounts Only

Grifols Reports in Line Third Quarter; Maintaining Our Fair Value as Diagnostics Headwinds Abate

Grifols reported third-quarter results that were in line with our expectations, and we’re not making any changes to our EUR 17 per B share/$19 per ADR fair value estimate. Constant currency top-line growth of 4% was driven by another strong quarter for the firm’s bioscience business (6.7% growth), which remains roughly 80% of sales, and diagnostics and hospital sales appear to have recovered (declines in previous quarters have made them headwinds for Grifols this year). EBITDA margin of 28.9% re...
Underlying
Grifols S.A. Pref Class B

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Karen Andersen

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