Report
Michael Waterhouse
EUR 100.00 For Business Accounts Only

Straumann's regional expansion should provide momentum, but margins face long-term degradation.

We do not anticipate major changes to our fair value estimate after we update our assumptions for Straumann, and we are reiterating our narrow-moat rating. Fourth-quarter revenue grew to approximately CHF 311 million, up by roughly 28% versus the year-ago period, compared with our CHF 290 million forecast. The strong performance prompted a dividend increase to CHF 4.75 per share, up from CHF 4.25. Furthermore, our previous 2018 revenue forecast of approximately 1.3 billion CHF is not too far awa...
Underlying
Straumann Holding AG

Straumann is engaged in tooth replacement solutions that include dental implants, prosthetics and regenerative products. Co. develops, manufactures and supplies dental implants, instruments, computer-aided design/computer-aided manufacturing prosthetics and tissue regeneration products for use in tooth replacement and restoration solutions or to prevent tooth loss. Co. provides a range of services to dental practitioners, clinics and laboratories. Through a collaboration with its academic partner the International Team for Implantology ( ITI), Co. supports research and offers training and education to dental professionals worldwide.

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
Michael Waterhouse

Other Reports on these Companies
Other Reports from Morningstar

ResearchPool Subscriptions

Get the most out of your insights

Get in touch