Two Directors at H & M Hennes & Mauritz AB bought 4,250,970 shares at between 139.350SEK and 140.690SEK. The significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's di...
Q1 sales beat our forecast by 5% and adj. EBITA outperformed by 8%. Overall, we believe the highlight in the report was the stronger haemophilia result than expected, with solid growth in Altuvoct and a smaller decline for Elocta than forecast. The weak spot was Vonjo sales, which missed our estimate by 28% and consensus by 29%, with management citing stocking issues. We reiterate our BUY and SEK365 target price.
We forecast a decent quarter, despite some difficult revenue comparables, with no manufacturing revenues, lower Elocta sales and lower Beyfortus royalties YOY, unlikely to be fully compensated by new product growth, such as for Altuvoct. Meanwhile, the company continues to invest in its recently launched products (and coming launches), which should be well known by the market. We reiterate our BUY and SEK365 target price.
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