AUSTRALIAN PHARMA (AU), a company active in the Drug Retailers industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 2 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date February 18, 2022, the closing price...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
A director at Australian Pharmaceutical Industries Limited bought 25,000 shares at 1.305AUD and the significance rating of the trade was 51/100. 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 directors o...
There is a playbook being followed by all three major Australian pharmaceutical distributors, in a bid to offset margin pressures from Pharmaceutical Benefits Scheme, or PBS, reforms. Australian Pharmaceutical Industries', or API's, fiscal 2019 first-half result shows that management is admirably executing on this playbook, with EBIT up 6% to AUD 44 million and interim DPS increasing 7% to AUD 0.0375, fully franked. The narrow-moat-rated group is redirecting cash flow from its core Pharmacy Dis...
Narrow-moat API is the most vertically integrated of Australia's three national full-line pharmaceutical wholesalers. Incremental conversion of the corporate-owned Priceline stores and additional growth of the Priceline Pharmacy franchise network are revitalising API's earning's profile. Growth of API’s Priceline Pharmacy franchise business in the competitive health and beauty category is encouraging, given the improved earnings profile over the past two years, which suggests that scale benefi...
There is a playbook being followed by all three major Australian pharmaceutical distributors, in a bid to offset margin pressures from Pharmaceutical Benefits Scheme, or PBS, reforms. Australian Pharmaceutical Industries', or API's, fiscal 2019 first-half result shows that management is admirably executing on this playbook, with EBIT up 6% to AUD 44 million and interim DPS increasing 7% to AUD 0.0375, fully franked. The narrow-moat-rated group is redirecting cash flow from its core Pharmacy Dist...
Sigma's rejection of Australian Pharmaceutical Industries', or API's, merger proposal is not surprising to us. Having unveiled last month what it believes to be its sustainable "post-Chemist Warehouse" earnings base, narrow-moat Sigma was never going to meekly accept API's initial merger terms without some haggling. Granted, at our AUD 1.80 fair value estimate for API, the 0.31 API shares plus AUD 0.23 cash offer values Sigma at AUD 0.79 per share, 29% higher than the AUD 0.61 Sigma price before...
Sigma's rejection of Australian Pharmaceutical Industries', or API's, merger proposal is not surprising to us. Having unveiled last month what it believes to be its sustainable "post-Chemist Warehouse" earnings base, narrow-moat Sigma was never going to meekly accept API's initial merger terms without some haggling. Granted, at our AUD 1.80 fair value estimate for API, the 0.31 API shares plus AUD 0.23 cash offer values Sigma at AUD 0.79 per share, 29% higher than the AUD 0.61 Sigma price befor...
Narrow-moat API is the most vertically integrated of Australia's three national full-line pharmaceutical wholesalers. Incremental conversion of the corporate-owned Priceline stores and additional growth of the Priceline Pharmacy franchise network are revitalising API's earning's profile. Growth of API’s Priceline Pharmacy franchise business in the competitive health and beauty category is encouraging, given the improved earnings profile over the past two years, which suggests that scale benefi...
Sigma's rejection of Australian Pharmaceutical Industries', or API's, merger proposal is not surprising to us. Having unveiled last month what it believes to be its sustainable "post-Chemist Warehouse" earnings base, narrow-moat Sigma was never going to meekly accept API's initial merger terms without some haggling. Granted, at our AUD 1.80 fair value estimate for API, the 0.31 API shares plus AUD 0.23 cash offer values Sigma at AUD 0.79 per share, 29% higher than the AUD 0.61 Sigma price before...
We cut our fair value estimate for Sigma by 3% to AUD 0.68 per share, reflecting marginal downgrades to our outer-year earnings forecasts. This follows the outcome of the narrow-moat group's business review, which projects a 10%-plus EBITDA CAGR from fiscal 2021 to 2023. This is a touch shy of our previous expectations but not alarmingly so. The lack of details on how management plans to extract AUD 100 million of cost efficiencies (from an operating cost base of around AUD 290 million) over the...
We cut our fair value estimate for Sigma by 3% to AUD 0.68 per share, reflecting marginal downgrades to our outer-year earnings forecasts. This follows the outcome of the narrow-moat group's business review, which projects a 10%-plus EBITDA CAGR from fiscal 2021 to 2023. This is a touch shy of our previous expectations but not alarmingly so. The lack of details on how management plans to extract AUD 100 million of cost efficiencies (from an operating cost base of around AUD 290 million) over th...
We cut our fair value estimate for Sigma by 3% to AUD 0.68 per share, reflecting marginal downgrades to our outer-year earnings forecasts. This follows the outcome of the narrow-moat group's business review, which projects a 10%-plus EBITDA CAGR from fiscal 2021 to 2023. This is a touch shy of our previous expectations but not alarmingly so. The lack of details on how management plans to extract AUD 100 million of cost efficiencies (from an operating cost base of around AUD 290 million) over the...
Impetus for consolidation in the pharmaceutical distribution space has been brewing for some time, given the challenging top-line conditions and the regulatory environment. Against this backdrop, Australian Pharmaceutical Industries, or API, has seized on Sigma's loss of the Chemist Warehouse contract (and its subsequent weak stock price) as a catalyst to kick-start the consolidation. At API's current price, the merger offer of 0.31 API shares plus AUD 0.23 cash for every Sigma share equates to...
Narrow-moat API is the most vertically integrated of Australia's three national full-line pharmaceutical wholesalers. Incremental conversion of the corporate-owned Priceline stores and additional growth of the Priceline Pharmacy franchise network are revitalising API's earning's profile. Growth of API’s Priceline Pharmacy franchise business in the competitive health and beauty category is encouraging, given the improved earnings profile over the past two years, which suggests that scale benefi...
Impetus for consolidation in the pharmaceutical distribution space has been brewing for some time, given the challenging top-line conditions and the regulatory environment. Against this backdrop, Australian Pharmaceutical Industries, or API, has seized on Sigma's loss of the Chemist Warehouse contract (and its subsequent weak stock price) as a catalyst to kick-start the consolidation. At API's current price, the merger offer of 0.31 API shares plus AUD 0.23 cash for every Sigma share equates to ...
We reduce our fair value estimate for narrow-moat Australian Pharmaceutical Industries, or API, to AUD 1.80 per share from AUD 1.95 following its weaker-than-expected fiscal 2018 result. Underlying net profit after tax of AUD 54.7 million, 0.9% up on the previous year, was 2% below our forecast. The miss was mostly top-line-driven, with group revenue of AUD 4.0 billion, falling 0.9% from last year. The revenue reduction was largely attributable to weaker demand for hepatitis C medicines, with re...
We reduce our fair value estimate for narrow-moat Australian Pharmaceutical Industries, or API, to AUD 1.80 per share from AUD 1.95 following its weaker-than-expected fiscal 2018 result. Underlying net profit after tax of AUD 54.7 million, 0.9% up on the previous year, was 2% below our forecast. The miss was mostly top-line-driven, with group revenue of AUD 4.0 billion, falling 0.9% from last year. The revenue reduction was largely attributable to weaker demand for hepatitis C medicines, with re...
Narrow-moat API is the most vertically integrated of Australia's three national full-line pharmaceutical wholesalers. Incremental conversion of the corporate-owned Priceline stores and additional growth of the Priceline Pharmacy franchise network are revitalising API's earning's profile. Growth of API’s Priceline Pharmacy franchise business in the competitive health and beauty category is encouraging, given the improved earnings profile over the past two years, which suggests that scale benefi...
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