reports
- Chris Kallos
- CFA
Sigma enjoys winning market share despite a challenging operating envi...
Our fair value estimate for narrow-moat Sigma Pharmaceuticals remains unchanged at AUD 1.25 per share, which is broadly in line with current levels. We see the independent review of Pharmacy remuneration and regulation led by Professor Stephen King, or Kings Pharmacy Review, and revisiting of pharmacy ownership rules as an important indicator of potential regulatory changes for pharmaceutical wholesalers. Amendment of ownership rules so that any party could own a pharmacy, subject to requirement...
- Chris Kallos
- CFA
Sigma Delivers a Strong Full-Year Result With Non-PBS Revenue Increasi...
Narrow-moat Sigma Pharmaceuticals delivered a solid full-year result, with underlying net profit after tax of AUD 66.9 million broadly within expectations. The result was characterised by solid increases in Sigma-branded pharmacy sales and a significant improvement in working capital. We raise our fair value estimate by 4% to AUD 1.30 per share, from AUD 1.25 previously. The firm declared a full-year dividend of AUD 0.055, representing a 10% increase on the prior corresponding period, or PCP, an...
- Chris Kallos
- CFA
Sigma enjoys winning market share despite a challenging operating envi...
Our fair value estimate for narrow-moat Sigma Pharmaceuticals remains unchanged at AUD 1.25 per share, which is broadly in line with current levels. We see the independent review of Pharmacy remuneration and regulation led by Professor Stephen King, or Kings Pharmacy Review, and revisiting of pharmacy ownership rules as an important indicator of potential regulatory changes for pharmaceutical wholesalers. Amendment of ownership rules so that any party could own a pharmacy, subject to requirement...
- Chris Kallos
- CFA
King’s Pharmacy Review, Potential Deregulation Immaterial for Sigmaâ...
Our fair value estimate for narrow-moat Sigma Pharmaceuticals remains unchanged at AUD 1.25 per share, which is broadly in line with current levels. We see the independent review of Pharmacy remuneration and regulation led by Professor Stephen King, or Kings Pharmacy Review, and revisiting of pharmacy ownership rules as an important indicator of potential regulatory changes for pharmaceutical wholesalers. Amendment of ownership rules so that any party could own a pharmacy, subject to requirement...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
- Chris Kallos
- CFA
Sigma Pharmaceuticals Delivers Solid Interim, Retail Strategy Gaining ...
Sigma reported better-than-expected underlying interim fiscal 2017 NPAT of AUD 31.7 million, up 14.5% on the prior corresponding period, on sales revenue of AUD 2.2 billion, up 28.1%. Excluding Hepatitis C, sales grew by 7.8% consisting of a 5% uplift derived from non-Pharmaceutical Benefit Scheme sales, or non-PBS sales, with the remaining 2.8% attributed to market share gains. Non-PBS sales represent mostly over the counter, or OTC, sales. This includes private and exclusive label products sup...
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