reports
Novo Nordisk AS: 1 director
A director at Novo Nordisk AS sold 9,000 shares at 915.500DKK and the significance rating of the trade was 100/100. 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 over the last two years clearl...
- ABGSC IT Research
- Daniel Thorsson
- Simon Granath
- ABGSC Telecom Equipment Research
- Oscar Rönnkvist
- Simon Granath
- Karl-Johan Bonnevier
AcadeMedia AB (Buy, TP: SEK65.00) - Finnish market entry
Q3 was solid, with growth, profit and FCF driven by volume and price. The Touhula acquisition appears value-enhancing and AcadeMedia’s recent share redemption makes sense, now starting to address its track record of weak capital allocation. We see a solid demand outlook and an attractive valuation, and reiterate our BUY. We have raised our target price to SEK65 (63), still implying no near-term multiples expansion.
- Håkon Astrup
SpareBank1 Nord-Norge (Buy, TP: NOK115.00) - Loan-loss downtick
Helped by continued NII momentum and moderate loan losses, NONG reported a strong Q1 ROE of 17.8%, even with somewhat elevated cost inflation. Boosted by improved lending margins and decent lending growth, ‘real NII’ rose 1.7%, despite one less interest day and deposit margin pressure. While the CET1 ratio fell ~10bp QOQ, the bank has a solid ~120bp buffer to its 15.8% requirement, boding well for further generous dividend distributions. With the stock trading at a 2025e P/E of ~8.7x, we continu...
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
Telefonaktiebolaget L M Ericsson: 1 director
A director at Telefonaktiebolaget L M Ericsson bought 62,100 shares at 57.256SEK and the significance rating of the trade was 87/100. 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 over the las...
- ABGSC Services Research
- Stefan Knutsson
- Matthew Bryson
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
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- Wedbush Research
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- Matthew Bryson
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
WDC WESTERN DIGITAL CORPORATION
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
QCOM QUALCOMM INC
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MXL MAXLINEAR INC
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
HPE HEWLETT PACKARD ENTERPRISE CO.
AMD ADVANCED MICRO DEVICES INC.
DELL DELL TECHNOLOGIES INC CLASS C
SMCI SUPER MICRO COMPUTER
STX INC.
SEAGATE TECHNOLOGY HLDGS PLC
- ABGSC Services Research
- Stefan Knutsson
- Rune Majlund Dahl
Novo Nordisk (Buy, TP: DKK1100.00) - Small guidance raise
Q1 LCY figures beat consensus due to US rebate adjustments related to 2023 adding c5%-points to LCY growth and low SG&A cost boosting EBIT growth in Q1. Wegovy sales were below consensus but above our forecast, and we have therefore adjusted our rebate assumptions for 2024. The 2024 guidance was raised to LCY sales growth of 19–27% (18–26%) and LCY operating profit growth of 22–30% (21–29%). We reiterate our BUY and DKK1,100 target price.
Change in number of shares and votes in HMS Networks
Change in number of shares and votes in HMS Networks As previously announced, HMS Networks has carried out a directed share issue. The directed share issue has resulted in a change in the number of shares and votes in HMS Networks. Prior to the directed share issue, the total number of shares in HMS Networks amounted to 46,818,868, corresponding to 46,818,868 votes. The number of shares and votes has as a result of the directed share issue increased by 3,500,000. As of April 30, 2024, the total number of shares in HMS Networks amounts to 50,318,868, corresponding to 50,318,868 votes.1 ...
Förändring av antalet aktier och röster i HMS Networks
Förändring av antalet aktier och röster i HMS Networks HMS Networks har som tidigare offentliggjorts genomfört en riktad nyemission av aktier. Emissionen har resulterat i en förändring av antalet aktier och röster i HMS Networks. Före emissionen fanns sammanlagt 46 818 868 aktier i HMS Networks, motsvarande 46 818 868 röster. Antalet aktier och röster har genom emissionen ökat med 3 500 000. Per den 30 april 2024 finns det sammanlagt 50 318 868 aktier i HMS Networks, motsvarande 50 318 868 röster.1 För mer information, vänligen kontakta:Staffan Dahlström, VD HMS, ...
- Mattias Holmberg
Autoliv (Buy, TP: SEK1600.00) - In the fast lane
Despite beating guidance in Q1, Autoliv kept its 2024 guidance intact. In our view, this adds upside potential to consensus for 2024 and some credibility to the 12% medium-term EBIT margin target. Although we estimate 29% YOY growth in 2024e adj. EBIT, fundamentals are likely to be on the sidelines as we expect the company to resume its large share buyback programme in the coming weeks (the mandate has USD873m, c9% of the market cap, left for 2024). We reiterate our BUY and have raised our targe...
HMS Networks AB: 1 director
A director at HMS Networks AB bought 625 shares at 400.000SEK and the significance rating of the trade was 52/100. 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 over the last two years clearly...
- Rune Majlund Dahl
Novo Nordisk (Buy, TP: DKK1100.00) - Company consensus added
We are slightly below consensus on Q1e LCY sales growth (we forecast 19.4%, consensus 21.4%) and LCY operating profit growth (we forecast 16.8%, consensus 19.5%), due to lower expected Wegovy sales. However, we believe the Ozempic US prescription trend will prompt management to raise the 2024 guidance to LCY sales growth of 20–28% (18–26%) and LCY operating profit growth of 23–31% (21–29%). We reiterate our BUY and DKK1,100 target price.
- Karl-Johan Bonnevier
Alligo (Buy, TP: SEK180.00) - Happy to put Q1 behind us
Alligo’s Q1 results were mixed, with the model far from immune to weak markets but now more integrated and enhanced, positioning the company for profitable growth when demand recovers. We find its >10% EBITA margin target ambitious but realistic in a 2026e perspective, and see an industrial roll-up case evolving with recent acquisitions at attractive valuations. We reiterate our BUY and SEK180 target price.
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