A director at Sigma Healthcare Limited sold 100,000,000 shares at 2.970AUD and the significance rating of the trade was 76/100. 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 ...
The independent financial analyst theScreener just downgraded the general evaluation of SIGMA HEALTHCARE (AU), active in the Drug Retailers industry. As regards its fundamental valuation, the title loses a star(s) and now shows 1 out of 4 stars. Its market behaviour is also negatively reassessed and may be considered as moderately risky. theScreener believes that this double requalification keeps the title under pressure and justifies an overall rating downgrade to Neutral. As of the analysis da...
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....
It was important for Sigma to deliver a result and an outlook inspiring confidence among shareholders, with some still smarting over its decision to spurn Australian Pharmaceutical Industries', or API's, merger proposal. A fiscal 2019 underlying EBIT of AUD 76 million (down 16%) was a good start, compared with the AUD 75 million guidance which was also our estimate. Granted, EBITDA/cash conversion was low at 35%, as cash conversion cycle increased by 4 days to 36. This, combined with the capita...
Sigma Pharmaceuticals is one of Australia's three pharmaceutical wholesalers. Historically, the company has impressed on several fronts, displaying a capacity to grow both organically and by acquisition. However, in 2005, Sigma merged with then rapidly growing generic pharmaceutical supplier Arrow Pharmaceuticals, which proved disappointing and led to a significant write-down in the value of related goodwill. Subsequently, in 2010, Sigma agreed to sell its manufacturing and generics business to ...
It was important for Sigma to deliver a result and an outlook inspiring confidence among shareholders, with some still smarting over its decision to spurn Australian Pharmaceutical Industries', or API's, merger proposal. A fiscal 2019 underlying EBIT of AUD 76 million (down 16%) was a good start, compared with the AUD 75 million guidance which was also our estimate. Granted, EBITDA/cash conversion was low at 35%, as cash conversion cycle increased by 4 days to 36. This, combined with the capital...
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...
Sigma Pharmaceuticals is one of Australia's three pharmaceutical wholesalers. Historically, the company has impressed on several fronts, displaying a capacity to grow both organically and by acquisition. However, in 2005, Sigma merged with then rapidly growing generic pharmaceutical supplier Arrow Pharmaceuticals, which proved disappointing and led to a significant write-down in the value of related goodwill. Subsequently, in 2010, Sigma agreed to sell its manufacturing and generics business to ...
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...
Sigma Pharmaceuticals is one of Australia's three pharmaceutical wholesalers. Historically, the company has impressed on several fronts, displaying a capacity to grow both organically and by acquisition. However, in 2005, Sigma merged with then rapidly growing generic pharmaceutical supplier Arrow Pharmaceuticals, which proved disappointing and led to a significant write-down in the value of related goodwill. Subsequently, in 2010, Sigma agreed to sell its manufacturing and generics business to ...
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 ...
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 have transferred analyst coverage of narrow-moat-rated Sigma Healthcare. We maintain our current forecasts and our AUD 0.70 per share fair value estimate. We forecast Sigma's revenue and earnings in fiscal 2020 to be hit by the loss of key customer My Chemist/Chemist Warehouse Group, or MC/CW. Nonetheless, our longer-term revenue growth assumptions are unchanged at around 1.5% per year, reflecting underlying growth of the Pharmaceutical Benefits Scheme, or PBS, from the beginning of fiscal 20...
We have transferred analyst coverage of narrow-moat-rated Sigma Healthcare. We maintain our current forecasts and our AUD 0.70 per share fair value estimate. We forecast Sigma's revenue and earnings in fiscal 2020 to be hit by the loss of key customer My Chemist/Chemist Warehouse Group, or MC/CW. Nonetheless, our longer-term revenue growth assumptions are unchanged at around 1.5% per year, reflecting underlying growth of the Pharmaceutical Benefits Scheme, or PBS, from the beginning of fiscal 2...
Sigma Pharmaceuticals is one of Australia's three pharmaceutical wholesalers. Historically, the company has impressed on several fronts, displaying a capacity to grow both organically and by acquisition. However, in 2005, Sigma merged with then rapidly growing generic pharmaceutical supplier Arrow Pharmaceuticals, which proved disappointing and led to a significant write-down in the value of related goodwill. Subsequently, in 2010, Sigma agreed to sell its manufacturing and generics business to ...
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