Norway's Medistim Q2 revenue rises on own-product sales growth
Norway's Medistim Q2 revenue rises on own-product sales growth
Overview
Norway medical device maker's Q2 revenue grew 19.5% yr/yr to NOK 202 mln
Q2 operating profit (EBIT) rose 20.6% to NOK 65.3 mln, EBIT margin at 32.3%
Company to propose authorization for quarterly dividends at next General Meeting
Outlook
Company did not provide specific guidance for future quarters or full year in the press release
Result Drivers
OWN-PRODUCT SALES - Currency-neutral sales of Medistim's own products rose 33.6% in Q2
REGIONAL GROWTH - Strong currency-neutral growth in all regions, with Americas up 46.3%, APAC up 22.4%, and EMEA up 19.4%
DISTRIBUTOR SALES DECLINE - Third-party distributor sales in Scandinavia decreased 7% in the quarter
Company press release: ID:nObiCmSjVa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| NOK 202 mln |
|
Q2 EBIT |
| NOK 65.30 mln |
|
Q2 EBIT Margin |
| 32.00% |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."
Wall Street's median 12-month price target for Medistim ASA is NOK315.00, about 35.2% above its August 20 closing price of NOK233.00
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 29 three months ago
Reuters Recommended Reads
Aug 19 - Sweden's Redsense returns to profit in Q2 on higher sensor patch sales
Aug 19 - Sensirion H1 profit jumps on medical demand; lifts outlook
Aug 20 - Chinese medical device maker Zylox-Tonbridge's revenue rises 31%, aided by global expansion
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)