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561-580 of 10899
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_6AB4D0B0607CC7DC48257B2E002FDFDF/$file/BIOS.SI_1.3_Call_Announcement.pdf?openelement
good, if BB said hold, the stock will be up, they always are opposite direction!
Turning cautious, downgrade to Hold. We cut FY3/13-15F net profit forecasts by 9-11% as we turn more cautious in our forecasts and on lower-than-expected licensing revenue. Our SOTP-based TP is consequently reduced to SGD1.28. We downgrade Biosensors to a Hold as we see limited upside to our revised TP. While we like the long- term growth potential, we believe that near-term uncertainties may limit share price appreciation. The commercialsation of BioFreedom could be a positive catalyst but this will be an event for 2014.
Intensifying competition in Japan. Weak licensing revenue dragged down Biosensors’ 3QFY3/13 results, resulting in management revising down their FY3/13F revenue YoY growth guidance to 15-20% (from 20- 30%). Biosensors is collaborating with Terumo to regain market share but with increased pricing pressures, intensifying competition and added cost of more aggressive marketing, we deemed it hard to see a net positive effect in the next one to two quarters.
M& As necessary for long-term growth. Biosensors is likely to seek out M& As this year as it would fit into its long-term strategy of transforming into a multi-product medical equipment company.. We suspect that the recent drawdown of SGD300m from its MTN program despite being in a net cash position could be for this purpose. Depending on the specifics of any potential deals, this could be viewed positively or negatively. But we do caution that transactions in the healthcare sector are typically done at high valuation multiples. We will revisit our recommendation and TP on better clarity.
BioFreedom contributions only from 2014. BioFreedom has received CE Mark approval. More clinical trials will be conducted to further prove its efficacy. Full commercial launch is only expected in 2014 and we think that it is too far ahead to provide positive share price trigger.
Licensing not expected to last forever. While Biosensors looks cheap at 12.6x FY3/14F PER, we do not expect its licensing revenue with Terumo to last for forever. This is the key reason why our TP is lower than consensus. We value it separately using DCF but we have attributed a fair 18x PER multiple on its core business.
Source: Maybank Kim Eng Research - 13 Mar 2013
The whole market does not look very promising at all...
Selling the juicy peaks may be the best approach to take...
I don't see bullish engulfing candle as at today closing (14 Mar). Its leg is too short to call it a hammer, but it reached the lower Bol band. Also, its MACD still below its signal line... bad sign.
Its future direction still very unclear.
The whole drop from the top is
pengsan...
Sifu is using the correct terminology (collect)... I like...
junction ( Date: 14-Mar-2013 21:35) Posted:
From 1.24 drop to 1.20 is pengsan? You bought in millions? Well I just got in at 1.20 and will collect more if it goes down further, bearing in mind the management still has the mandate to buyback at aroung 1.17.
iPunter ( Date: 13-Mar-2013 12:52) Posted:
Looks very pengsan... I had intended to long @1.24, but luckily did not place the order...
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Hold (from Buy)
Target price: SGD1.28 (from SGD1.38)
Maybank Kim Eng
Charts may not be that accurate too..need both TA & FA
marubozu1688 ( Date: 02-Mar-2013 00:07) Posted:
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From 1.24 drop to 1.20 is pengsan? You bought in millions? Well I just got in at 1.20 and will collect more if it goes down further, bearing in mind the management still has the mandate to buyback at aroung 1.17.
iPunter ( Date: 13-Mar-2013 12:52) Posted:
Looks very pengsan... I had intended to long @1.24, but luckily did not place the order...
Flashstep ( Date: 13-Mar-2013 12:46) Posted:
| Such a burden to my portfolio now. It has been on a downride since it's Financial Report. |
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tdy it form a hammer. it may bounce off from here tmr.
Si mi yi si?
Hulumas ( Date: 14-Mar-2013 20:43) Posted:
不 可 急 功 近 利 的 股 票 。
Stocky901 ( Date: 14-Mar-2013 17:58) Posted:
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不 可 急 功 近 利 的 股 票 。
Stocky901 ( Date: 14-Mar-2013 17:58) Posted:
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Still no sign of recovery.
Strong support at $1.20.
Turning cautious, downgrade to Hold. We cut FY3/13-15F net profit forecasts by 9-11% as we turn more cautious in our forecasts and on lower-than-expected licensing revenue. Our SOTP-based TP is consequently reduced to SGD1.28. We downgrade Biosensors to a Hold as we see limited upside to our revised TP. While we like the long- term growth potential, we believe that near-term uncertainties may limit share price appreciation. The commercialsation of BioFreedom could be a positive catalyst but this will be an event for 2014.
Intensifying competition in Japan. Weak licensing revenue dragged down Biosensors’ 3QFY3/13 results, resulting in management revising down their FY3/13F revenue YoY growth guidance to 15-20% (from 20- 30%). Biosensors is collaborating with Terumo to regain market share but with increased pricing pressures, intensifying competition and added cost of more aggressive marketing, we deemed it hard to see a net positive effect in the next one to two quarters.
M& As necessary for long-term growth. Biosensors is likely to seek out M& As this year as it would fit into its long-term strategy of transforming into a multi-product medical equipment company.. We suspect that the recent drawdown of SGD300m from its MTN program despite being in a net cash position could be for this purpose. Depending on the specifics of any potential deals, this could be viewed positively or negatively. But we do caution that transactions in the healthcare sector are typically done at high valuation multiples. We will revisit our recommendation and TP on better clarity.
BioFreedom contributions only from 2014. BioFreedom has received CE Mark approval. More clinical trials will be conducted to further prove its efficacy. Full commercial launch is only expected in 2014 and we think that it is too far ahead to provide positive share price trigger.
Licensing not expected to last forever. While Biosensors looks cheap at 12.6x FY3/14F PER, we do not expect its licensing revenue with Terumo to last for forever. This is the key reason why our TP is lower than consensus. We value it separately using DCF but we have attributed a fair 18x PER multiple on its core business.
Source: Maybank Kim Eng Research - 13 Mar 2013
Oops, paiseh.
Read wrongly. Thanks for the correction.
skk888 ( Date: 14-Mar-2013 02:27) Posted:
Err I think you got it wrong, it's not Biosensors who got the funding.
I quote from the page:
" One of the three start-ups - Clearbridge BioMedics - also announced it has secured additional funding from private investors."
" The other two companies that received funding from SPRING are Advanced Medicine Holdings and Sano V."
" Clearbridge BioMedics says it is confident it can put out a better product at a significantly lower cost.Currently, the device is only available for research purposes, and it could be any number of years before it's cleared for clinical use.
Some of the firm's backers include Clearbridge BSA, BioVeda, Biosensors founder Lu Yoh Chie and Vertex Venture Management, the wholly-owned venture capital arm of Temasek Holdings."
Just want to highlight in case anyone get misled. :) But nonetheless, hope Biosensors recovers tomorrow.
Flashstep ( Date: 14-Mar-2013 01:11) Posted:
| Hello Yiming,
Me holding 15 lot at 1.32, bought it before their FR announcement.
Anyway, One piece of good news here. Govt fund to help biosensors.
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1259773/1/.html
Hope for more positive news.
Nights. |
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That is true, sifu...
Encountering too may stop losses is a drain on one's available cash.
That is why it is so important to enter only at
strict points.
Stocks is all a matter of betting right, not insisting on being right.
One can't have the cake and eat it... protection of capital is the top priority,
The price of such protection is small losses ... otherwise one risks BIG losses...
kingkongdotcom ( Date: 13-Mar-2013 21:19) Posted:
Sifu ipunter
I found it very difficult to trade in local market. Havent analyse the price action or havent TP, price already fall back
Many counter have only false breakout, " one day/one moment" . eg. Recently, Noble, Cosco, Hancore many times.....many more Either In and Out super fast with 1/2 bid profit or i just ride it become long term " stucker" . But really paid a lot of fee jump in jump out. Trade in Us is easier and even cheaper as no lot size.
iPunter ( Date: 13-Mar-2013 18:51) Posted:
My profit target depends on the ongoing price action...
If I don't like the action I am seeing, I even get out at the same price I entered at...
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Err I think you got it wrong, it's not Biosensors who got the funding.
I quote from the page:
"
One of the three start-ups - Clearbridge BioMedics - also announced it has secured additional funding from private investors." "
The other two companies that received funding from SPRING are Advanced Medicine Holdings and Sano V." "
Clearbridge BioMedics says it is confident it can put out a better product at a significantly lower cost.Currently, the device is only available for research purposes, and it could be any number of years before it's cleared for clinical use.Some of the firm's backers include Clearbridge BSA, BioVeda, Biosensors founder Lu Yoh Chie and Vertex Venture Management, the wholly-owned venture capital arm of Temasek Holdings." Just want to highlight in case anyone get misled. :) But nonetheless, hope Biosensors recovers tomorrow.
Flashstep ( Date: 14-Mar-2013 01:11) Posted:
Hello Yiming,
Me holding 15 lot at 1.32, bought it before their FR announcement.
Anyway, One piece of good news here. Govt fund to help biosensors.
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1259773/1/.html
Hope for more positive news.
Nights.
yiming2000 ( Date: 14-Mar-2013 00:46) Posted:
Friend Flashstep, how many lots of Biosensors in your portfolio and what was your entry price? I have 20 lots and my entry price was 1.48 average and have been holding for 12 months . I am down $5,700.
I still think Biosensors may recover.  |
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Hello Yiming,
Me holding 15 lot at 1.32, bought it before their FR announcement.
Anyway, One piece of good news here. Govt fund to help biosensors.
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1259773/1/.html
Hope for more positive news.
Nights.
yiming2000 ( Date: 14-Mar-2013 00:46) Posted:
Friend Flashstep, how many lots of Biosensors in your portfolio and what was your entry price? I have 20 lots and my entry price was 1.48 average and have been holding for 12 months . I am down $5,700.
I still think Biosensors may recover.
Flashstep ( Date: 13-Mar-2013 12:46) Posted:
| Such a burden to my portfolio now. It has been on a downride since it's Financial Report. |
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Friend Flashstep, how many lots of Biosensors in your portfolio and what was your entry price? I have 20 lots and my entry price was 1.48 average and have been holding for 12 months . I am down $5,700.
I still think Biosensors may recover.
Flashstep ( Date: 13-Mar-2013 12:46) Posted:
| Such a burden to my portfolio now. It has been on a downride since it's Financial Report. |
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