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Is Biosensors a good buy?
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sjumani123
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09-Jan-2013 18:02
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Biosensors develops, manufactures and commercializes innovative medical devices used in interventional cardiology and critical care procedures. My view of how the BBs push Biosensors is rather simplistic as I don't really know any BBs personally thus I don't have a personal insight on what is really going on.Mutual Fund Performance   |
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infancybird
Senior |
09-Jan-2013 17:55
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Additional info from last sg from credit suisse Sizable acquisition looks more likely Biosensors currently has around US$350 mn cash on its balance sheet and we estimate it needs no more than US$150 mn for its annual operations, given its revenue of US$360 mn during FY13E. The extra cash of around US$200 mn plus the potential S$800 mn cash from note issue indicates that the potential acquisitions might be as high as US$800 mn in the near to medium term. We believe the current share price has not factored the upside from acquisition due the low visibility of the deal size and timeline. Given the previous urgency of management’s decision to redeem the bonds and the note program announced just six months after that, we believe the first sizable deal is very likely to get materialised in the 1Q13, which could act as a catalyst to push up the stock price.
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infancybird
Senior |
09-Jan-2013 17:53
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From Credit Swiss ● Biosensors announced that it has established a S$800 mn Multicurrency Medium Term Note Programme (the “MTN Programme”). ● This confirmed our previous observation that Biosensors’ early redemption of bonds worth S$48.75 mn on 20 November 2012 (around two weeks before the maturity date) highlighted the possibilities of a larger size of debt. Link to the last note ● The MTN Programme is an additional indication that Biosensors may announce an acquisition soon, probably in the 1Q13, in our view, which would unlock Biosensors’ value in its existing technology platform. Considering the potentially significant size of issue, we believe the combined deal size in 03/FY14 could be higher than our previous estimate of US$150 mn, and accordingly the FY14/15E EPS enhancement could be more than 20%. ● Our target price of S$1.80 is based on 20x FY13E EPS, without factoring in any acquisition We maintain our OUTPERFORM rating on the stock. Click here for detailed financials MTN Programme Biosensors announced that it has established a S$800 mn MTN Programme. Its subsidiary Biosensors Investment (Singapore) Pte Ltd (Not listed). shall act as the issuer of notes and all sums payable in respect of the issue will be unconditionally and irrevocably guaranteed by Biosensors, the parent company. Flexible note issue Under the MTN programme, the amount (as long as no more than S$800mn), timeline, currency, maturity and interest method of the note issue shall be at the discretion of Biosensors. We believe this is customised for Biosensors’ cash needs for multiple acquisitions of various sizes from time to time. Biosensors in a great need of acquisition As we mentioned before, Biosensors is gaining market share in the global DES (Drug-eluting stent) market. But we believe its EPS growth will be in only single-digits in the next two or three years due to the shrinking of licensing revenue from Terumo. Strategically, it endeavours to become a platform company with diversified product lines which can sustain its growth.
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New123
Elite |
08-Jan-2013 12:23
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TP 1.50 | ||||
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yiming2000
Senior |
08-Jan-2013 03:33
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Friend Infancybird, Biosensor pays no dividends. At what price will you sell Biosensors? Surely you are not going to hold forever. Do you have a target selling price to reap in your profit?     |
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davidscs
Member |
08-Jan-2013 03:10
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Zynga the Nasdaq Counter will be a better buy than Biosensers.... | ||||
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xkclzf
Member |
08-Jan-2013 00:06
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Jam at 1.25 for a few day with big volume, when it will chiong again? | ||||
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ricourean
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07-Jan-2013 18:16
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got  a hunch anncmnt in coming wks. some acquistion or merger that will enhance shareholder' value |
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junction
Senior |
07-Jan-2013 16:48
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sorry $800m
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junction
Senior |
07-Jan-2013 16:47
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Check SGX website.  Bio has a few hundred million cash and amount of MTN is $800 but don know the rate.
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Splendid88
Member |
07-Jan-2013 07:42
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As the company currently has no debt , this is a positive move. Financial flexibility is an advantage and definitely raises value of company.
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skk888
Veteran |
04-Jan-2013 18:50
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Generally, with more borrowing its going to affect a company gearing. Need to see in detail if the company has too much debt. As of now, there's no news how much they will borrow and at what rate. Thus its does not have that big impact yet. However, my view is that it will go down on Monday.
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infancybird
Senior |
04-Jan-2013 18:16
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The announcement of the 800 million multicurrencies mid-term note is a good news and is a clear precursor to acquisition of another company. Now the company will have enough money ammo to acquire another coy using the new Cash & issue new shares.    Wait for the good news. Hopefully this will widen the company source of earning and profit will jump when the new unit`s income is included in the statement. Just wait wait.
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halleluyah
Elite |
04-Jan-2013 17:51
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Will it effect the px? So gonna up or down next wk.
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skk888
Veteran |
04-Jan-2013 17:46
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The company gonna establish a 800mil multicurrency term notes program. | ||||
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New123
Elite |
04-Jan-2013 15:35
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think nobody can control the mkt. if is time to go up it will...i think breaking out 1.26 is just a matter of time...
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infancybird
Senior |
04-Jan-2013 15:30
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Today ,i-seller mode of operation is to set road block at 1.25  & do   random selling at 1.245. He is buying time for mkt to turn weaker and will then sell aggressively with samll amt of shares to re-establish his tgt price of 1.22, probably next week. Not much to watch for Bio with him around.
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infancybird
Senior |
04-Jan-2013 10:49
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Of course i hope u are right but i feel otherwise as this i-seller(s) are there to block and press in collaboration with and acting for the   the insider BB. It is unlikely to move up but it will drift down the moment there is weakness in general mkt by selling simply a few hundred lots of shares.This has happended many times before.   Got to wait for good news or when they report M& A . Buying volume like that of yesterday will help. Lets see.     
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skk888
Veteran |
04-Jan-2013 10:40
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Judging from the queue at 1.255 and 1.26.. Not likely to get they high..
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Bopanha
Master |
04-Jan-2013 10:20
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The counter will likely see $1.28-$1.30 late afternoon. Huat for those vested big! Lol.. | ||||
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