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March 16th, 2022 | 11:18 CET

Valneva, Perimeter Medical Imaging AI, Bayer - Immune to the crisis?

  • medtech
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No sooner did the Corona pandemic seem to be under control than the world was shocked by the invasion of Russian troops in Ukraine. So far, the stock markets have digested the whole situation well. But even without further escalation, the supply situation for raw materials, among other things, will become more complex. The first signs are already awaiting us at the gas pumps. The rise in inflation will continue. Where should one invest given this mixed situation? Regardless of the economic and security situation, stocks from the healthcare sector are a good choice. Beyond fighting viruses or infectious diseases, there are great growth areas. Cancer is one such area. In addition, medical technology is increasingly bringing innovative technologies to the market, in some cases in conjunction with artificial intelligence, with disruption potential.

time to read: 3 minutes | Author: Carsten Mainitz
ISIN: VALNEVA SE EO -_15 | FR0004056851 , PERIMETER MED.IMAG.AI | CA71385D1078 , BAYER AG NA O.N. | DE000BAY0017

Table of contents:

    Valneva - 2023 P/E of 5!

    Valneva focuses on developing and commercializing prophylactic vaccines against infectious diseases with high unmet medical needs. Prophylactic vaccines activate the immune system to protect against infectious diseases. The Company's inactivated Corona vaccine has been the focus of media attention. For 2022, Valneva has firm orders for 25.3 million doses of the VLA2001 vaccine.

    Recently, the Company reported key figures for the past fiscal year. The final figures will be announced on March 24. Product and other sales for 2021 were EUR 94.8 million, at the high end of the Company's guidance range (EUR 85 million to EUR 100 million). Total revenues were significantly higher at EUR 348.1 million (the previous year: EUR 110.3 million) due to a special income of EUR 253.3 million from the termination of the UK COVID-19 vaccine supply contract. Cash and cash equivalents totaled EUR 346.7 million at the end of the year.

    The Company's sales forecast for the current fiscal year is in the range of EUR 430 million to EUR 590 million. The lion's share (EUR 350 to 500 million) is expected to come from the vaccine business, with the remainder coming from sales of other vaccines, collaborations, licenses and services. According to analyst estimates, the 2022 P/E ratio is 9, dropping to a very low 5 in 2023. On average, experts believe the stock has 25% upside potential over the next 12 months. Valneva is currently valued at around EUR 1.8 billion.

    Perimeter Medical Imaging AI - Innovative approach

    Perimeter Medical Imaging AI delivers an innovative approach to fighting cancer. The disease claims the lives of around 10 million people worldwide every year. The goal is to transform cancer surgery with ultra-high resolution, real-time advanced imaging tools to address unmet medical needs. The solutions enable studies of tissue microstructures during surgical procedures using real-time software-based visualization. It allows surgeons, radiologists and pathologists to gain important insights during the examination. Using conventional examination methods, the evaluation of tissue samples takes several days. Patients thus benefit from faster and improved results, while the health system's coffers are also spared.

    The Company marked an important milestone with 510(k) clearance from the US Food and Drug Administration (FDA) for the commercial launch of its flagship Perimeter S-Series OCT platform. Perimeter's clinical team currently recruits patients and engages healthcare providers in the ongoing pivotal study evaluating next-generation Perimeter B-Series OCT with ImgAssist AI in breast lumpectomy. The goal is to collect data from approximately 300 patients at 8 sites and complete the study in 2022.

    A capital increase of nearly CAD 49 million provides the Company with sufficient funds to intensify sales and marketing efforts for its flagship Perimeter S-Series OCT product in leading hospitals. In addition, the Company is present in the market and is currently participating in key industry events and conferences and will continue to do so in the coming weeks. Given the large disruptive potential, Perimeter is worth a look with a current market cap of CAD 175 million.

    Bayer - Outperformer

    Bayer came through the last fiscal year with flying colors despite all the challenges. "All three divisions grew dynamically in 2021 - and more strongly than the respective market," said Bayer CEO Werner Baumann, visibly pleased. Since the beginning of the year, the DAX stock has demonstrated great relative strength compared to the leading index. The positive outlook for the current fiscal year gave the share additional tailwind.

    Group sales are expected to increase by around 5% to approximately EUR 46 billion in 2022. The adjusted EBITDA margin pre exceptionals is expected to be about 26%, corresponding to an operating profit of EUR 12 billion. Analysts believe the shares have an upside potential of 22%.

    All three companies are well-positioned to benefit from growth in the healthcare sector. Valneva has a favorable company valuation, while Bayer should continue its relative strength. Perimeter's solutions have great disruptive potential, and new milestones should be reached in the current year.

    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

    The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

    Risk notice

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    Der Autor

    Carsten Mainitz

    The native Rhineland-Palatinate has been a passionate market participant for more than 25 years. After studying business administration in Mannheim, he worked as a journalist, in equity sales and many years in equity research.

    About the author

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