Bell Potter Ratings, page-12

@Bgall and @49parkn, I am not disputing this is a great company. I concur with those sentiments.

The company is on track to make ~$10m EBIT (from $100m gross revenue) this year but has been trading at a valuation of over $500m. A 50x multiple is a little bit excessive for a business of this nature.

It seems more likely that a 10-15x EBITDA multiple would be more appropriate which is consistent with high growth healthcare/ medtech enterprises.

I think it would be naive of us to not expect Ben and Matua to sell down 30% or more of their stock to realise some gains.

IMHO GLTA DYOR