CDX cardiex limited
Add to My Watchlist 2.44% ! 4.0¢

CardieX has gets hearts racing after independent equities...

  1. Bewlidered1976
    172 Posts.
    lightbulb Created with Sketch. 27
    clock Created with Sketch.
    03/06/22
    08:23
    Post #: 61794047
    CardieX has gets hearts racing after independent equities research shop MST Access placed a $1.50 valuation on the Australian cardiovascular medtech.

    https://**promotion blocked**/health/cardiex-gets-hearts-racing-as-mst-access-reaffirms-value-at-5x-current-share-price/?utm_medium=email&utm_campaign=*%20Morning%20Newsletter-06-02-2022&utm_content=httpsstockheadcomauhealthcardiexgetsheartsracingasmstaccessreaffirmsvalueat5xcurrentshareprice&utm_medium=email&utm_campaign=Morning%20email%20Friday%20June%203&utm_content=Morning%20email%20Friday%20June%203+CID_495cbffc7c2d9b2ee236d321304ebc56&utm_source=Campaign%20Monitor&utm_term=CardieX%20gets%20hearts%20racing%20as%20MST%20Access%20reaffirms%20value%20at%205x%20current%20share%20price

    CardieX has gots hearts racing after independent equities research shop MST Access placed a $1.50 valuation on the Australian cardiovascular medtech.

    The price equates to an overall market cap of about $165 million versus $32 million currently, as the company is currently trading just below 30c a share on market.

    MST is the second leading analyst to put a buy on CardieX in the last six months. In December, with a “spec buy” recommendation and target price of 16 cents. This was on a pre-consolidation basis equating to a target price of $1.60.

    Blue Ocean highlighted “early-stage growth potential and the impending nature of the FDA clearance process for the new product suite” which MST Analyst Chris Kallos also notes, flagging that the US FDA’s recent classification of the CONNEQT App as a Medical Device Data System paved the way for the launch of several consumer-facing products over the next six months.

    “The app will link all CONNEQT products in a new digital ecosystem based on devices using ATCOR’s SphygmoCor® technology,” he says.

    Commercialisation booster

    CardieX last year pivoted into the consumer health space and is working on commercialising a range of wearable, consumer health apps and home health devices .

    The company is booking more revenues following a 5% quarter-over-quarter increase in cash receipts to roughly $1.1 million at the end of the March quarter. This boosted CardieX’s cash balance to $3.9 million as of March 31, 2022.

    Kallos also noted that product development and operating costs were down $320,000 primarily due to prepaid inventory costs for new products in the prior quarter.

    CardieX subsidiary ATCOR Medical’s split into two distinct companies – ATCOR and CONNEQT – last year was part of the company’s move to .

    In March this year – a world-first consumer smartwatch incorporating ATCOR’s FDA-cleared SphygmoCor® heart-health technology.

    Users can monitor their own heart

    “This is the first commercial implementation of ATCOR’s heart monitoring technology in a wearable device,” Kallos says.

    This coupled with continued advancement towards securing FDA clearance for the CONNEQT Pulse and the CONNEQT Band products in the next financial year and a new clinical trial services agreement with Andwin Scientific has prompted MST Access to reaffirm its valuation.

    “We retain our fair value estimate for CardieX at $1.50 per share based on shares on issue of 109.9m (following the 10 for 1 consolidation),” Kallos says in the just released research note.

    “This represents a significant premium to the current share price of $0.28 per share.”

    The CONNEQT Pulse is anticipated to be the world’s first consumer vital signs monitor to include central blood pressure and other advanced arterial health biometrics, while the CONNEQT Band is a new wearable device focused on arterial health and incorporating similar biometric parameters as the Pulse.

    Kallos said the launch of both products should support integration of all products within a digital ecosystem.

    This article was developed in collaboration with CardieX, a * advertiser at the time of publishing

    This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

    Last edited by Bewlidered1976: 03/06/22
    CDX Price at posting: 28.0¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 16  Upvote
    lightbulb Created with Sketch. 3  Great analysis
    Stroke 3 Created with Sketch. Comments Created with Sketch. Reply

  2. Top Stories

 

Featured News

STN Excellent Gold Intercepts Demonstrate Robust Apollo Hill Resource
right-arrow Created with Sketch.
NEWS Week 25 Wrap: Fed & BoE pause rates ahead of RBA; Santos-ADNOC, Oz tax reforms
right-arrow Created with Sketch.
NEWS Infill Drilling at La Negra Returns High-Grade Silver with Standout 28m at 507gpt
right-arrow Created with Sketch.
NEWS Listen: HotCopper Wire Podcast 014 – Abu Dhabi wants to buy our 'true' oil and gas gem
right-arrow Created with Sketch.
DAL Maiden work program to commence for Blue Lagoon Zirconium, Niobium and Rare Earth Project in Greenland
right-arrow Created with Sketch.
NUZ Significant Blood-Brain Barrier Penetration Achieved by NUZ-001
right-arrow Created with Sketch.
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
Add to My Watchlist
(20min delay)
Last
4.0¢ 		Change
-0.001(2.44%) 		Mkt cap ! $17.94M
Open High Low Value Volume
4.0¢ 4.1¢ 4.0¢ $15.12K 377.6K

Buyers (Bids)

No. Vol. Price($)
1 155651 4.0¢
 

Sellers (Offers)

Price($) Vol. No.
4.2¢ 22200 1
View Market Depth
Last trade - 15.18pm 20/06/2025 (20 minute delay) ?
CDX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.