Broker upgrade
Analysts at Bell Potter were pleased with the company's performance during FY 2024. In response to its results, the broker said: In light of this, the broker has upgraded the ASX 200 healthcare stock to a buy rating with an improved price target of $3.00 (from $2.52). Based on its current share price of $2.49, this implies potential upside of 20.5% for investors over the next 12 months.
FY25 revenues remain largely unchanged, however, we now expect PNV will expand its direct sales force in the US by at least 25 to 30 heads in order to maximise market share while Integra remains off the market due to production issues at its Boston plant which makes the Primatrix and Surgimend products. FY25 earnings are downgraded due to the inclusion of additional cost in R&D and marketing headcount. FY26 revenues are upgraded by 8%. Valuation is increased by 19% to $3.00 (from $2.52) and we upgrade our recommendation to Buy.
