What’s Latest With These Health Care Stocks - NAN, EBO, COH, PME

  • Nov 23, 2019 AEDT
  • Team Kalkine
What’s Latest With These Health Care Stocks - NAN, EBO, COH, PME

The health care sector is continuously growing, and the companies are in a race of developing new treatments for diseases. In the health care sector, development could be in the manufacturing of new pharmaceutical products, or in the detection or diagnosis of the precise cause of unknown diseases. The health care companies are continuously focusing on diagnosis and drug development and investing huge amounts of money in these initiatives for providing better care to the patients.

Let’s discuss what’s recent with four ASX listed health care stocks- NAN, EBO, COH and PME.

Nanosonics Limited (ASX: NAN)

New South Wales headquartered health care company Nanosonics Limited (ASX: NAN) was founded in 2001 and is working towards improving safety for patients, clinics and staff by introducing new technologies to deliver better standards of care. Trophon® EPR, which is an innovative, unique, automated global solution developed by the company, is used for reducing cross-contamination between patients. The company has its offices in North America, Canada, the United Kingdom and Europe.

Recently the company updated the market through its AGM presentation and highlighted on its market expansion in Europe, Japan and in the Asia pacific.

Market Expansion in Europe-

  • New agreements in Europe are materializing as the rate for adoption of products continues to improve.
  • NAN signed a new agreement with GE Healthcare, effective February 2019 and this is for distribution in Denmark, Finland, Spain and Portugal markets.
  • Nanosonics Limited has appointed a new distributor for Switzerland.

Market Expansion in Japan-

  • Nanosonics Limited has established its Japanese entity- Nanosonics Japan K.K.
  • In Japan, the company has signed various distribution agreements with several distribution partners including GE Healthcare Japan and some distribution agreements are under discussion.

Market Expansion in Asia Pacific

  • The company has appointed a regional president for the Asia Pacific to lead its expansion strategy.
  • Nanosonics Limited has started a market assessment in China by visiting large hospitals, regulatory authorities and the Chinese Centre for Disease control.
  • The preliminary assessment indicates that there may be a remarkable opportunity for Trophon in China.
  • In a recent Chinese infection prevention conference, the company has presented Trophon.

Financial highlights- (for the year ended 30 June 2019)

  • For the fiscal year 2019, the company’s total revenue was $84.3 million, up by 39% on prior corresponding period.
  • The company’s operating profit before tax was $16.8 million for FY2019.
  • The company had cash & cash equivalents of $72.2 million for FY2019.
  • Free cash flow for the fiscal year 2019 was $2.6 million, which was $6.2 million in the prior corresponding period.

The company has made significant investments in R&D with investment increasing to $15 million in the fiscal year 2020, representing an increase of 32% compared to that in FY19.

In the financial year 2020, the company expects approximate expenses to be $67 million reflecting accelerated investments initiated for achieving growth.

Stock performance-

On 22 November 2019, the company’s stock closed at $6.920, down by 4.814% with a market capitalisation of $2.18 billion and outstanding shares of approx. 300.36 million. The stock of Nanosonics Limited has increased by 161.51% on a YTD basis.

EBOS Group Limited (ASX: EBO)

New Zealand headquartered health care company EBOS Group Limited (ASX: EBO) is a leader in the distribution and marketing of medical and pharmaceutical products in 58 locations in Australia and New Zealand. The company is listed on Australian Securities Exchange (ASX) and New Zealand’s Exchange (NZX).

Sale of shares in EBOS-

Sybos Holdings Pte Ltd has signed an underwriting deal with a financial institution, and it would sell 15,000,000 of its shares in EBO to the investors who are invited to attend the bookbuild. Under this agreement the sale being conducted by a fixed price bookbuild and was expected to be completed on 19 November 2019.

Sybos is expected to reduce its shareholding in the EBOS group after this sale considerably, and the sold shares are expected to be widely held by investors who are allocated shares in the Sale. Sybos showed a keen interest in EBOS in 2013 after the acquisition of Symbion, a pharmaceutical wholesaler.

Stock Information-

The company’s stock closed at $21.500 on 22 November 2019, up by 2.381% with a market cap of $3.4 billion and annual dividend yield of 2.86%.

Cochlear Limited (ASX: COH)

A Sydney based, ASX listed health care player Cochlear Limited (ASX: COH) is a leading medical devices company, and it has its regional offices in the United States, Europe and the Asia Pacific. The company is working with the aim of providing hearing aid solutions.

Cochlear™ Osia® 2 System FDA approval-

According to one recent ASX update on 18 November 2019, the company announced that its Cochlear™ Osia® 2 System has been approved by the Food Drug and Administration (FDA).

This is the first osseointegrated steady-state implant system, which is approved in the US for patients aged more than 12 years with conductive hearing loss, mixed hearing loss and single-sided sensorineural deafness. The commercialization of this implant would start in the US during the second half of FY2020 and in some countries the regulatory approval is pending.

Stock Information-

On 22 November 2019, the company’s stock settled at $224.840, up by 0.997% with a market cap of $12.87 billion.

Pro Medicus Limited (ASX: PME)

Richmond, Victoria based health care service provider Pro Medicus Limited (ASX: PME) was founded in 1983, and the company provides seamless, integrated solutions in imaging IT solutions to the health care market. PME’s wholly owned subsidiary Visage Imaging provides imaging and advanced visualization solutions across the globe.

Recently, the company updated the market with its Annual general meeting (AGM) presentation for the year 2019, in which Dr Sam Hupert, who is the Managing Director and CEO of the company, discussed the overview of the company along its new contracts with any extension or renewal in existing contracts. Dr Hupert also talked about new Visage AI Accelerator.

New contracts and extension/renewal of contracts-

  • Seven years of contract with Partners Healthcare worth $27 million.
  • Contract with Duke Health for seven years, worth $14 million.
  • A recent contract with The Ohio State University for five years, worth $9 million.
  • Extension of a contract with Government Hospital in Germany.

Pro Medicus Limited continued to develop innovative products in order to retain its market leadership and launched two products in FY2019-

  • VISAGE 7 Open Archive has the similar highly scalable platform for enterprise imaging as used in VISAGE and is suitable and interoperable for use in environments which are complex. This product is intended for the North American archive market.
  • Enterprise Imaging is an all-inclusive viewer for all relevant images in the medical records and is applicable to the VISAGE 7 technology. The growth opportunity for PME’s Enterprise Imaging lies within the contracts which are existing.

Stock information-

PME’s stock settled the day at $26.490, up by 0.953% on 22 November 2019 and has delivered a return of 130.75% on a YTD basis. The company has approximately 103.98 million outstanding shares with a market capitalisation of nearly $2.73 billion.


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