Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>Extra Edition of the Broker Call Report</li></ul>

Australian Broker Call *Extra* Edition - Jul 07, 2025

<ul>
<li>Update on changes to and revisions of analysts' Best Ideas and Conviction Calls, as well as Model Portfolio compositions</li>
</ul>


Update on changes to and revisions of analysts' Best Ideas and Conviction Calls, as well as Model Portfolio compositions


Rudi's View: CBA, Life360, ResMed, Zip & More

External broker reports(aggregated public sources), Bell Potter Securities

Bell Potter

External broker reports(aggregated public sources)

Bell Potter Securities

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>SHL is a global Pathology company operating in several European markets as well as Australia, US and NZ, holding leading positions in Australia, Germany, Switzerland, UK, Belgium and the #3 position in the US.</li><li>Pathology is an essential healthcare service with mandated growth, but the international network has been developed over decades via dozens of acquisitions in select markets.</li><li>Pathology comprises of c.85% of group revenue, followed by the 3rd largest Australian radiology business (by number of clinics / radiologists, but 2nd largest by market share) comprising c.10% of revenue and the balance via a domestic clinical services business.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SHL is a global Pathology company operating in several European markets as well as Australia, US and NZ, holding leading positions in Australia, Germany, Switzerland, UK, Belgium and the #3 position in the US.Pathology is an essential healthcare service with mandated growth, but the international network has been developed over decades via dozens of acquisitions in select markets.Pathology comprises of c.85% of group revenue, followed by the 3rd largest Australian radiology business (by number of clinics / radiologists, but 2nd largest by market share) comprising c.10% of revenue and the balance via a domestic clinical services business.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Sonic Healthcare (SHL): Intelligent Pathology

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cochlear-ltd" target="_blank" data-smartkarma-citation="entities:918:1" rel="noopener">Cochlear Ltd (COH AU)</a> now expects FY25 underlying net profit to be at the lower end of A$410–430M guidance range due to lower services revenue and higher cloud-related investment.</li>
<li>Despite 5% growth in H1FY25, Cochlear reiterated that “solid market growth rates to drive cochlear implant unit growth of around 10% in FY25.”</li>
<li>Cochlear is expected to release next-generation cochlear implant in mid-2025. The introduction of the new off-the-ear Nucleus Kanso 3 sound processor is expected to contribute to services revenue from FY26.</li>
</ul>



Cochlear Ltd (COH AU) now expects FY25 underlying net profit to be at the lower end of A$410–430M guidance range due to lower services revenue and higher cloud-related investment.
Despite 5% growth in H1FY25, Cochlear reiterated that “solid market growth rates to drive cochlear implant unit growth of around 10% in FY25.”
Cochlear is expected to release next-generation cochlear implant in mid-2025. The introduction of the new off-the-ear Nucleus Kanso 3 sound processor is expected to contribute to services revenue from FY26.


Cochlear Ltd (COH AU): Negative Reaction Is Overdone; Performance Reversal Is Imminent

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://archive.is/b5mG6" target="_blank" rel="noopener">Reportedly</a>, <a href="https://www.smartkarma.com/entities/australian-clinical-labs-limited" target="_blank" data-smartkarma-citation="entities:36020:1" rel="noopener">Australian Clinical Labs (ACL AU)</a> and <a href="https://www.smartkarma.com/entities/healius-ltd-6d4d947d-ad32-4aea-b2d8-265f5768b55e" target="_blank" data-smartkarma-citation="entities:14208:1" rel="noopener">Healius (HLS AU)</a> may reload a merger. </li>
<li>The 2023 merger of the second and third-largest pathology plays was blocked by the ACCC. Any follow-up merger will similarly be blocked unless the combined entity jettisons certain ops.  </li>
<li>Since the collapse of the merger, Healius has sold its diagnostic business; Crescent Capital has exited ACL; and <a href="https://www.smartkarma.com/entities/capitol-health-ltd" target="_blank" data-smartkarma-citation="entities:14504:1" rel="noopener">Capitol Health (CAJ AU)</a> and <a href="https://www.smartkarma.com/entities/integral-diagnostics-ltd" target="_blank" data-smartkarma-citation="entities:24306:1" rel="noopener">Integral Diagnostics (IDX AU)</a> merged.</li>
</ul>



Reportedly, Australian Clinical Labs (ACL AU) and Healius (HLS AU) may reload a merger. 
The 2023 merger of the second and third-largest pathology plays was blocked by the ACCC. Any follow-up merger will similarly be blocked unless the combined entity jettisons certain ops.  
Since the collapse of the merger, Healius has sold its diagnostic business; Crescent Capital has exited ACL; and Capitol Health (CAJ AU) and Integral Diagnostics (IDX AU) merged.


Australian Clinical Labs (ACL AU) / Healius (HLS AU): Round 2?

Australia

Sonic Healthcare Limited is a medical diagnostics company with operations in Australia, New Zealand, and Europe.  The Company provides a comprehensive range of pathology and diagnostic imaging services to medical practitioners, hospitals and their patients along with providing administrative services and facilities to medical practitioners.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Sonic Healthcare (SHL AU)

Australian Broker Call Extra Edition - Jul 07, 2025

Extra Edition of the Broker Call Report

FNArena

Rudi's View: CBA, Life360, ResMed, Zip & More

Update on changes to and revisions of analysts' Best Ideas and Conviction Calls, as well as Model Portfolio compositions

FNArena

Sonic Healthcare (SHL): Intelligent Pathology

Pathology is an essential healthcare service with mandated growth, but the international network has been developed over decades via dozens of...

Bell Potter

Cochlear Ltd (COH AU): Negative Reaction Is Overdone; Performance Reversal Is Imminent

Cochlear expects FY25 profit to be at the lower end of guidance range, but remains optimistic about maintaining 10% implant volume growth. The...

Tina Banerjee

Australian Clinical Labs (ACL AU) / Healius (HLS AU): Round 2?

After heady days during Covid, demand has tapered, but higher operating costs remain. Consolidation makes sense. Healius is trading below it pre...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Australian Broker Call *Extra* Edition - Jul 07, 2025

Extra Edition of the Broker Call Report

FNArena

Rudi's View: CBA, Life360, ResMed, Zip & More

Update on changes to and revisions of analysts' Best Ideas and Conviction Calls, as well as Model Portfolio compositions

FNArena

Sonic Healthcare (SHL): Intelligent Pathology

Pathology is an essential healthcare service with mandated growth, but the international network has been developed over decades via dozens of...

Bell Potter

Cochlear Ltd (COH AU): Negative Reaction Is Overdone; Performance Reversal Is Imminent

​Cochlear expects FY25 profit to be at the lower end of guidance range, but remains optimistic about maintaining 10% implant volume growth. The...

Tina Banerjee

Australian Clinical Labs (ACL AU) / Healius (HLS AU): Round 2?

After heady days during Covid, demand has tapered, but higher operating costs remain. Consolidation makes sense. Healius is trading below it pre...

David Blennerhassett

Australian Broker Call Extra Edition - Jul 07, 2025

Cochlear expects FY25 profit to be at the lower end of guidance range, but remains optimistic about maintaining 10% implant volume growth. The...