In today’s briefing:
- KOSPI200 Index Rebalance Preview: A Busy December Rebalance
- Wuxi Biologics (2269.HK) – Investor Day Brings New Surprises
- UMP Healthcare Webinar Key Takeaways – Consolidation on the Investment Phase
- The Cooper Companies Inc.: Is It The Future Of Vision Correction? – Key Drivers
- Numinus Wellness, Inc. – In the Driver’s Seat for Prospective Rollout of MDMA-AT
KOSPI200 Index Rebalance Preview: A Busy December Rebalance
- Just over a quarter of the way through the review period, we see six changes for the Korea Stock Exchange Kospi 200 Index (KOSPI2 INDEX) at the December rebalance.
- There are a few stocks that are close adds at the current time and a move higher can take them into inclusion zone leading to more deletions.
- While there is little to no short interest on the potential inclusions, short interest on the potential deletions ranges from 4.3-12.2 days of ADV and 0.5-3.5% of free float.
Wuxi Biologics (2269.HK) – Investor Day Brings New Surprises
- A major reason for investors’ disappointment is that the number of new projects in 23H1 were significantly lower-than-expected. The impact of slowdown in financing activity began to show in 23H1.
- Higher revenue growth of non-COVID projects is needed to achieve the performance guidance target.If the management fail to fulfill the commitment to accelerate business recovery in 23H2,they may lose creditability.
- It’s unlikely to receive AD drugs orders this year. The market would react directly to short-term sentiment. Without big catalysts, it’s difficult for WuXi Bio’s stock price to perform well.
UMP Healthcare Webinar Key Takeaways – Consolidation on the Investment Phase
- We held a conference call with the Chief Investment Officer of UMP Healthcare (722 HK), Patrick Cheung, on the 19th of June, 2023.
- The company continues to forge strategic alliances and collaborations, the latest being Hong Kong Adventist Hospital, in addition to the recent partnerships with Pedder Health/Human Health Holdings (1410 HK).
- The stock represents an excellent opportunity when trading at 6.6x PE FY23E with 44% of the market capitalization in cash and a 7.7% dividend yield on our numbers (50% payout).
The Cooper Companies Inc.: Is It The Future Of Vision Correction? – Key Drivers
- Cooper delivered a solid result and managed an all-around beat in the last quarter.
- CooperSurgical also reported high revenues and achieved ten consecutive quarters of double-digit organic revenue growth, led by their fertility business.
- In addition to the strong financial performance, CooperVision’s new product launches, expanded product ranges, and market-leading flexibility contributed to the positive results.
Numinus Wellness, Inc. – In the Driver’s Seat for Prospective Rollout of MDMA-AT
- Numinus extends collaboration with MAPS. Last week, Numinus announced a partnership with the Multidisciplinary Association for Psychedelic Studies (MAPS) to support psychedelic experiential opportunities for practitioners as part of a clinical study, with permission to use MAPS’ protocol for the study.
- Numinus has submitted a clinical trial application (CTA) to Health Canada, which, if approved, will make the MDMA-AT experiential opportunity for practitioners available only through Numinus.
- This partnership is not the first collaboration between Numinus and MAPS and highlights the strong relationship and trust between the two.
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