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Technology Stocks

Quest Diagnosis Moving to Normal: Result of Less Demand of COVID-19 PCR

Our top- and bottom-line projections for full-year 2021 remain bounded by management’s 2021 outlook, and the slight adjustments we’ve made to reflect strong cost containment were largely offset by our incorporation of a rise in the U.S. corporate tax rate starting in 2022.

In the absolute, Quest’s second-quarter results look impressive, with revenue up 40% and operating margin at 21% (compared with 16% in the year-ago period). Nonetheless, Quest’s second quarter demonstrated slower growth than seen in the last three quarters as vaccinations have rolled out across the U.S.

Fortunately, as COVID-19 tests wane, the resumption of growth in non pandemic tests has been strong. This has resulted in mix shift gradually driving quarterly gross margin down to 39% versus 43% in the second half of 2020. Profitability in the second quarter remains significantly higher than Quest’s historical levels.

Company’s Future Outlook

It is expected that the demand for COVID-19 molecular tests will settle into a lower, but ongoing level into 2022, considering the significant level of Americans who have not yet been fully vaccinated and the rise of new, more contagious variants. Management indicated that COVID-19 PCR test volume has recently stabilized and begun to grow slightly as viral spread and hot spots have grown. It is further predicted that the margin erosion as volume further shifts toward non pandemic tests.

Company Profile

Quest Diagnostics is a leading independent provider of diagnostic testing, information, and services in the U.S. The company generates over 95% of its revenue through clinical testing, anatomic pathology, esoteric testing, and substance abuse testing with specimens collected at its national network of nearly 2,300 patient service centers, as well as multiple doctors’ offices and hospitals. The firm also runs a diagnostic solutions segment that provides clinical trials testing, risk assessment services, and information technology solutions.

(Source: Morningstar)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

APL Provides Update on Conditional Tender Offer (CTO)

The company’s main discount management approach is the CTO. If the average daily discount over the 12-month period ending October 18, 2021 is greater than 7.5 percent, the CTO is triggered. Since the beginning of the term through 14 May 2021, the average daily discount has been 11.5percent.

The CTO allows shareholders to sell APL shares to the company via an off-market buy-back at a price equal to the current post-tax NTA less 2% if it is triggered. A maximum of 25% of the company’s issued capital will be repurchased.

Since the average daily discount stays above the discount threshold of 7.5 percent, the CTO will be triggered until the discount narrows significantly in the future months. There may be an arbitrage opportunity for shareholders depending on where the share price is trading at the end of the time.

NTA before tax was $1.248. The current performance was marked at 21% approximately in June 2021. The present dividend of APL for the year 2021 is 2%.

Company Profile

APL was founded in 2015 by Jacob Mitchell, formerly Deputy Chief Investment Officer of Platinum Asset Management and majority owned by its investment team. Antipodes Global Investment Company (ASX: APL) is an Australian-LIC that offers shareholders exposure to a long-short global equity portfolio with a currency overlay. By purchasing exceptional and undervalued firms, the Company aims to outperform global stock markets while also safeguarding our stockholders from risk and volatility.

(Source: fool.com.au)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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Australian Brokers Call 23 July 2021

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LICs LICs

Pengana International Equities Limited (PIA) Appoints New Manager

New Jersey  based, Harding Loevner LP is appointed as a new investment team. Harding Loevner is a global equity manager with over the staff of 100 employees and over US$84b Assets .

PIA will use the Harding Loevner global equity strategy with the inclusion of PIA’s ethical filters as a result of the appointment.

Currently, Share price of Pengana International Equities Limited (PIA) is $1.360. On 16th July Net Tangible Assets for Pre – Tax is $1.491 and Performance of Pegana International Equities Limited is 14.30%.

Harding Loevner’s investment strategy, as per PIA, supports the company’s goal of providing shareholders with capital growth through holdings in an ethically screened and actively managed portfolio of worldwide firms, as well as regular, predictable, and fully franked dividends.

Currently, IIR Ratings is ‘on watch ’ for PIA and will be full evaluation once it is reviewed for new investment team and strategy is completed.

Company Profile

Pengana International Equities Ltd, formerly Hunter Hall Global Value Limited, is a listed investment company (LIC). The Company’s investment objective is to generate positive absolute returns in excess of the investment portfolio’s benchmark over an investment horizon of approximately five years. The Company operates through investment in securities segment. The Company’s portfolio is invested in equities. The Company invests in a range of sectors, such as consumer staples, financials, healthcare, industrials, information technology, materials, telecom services and consumer discretionary. The Company operates through various countries, such as Italy, Brazil, Australia, Japan, South Korea, the United Kingdom and the United States. The Company gives investors easy access to a portfolio of global equities, including a strategic allocation to Australian equities. The Company’s investment manager is Hunter Hall Investment Management Limited.

(Source: FN Arena )

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

Ophir High Conviction Fund Striking the Benchmark

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The fact that both founders have all of their liquid investments here is the most appealing aspect. The share price of this ASX LIC has increased by 21.69% for the financial year 2020. It has a price-to-earnings ratio of 11.08, which is slightly more than its NTA per share of $2.98 as of the P.Y. 2020.

The benchmark for the Ophir LIC portfolio is the S&P/ASX Mid Small Index (ASX: AXMSA). The LIC grew at a rate of 12.7 percent in FY20, compared to a benchmark growth rate of -5.3 percent.

The annualized return since inception (net of fees) is 20.2% on 22 July 2021.

The NAV Performance reported at $3.24 per unit and the Current Unit Price is $3.77 as at 30 June 2021. It grew by 24.7% for the financial year 2021 with market capital of $806 million

Company Profile

The Ophir High Conviction Fund is an ASX-listed small and mid-cap Australian stocks fund with a long only strategy. Ophir is a boutique Australian fund manager established in 2012 by its founders and senior portfolio managers Andrew Mitchell and Steven Ng. The Fund typically invests in a concentrated portfolio of 15-30 non-S&P/ASX 50 companies. The Fund trades on the ASX under the ticker symbol ‘OPH’ as a LIC. The Fund focuses on identifying high-quality businesses with structural development possibilities using Ophir’s thorough fundamental, bottom-up research process.

(Source: fool.com.au)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

MFF Capital with Low Dividend Yield from 5.5% to 3%

With some of its current assets, long-term performance may be maintained. Visa, MasterCard, Home Depot, CVS Health, Facebook, Berkshire Hathaway, Microsoft, CK Hutchison, Flutter Entertainment, L’Oreal, and JP Morgan Chase are among the companies it owns with a market capitalization of more than 1%.

CMC claims to have produced total shareholder returns (TSR) of 17.5% per annum on average over the last decade, making it one of the best-performing LICs.

MFF Capital’s lower costs are another reason to admire it, aside from the fact that it invests in exceptional companies. Its fees are set, so as it grows in size, it will cost less as a percentage of assets.

MFF Capital’s half-yearly dividend will be increased to 5% per share, according to the board of directors. At today’s MFF Capital share price, a 10% yearly dividend would offer a dividend yield of 5.5%. Recently the company’s dividend policy, effective with the final Dividend for the Financial Year 2020, is 3% for half yearly payouts per ordinary shares.

Currently, the dividend yield is marked approximately around 3%. Its approximate weekly NTA per share was $3.397 (pre-tax) and $2.888 (post-tax) as on July, 2021.

Company Profile

MFF Capital Investments Limited (ASX Code: MFF) is an ASX-listed investment firm with a minimum of 20 stock exchange-listed international and Australian companies. MFF seeks to build a portfolio of firms with appealing business features (“Quality”) that are discounted compared to their intrinsic values (“Value”). Additionally it acts to protect the shareholders interest by minimizing the risk of permanent capital loss.

(Source: fool.com.au)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

Categories
LICs LICs

BTI Raises $4m from Share Purchase Plan

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On May 2021, Net Tangible Asset per Share of per Tax is $1.53 and Net Tangible Assets per Share of post Share is $1.37.

The share purchase plan for Bailador Technology Investments ((BTI)) ended on May 18th. BTI received $4 million in applications from eligible stockholders.

The SPP was launched in April as a follow-up to a $20 million institutional placement, with shares in the SPP being offered at the same price as the institutional placement.

The funds will be utilised to fund a pipeline of investments that the Manager believes will provide investors with good value.

Company Profile

Bailador Technology Investments is a growth capital fund focused on the information technology sector, actively managed by an experienced team with demonstrated sector expertise.  Bailador provides exposure to a portfolio of information technology companies with global addressable markets. We invest in private technology companies at the expansion stage.

(Source: FN Arena)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.