Stock Name: Biosensors
Company Name: BIOSENSORS INT'L GROUP, LTD.
Research House: OCBC
OCBC said that Biosensors continued improving its gross and operating margins, with the former rising to 79.3% in the fourth quarter from 77.7% in the previous three months.
Company Name: BIOSENSORS INT'L GROUP, LTD.
Research House: OCBC
OCBC Investment Research has raised its target price for Singapore-listed medical technology firm Biosensors International (BIOS.SI) to $1.55 from $1.48 and kept its rating at buy.
Biosensors reported strong net profit in the fourth quarter, which doubled to US$18.2 million ($22.5 million) from US$9.1 million a year ago.
Biosensors reported strong net profit in the fourth quarter, which doubled to US$18.2 million ($22.5 million) from US$9.1 million a year ago.
OCBC said that Biosensors continued improving its gross and operating margins, with the former rising to 79.3% in the fourth quarter from 77.7% in the previous three months.
“Biosensors’ drug eluting stent sales are growing faster than the overall market, which implies that it is capturing market share away from its competitors,” OCBC said in a report.
The brokerage said Biosensors’ products have room to grow and it expects the firm to step up efforts to penetrate key markets in which it is not currently operating.
At 9:22 a.m., shares of Biosensors were 1.5% higher at $1.34. They have surged 18.6% since the start of the year.
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