摩根士丹利此前研报指，下调微创医疗2027-2030年的每股盈测5-9%，以反映在持续的定价压力下，对2027-30年的增长和利润率假设较为保守，并相应地将SOTP估值中各业务部门的折让率由10-11%调高至11-13.5%。因此，大摩下调微创医疗目标价14%，由7.4港元降至6.4港元。维持“与大市同步”评级。Minimally Invasive was higher in early trading. As of press release, MEDBOT-B (02252) rose 7.77% to HK$9.85; Minimally Invasive Healthcare (00853) rose 6.41% to HK$6.81.
The Zhitong Finance App learned that minimally invasive was higher in early trading. As of press release, MEDBOT-B (02252) rose 7.77% to HK$9.85; minimally invasive medicine (00853) rose 6.41% to HK$6.81; and minimally invasive brain science (02172) rose 3.7% to HK$10.08.
According to the news, market sources say Otsuka Holdings is considering selling shares in Minimally Invasive Healthcare. People familiar with the matter said that after receiving initial interest from potential investors, the Japanese pharmaceutical company is working with a consultant to evaluate its minority shares. As of June 30, 2024, Otsuka Holdings is the largest shareholder of Minimally Invasive Healthcare, holding 20.87% of its shares.
According to a previous research report by Morgan Stanley, Minimally Invasive Healthcare's 2027-2030 earnings estimate was lowered by 5-9% to reflect the conservative assumptions on growth and profit margins for 2027-30 under continued pricing pressure, and the discount rate for each business unit in the SOTP valuation was raised accordingly from 10-11% to 11-13.5%. As a result, the target price for minimally invasive medical treatment was reduced by 14% from HK$7.4 to HK$6.4. Maintain a “in sync with the market” rating.
