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Well what a difference a few days make - lots of big buys at near 70p over last couple of days, then someone (II presumably?) sells at 69.5p to match buys.
Buyers dry up today, so market makers drop bid hard to 64p and some (presumably PIs) sh*t their pants and let the MMs steal their valuable shares off them at below the placing price of 65p.
The madness of markets!!
200,000 shares just bought / sold at 68p after close at 1640 (not UT). I hope that the big seller is out now - Premier Miton top slicing??????
I might be wrong, but it looks that there is a II seller at 69.5p - buyers paying just below 70p are matched by late declared sellers over last couple of days. Be nice when these are cleared up.
Regardless as you say, there's some chunky buys
Rich
Into the close as well....
Cheers - here's a direct link:
Https://www.proactiveinvestors.co.uk/companies/news/931100/inspiration-healthcare-group-says-maiden-dividend-is-due-to--company-reaching-its-maturity--931100.html
Good to see the CEO emphasising the organic growth - i.e the ventilator sales were simply a very nice bonus - and that the maiden dividend is sustainable from the core business. The outlook is also extremely confident.
tinyurl.com/yyjpd9lg
Neil Campbell presents well enough and comes across OK. Sounds an interesting company!
Here's Investor's Champion's verdict on the reults - "good value"...
"Inspiration Health: inspiring results
Global medical device company, Inspiration Healthcare Group (LON: IHC), announced excellent interim results for the six months ended 31 July 2020 as it benefited from the NHS’ rapid requirement for ventilators.
Group revenue rose 77% to £14.2m and was 25% higher excluding the impact of acquisitions.
Adjusted operating profit was up 122% to £1.1m with the net operating cash inflow £2.2m helping to lift period end cash position to £5.2m, which supports a maiden interim dividend
The Group sourced over 500 adult ventilators delivering £7.3m of 'one time' revenue, of which £2.9m was in the first half year.
The big news at the end of the period was the acquisition of S.L.E for a total consideration of £18.0m. S.L.E. is a leader in the design and manufacture of ventilators for neonatal intensive care, with management hoping it is a major step on their journey to become a world leader in Neonatal Intensive Care.
Management now expects full year results to materially exceed market expectations.
House broker forecasts for the full year ending January 2022, including a full year from S.L.E, are for revenue of £40.6m (+15%), and earnings per share of 4.7p. At the current share price of 69p this results in a 1 year earnings multiple of only 14.7x – good value compared to many others!
The shares rose 11% on the news lifting the market capitalisation to c£47m."
Nice big mention in this morning's market report in the Daily Mail:
https://www.thisismoney.co.uk/money/markets/article-8812545/MARKET-REPORT-Virgin-Money-soars-7-400-staff-face-axe.html
"Inspiration Healthcare Group was cheered by investors for declaring its first dividend.
The move came after the company, which has been supplying ventilators to the NHS during the Covid-19 crisis, said revenues had jumped from £8.1million to £14.2million in the six months to July 31.
Its profits also rose from £483,000 to £1.1million during the period.
Inspiration declared an initial divi of 0.2p per share – worth £136,000 overall – for the first half, payable on December 29. Shares climbed by 4 per cent, or 2.5p, to 64.5p."
The 62p trades were "buys" in my opinion. Right down the middle between bid and ask - this smacks of institute buying at a fixed price.
Today there seemed to be quite a lot of 10,000 share blocks sold - this is likely to be a Fund, selling into the price rise.
I can't see any fund selling though below 65p which was the fundraiser price to buy LSE Ltd.
Hoping that the 10% traders will be out now for a while and fresh money will buy into IHC on today's news - particularly if we get some broker upgrades or coverage in financial press.
Sorry just realised they were from yesterday...
The sells at 62p are below the recent placing price, so if it is Miton they are not selling for a quick profit.
Is how low will they go, are they looking to sell all their shares and will another insti buy them from them sooner than later?
Plenty happening with the company so I guess volume will pick up sooner than later.
What a great time to be building a stake in this company. Worth a lot more basked on the RNS today and more to come. Miton is really giving them away here, I hope we get an updated holding RNS to confirm they have been selling today.
Buying opportunity created presumably by Miton taking some profit and selling into the rise
I can't believe that people are having their pants pulled down and taking 65p for these shares after this mornings update - crazy!
Cenkos have increased this year's forecast to diluted EPS of 4.9p, with £5m net cash at the year end.
They also state that there's between 30% and 65% upside to the overnight share price based on the usual multiples, so the high end would see the share price up to 102p.
They conclude:
"Investment thesis – Organic growth and the transformational acquisition of SLE is set to more than double Inspiration Healthcare’s revenues and adjusted EBITDA from FY20A to FY22E. We believe such growth is fundamentally attractive but note our FY22E forecasts highlight the ‘true’ market valuation of Inspiration Healthcare shares pointing to a significant undervaluation in our opinion. We believe the shares should be trading closer to 90p in the near term and reiterate our Buy recommendation."
Yes , I read that twice. Very positive - market should like it
Lovely stuff :o))
"we expect to materially exceed market expectations in the full year"
and there's much confidence for 2021 too in definitively saying IHC "will maintain momentum into next year".
IHC have £5m net cash to continue growth, against a £42m m/cap.
The transformational SLE acquisition "has already shown potential to deliver more opportunities than originally anticipated".
And there's FirstBreath and Project Wave to further accelerate growth.
Excellent interims announced. Maiden dividend and the statement "Expect to materially exceed market expectations for the current financial year". A great future for this company.
Thanks for sharing your honest opinions of the company. I like the company and it appears progressive and well run. I am undecided whether to invest however. I’ll certainly be keeping the share on my radar and see how the share price reacts, I wish you luck.
Agree with Rich62 comments -company has an interesting future. Premier Miton Group was the largest holder after adding in size to their holding during the placing at 65p in July. Since then it has seemingly been a seller around that price or lower. Why? It has probably been surpassed as the largest holder by BGF Investment Management. It appears to me that uncertainty as to Premier Miton Groups Intentions has been restraining the present share price progress. Clarification would be helpful!
IHC is a profitable, growing company selling medical equipment during pandemic crisis!
Share price bounced up a bit when they got NHS contract to sell ventillators (£5m one off contract this year), but in essence this is an investment, not a trading share.
If you look at the trade update RNS from 11/8/20 for the HY, revenue up 30%.
So far this increase hasn't been factored into the share price...……
Since HY, IHC have bought out SLE Ltd, a specialist ventillator seller - again profitable and no debt. To do this IHC raised money by fundraiser at 65p.
IHC sells items for critical care, operating theatre supplies and home healthcare. Also specialises in neo natal baby support - obviously this is non discretionary spending.
Has valuable patent in US and developing equipment, with 1/2 costs funded by EU
I'm a sizeable holder here and am looking for 100p plus by early next year when FY to end Jan 2021 results are released.
Buy at 62.5p today, hold 6 months for 92% gain potential
Good luck in whatever you choose to invest in!
Rich
Check out the trade update for HY on 11/8/20 = revenue up 30% v LY - share price not moved despite this = OPPORTUNITY
Since then raised funds at 65p to purchase SLE Ltd, seller of ventillators etc.
£7m sales of ventillators (of which £5m from IHC as a one off additional revenue this year)
IHC have valuable support contract with NHS on ventillator use
Both companies profitable and debt free
Valuable project Wave patent owned in USA and trials ongoing in UK with half cost being funded by EU
Selling medical equipment during a pandemic
Most IHC equipment is for neo natal babies - non discretionary spending.
You can buy at 62.5p today
Good luck Rich