Sirtex slides on earnings miss
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
A lower than expected full year profit is weighing on Sirtex Medical’s (SRX) share price, but the dip is seen as a longer-term buying opportunity by some.
The liver cancer treatment company posted a 15.9% increase in revenue to $100.3 million and a 6.8% uplift in net profit to $18.3 million for the year ended June 30, 2013, compared with consensus forecast of $99.6 million and $20.1 million, respectively.
Sirtex also hasn’t declared a dividend, although that should not surprise as the company tends to only make an announcement on dividends in late September. The market is expecting the company to deliver a 10 cents a share payout.
Shareholders have elected to lock in some profit and sold the stock down 3.5% to $12.55 on the news, but that is not surprising given that Sirtex has rallied 62% over the past year, twice that of the S&P/ASX 300 Health Care Index, and is trading on a relatively high price-earnings of around 39 times based on the results.
However, the portfolio manager from Smallco Investment Manager, Rob Hopkins, told Eureka Report that Sirtex is a good pick for passive long-term investors.
The profit and revenue is tipped to continue to grow strongly in the years ahead, and if Sirtex can get approval for its product to be used early in the cancer treatment process (as opposed to current regulatory approval that only allows it to be used as a treatment of last resort), the stock could be strongly re-rated.
Sirtex is part of the Uncapped 100.
Call 1300 880 160
Start a chat
Schedule a call
