Sweden's Vitrolife Q3 revenue rises on technology segment growth

Overview

• Sweden medical devices and genetic testing firm's Q3 revenue rose 6% in SEK

• Net income and EBITDA increased yr/yr, with Q3 net income at SEK 124 mln

• Company repurchased SEK 246 mln of shares under SEK 500 mln buyback program

Outlook

• Vitrolife did not provide specific guidance for future quarters or the full year in the press release

Result Drivers

• TECHNOLOGIES SALES - Q3 sales in Technologies product group grew 21%, supporting overall revenue growth

• EMEA REGION - EMEA sales rose 11% in Q3, outpacing growth in other regions

• GROSS MARGIN IMPROVEMENT - Gross margin increased to 59.2% from 58.9% in Q3

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for Vitrolife AB is SEK135.00, about 38% above its October 21 closing price of SEK97.80

• The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 23 three months ago

Reuters Recommended Reads

• Oct 22 - Sweden's Arjo Q3 revenue beats estimates, gross margin expands

• Oct 22 - Sweden's XVIVO Q3 revenue beat expectations on thoracic sales

• Oct 21 - Sweden's AddLife beats Q3 net sales expectations

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)