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Latest Forum Topics / Raffles Medical    Last:0.93 --  Post Reply
Raffles Medical
HopeToBeRight
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02-Feb-2023 17:33     
 
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 Alert Admin 		Looking brighters gradually day by day. Today closed at day-high and 52-week high. I will sits back and gambles more when retracement kick in soon :)
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HopeToBeRight
Member
30-Jan-2023 13:46     
 
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 Alert Admin 		Thanks you for the kind respond sir! And wishes you may success to. I am also not a big TA persons. Just drews some lines for me own references. Hope it can moves soon!
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Jiyaji
Senior
29-Jan-2023 18:24     
 
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 Alert Admin 		Thank you for the good insight. A very well drafted post. Please do share more such TA for less informed person like me. Wish you success in your investments. 
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HopeToBeRight
Member
28-Jan-2023 00:20     
 
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 Alert Admin 		Anyones interested in healthcare stock? Recently come across in top volume and make me interested. Below I share some personal views. Please drop any views (similar/opposing are welcame). Also note results releasing on 27 Feb 2023, Monday.

Fundamentals:
Good profitability (large year on year improvement). I expects to continue good perform as operations resume back normal (staffing and patients unrestricted mobility) coincide with China reopening theme. Just nice time to also reap the rewards from its China investments over the last years. More good news for business is  RafflesHospitalShanghai  obtained approval to set up    In-Vitro Fertilisation/Assisted Reproductive Therapy centre  (complement  obstetrics and gynaecology practices,  targeted to serve estimated 40 million women in China). With much better results compare last year, hopefully can also eat more dividends this year.


Insider movement:
On 17 Nov 2022, Global Alpha Capital Management Ltd. (Canadian based discretionary asset manager) increased stake from  8.956% to  9.103% by buying  2,714,900 ordinary shares at average price of S$ 1.36. Nice to see global investment firm buy as they usually do more homework than me before buying.
Owner has also been increasing stake earlier in the year, show me his confidences in company

Technicals:
I am simples TA man. I see breakout of weekly/monthly triangle in chart, rising and positive MACD, increasing OBV+rising prices suggesting accumulation in the last few months. I feels gambling odds are better on the upside in the weeks/months to come.


Have a good days and hope you like reading me.
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Nippon72
Veteran
30-Dec-2022 20:46     
 
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 Alert Admin 		Eventually the results will speak for itself and price will have to follow suit.
I am vested since < $1 price. I am heartened that the owners and mgt are aligned when they up their stakes and perform shares buyback. 
Beside these,  being into 50yo myself this year, I believe in the future of medical & healthcare stocks.
Is an eventuality & cardinal need of any country. Especially ageing ones like ours & japan/china. 

 
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mgrow2013
Member
30-Dec-2022 20:02     
 
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 Alert Admin 		This truth is hurting, sometimes. Vested 😊
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Secret_Squirrel
Elite
27-Dec-2022 05:50     
 
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 Alert Admin 		However, business good doesn' t mean share price will 🚀 🚀

muifan      ( Date: 26-Dec-2022 18:19) Posted:

Tomorrow 🚀 🚀 🚀

Secret_Squirrel      ( Date: 26-Dec-2022 18:04) Posted:

China covid so many cases, clinics and hospital business should be good
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muifan
Supreme
26-Dec-2022 18:19     
 
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 Alert Admin 		Tomorrow 🚀 🚀 🚀

Secret_Squirrel      ( Date: 26-Dec-2022 18:04) Posted:

China covid so many cases, clinics and hospital business should be good.

Sgvale      ( Date: 26-Dec-2022 15:32) Posted:

If got something to offer to China Covid, then can rise. If like Clearbridge or Biolidics nothing to offer to China spread of Covid, how to go up


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Secret_Squirrel
Elite
26-Dec-2022 18:04     
 
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 Alert Admin 		China covid so many cases, clinics and hospital business should be good.

Sgvale      ( Date: 26-Dec-2022 15:32) Posted:

If got something to offer to China Covid, then can rise. If like Clearbridge or Biolidics nothing to offer to China spread of Covid, how to go up ?

Secret_Squirrel      ( Date: 26-Dec-2022 14:53) Posted:

  Got hospital  in China.  I guess this quarter  should be doing well. 


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Sgvale
Supreme
26-Dec-2022 15:32     
 
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 Alert Admin 		If got something to offer to China Covid, then can rise. If like Clearbridge or Biolidics nothing to offer to China spread of Covid, how to go up ?

Secret_Squirrel      ( Date: 26-Dec-2022 14:53) Posted:

  Got hospital  in China.  I guess this quarter  should be doing well. 

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Secret_Squirrel
Elite
26-Dec-2022 14:53     
 
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 Alert Admin 		  Got hospital  in China.  I guess this quarter  should be doing well. 
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Nippon72
Veteran
10-Nov-2022 19:50     
 
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 Alert Admin 		I think audited figures can be trusted else we will always be paranoid whether there is a scam. And when company & CEO bought shares it shows a vote of confidence. As for analysts' glowing report I will take it with a pinch of salts unless they tell me they are also vested. 

So far RMG is performing ok and in the medical industry that I have faith in. It should be resilient. 

Vested. 
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Nippon72
Veteran
10-Nov-2022 19:47     
 
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 Alert Admin 		I think audited figures can be trusted else we will always be paranoid whether there is a scam. And when company & CEO bought shares it shows a vote of confidence. As for analysts' glowing report I will take it with a pinch of salts unless they tell me they are also vested. 

So far RMG is performing ok. Vested. 
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FaceTheFact
Member
10-Nov-2022 17:28     
 
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 Alert Admin 		What' s written here are factual figures, isn' t it? Whether the earnings extend to the future is everyone' s own assessment...and your decision to trade...dyodd!   

Tigerzbeer      ( Date: 31-Oct-2022 14:43) Posted:

Don' t trust these reports from so called branded companies. A friend who worked in the securities told me decades ago. These reports are written by intern or associates being assigned to write. Their experiences are as good as none or a novice....

In short DYODD is better...

superstartup      ( Date: 31-Oct-2022 11:31) Posted:

Bought this counter
Think a safe bet, and waiting for more updates / re-rating from the various brokerage houses
9 mths earning beat whole year consensus estimate
In particular, 3Q earning is very strrong 
DBS TP 1.64 (from 1.63) - This is notwithstanding the recent increase in Risk Free Rate
We have seen companies with strong result but TP cut due to increase in risk free rate
Raffles Med 3Q earnings $38.3m
1H earnings was $60m and price chiong to as high as $1.45 then
The price increase was observed over a few days after 1H result announcement then, likely due to re-rating by the various Analysts
Tomorrow and next few days will get update from CGS-CIMB, MayBank, OCBC, Phillips, RHB, UOB   
 

DBS Equity Picks 31 Dec 2022

Raffles Medical Group: Add 12,000 shares @ $1.27 to Growth

We add this stock in response to its strong 3QFY22 results that saw a 62% y-o-y rise in 3Q profit after tax (PAT) to S$38.3mil. 9MFY22 PAT now stands at S$98.2mil (+57.3% y-o-y) which is close to ours and consensus current FY22 estimates of c.S$100mil. The better results should pin a low to the recent share price pullback from $1.45 high to a $1.20 low.

Our Arguments:
  • Recovery of elective procedures and the return of medical tourism in &ldquo new normal&rdquo .  Raffles Medical stands to benefit from the recovery of elective procedures and the return of medical tourism into Singapore in &ldquo new normal&rdquo , to offset some tapering of COVID-19 related services.
  • Raffles Medical adapts and changes to support the government&rsquo s COVID-19 initiatives.  Raffles Medical, as the largest COVID-19 service provider, will continue to support the government&rsquo s COVID-19 initiatives in the community or at Changi Airport. 
  • FY22F-FY23F earnings may stay elevated despite gestation losses.  Given the company&rsquo s record high FY21 results, we expect earnings to stay elevated, despite China hospitals&rsquo gestation losses, with some pent-up demand coming in from postponed elective procedures and foreign patients.
 

Valuation

We raised our TP to S$1.64 from S$1.63 previously, based on a sum-of-the-parts model. We applied the historical         -0.5SD PE (from 2012) of 26x to FY22F earnings, plus S$0.20 per share for its hospitals in China. 

 

Where we differ?

Street high target price.  We remain the most positive among consensus with a street high target price.  Our FY21F-FY23F earnings estimates are one of the highest vs. the consensus, as we expect earnings should stay elevated, given the recovery of elective procedures and the return of medical tourism, while we await positive contribution from Raffles Hospital Chongqing and the rebound post China lockdown.

 

Key Risks

New variants of COVID-19 pandemic slowing down recovery.  New waves of the COVID-19 pandemic could slow the recovery of private healthcare demand.

 

Higher- and longer-than-expected gestation losses from China hospitals  may drag earnings growth.


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superstartup
Supreme
10-Nov-2022 11:43     
 
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 Alert Admin 		Took profit over here too
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Tigerzbeer
Member
31-Oct-2022 14:43     
 
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 Alert Admin 		Don' t trust these reports from so called branded companies. A friend who worked in the securities told me decades ago. These reports are written by intern or associates being assigned to write. Their experiences are as good as none or a novice....

In short DYODD is better...

superstartup      ( Date: 31-Oct-2022 11:31) Posted:

Bought this counter
Think a safe bet, and waiting for more updates / re-rating from the various brokerage houses
9 mths earning beat whole year consensus estimate
In particular, 3Q earning is very strrong 
DBS TP 1.64 (from 1.63) - This is notwithstanding the recent increase in Risk Free Rate
We have seen companies with strong result but TP cut due to increase in risk free rate
Raffles Med 3Q earnings $38.3m
1H earnings was $60m and price chiong to as high as $1.45 then
The price increase was observed over a few days after 1H result announcement then, likely due to re-rating by the various Analysts
Tomorrow and next few days will get update from CGS-CIMB, MayBank, OCBC, Phillips, RHB, UOB   
 

DBS Equity Picks 31 Dec 2022

Raffles Medical Group: Add 12,000 shares @ $1.27 to Growth

We add this stock in response to its strong 3QFY22 results that saw a 62% y-o-y rise in 3Q profit after tax (PAT) to S$38.3mil. 9MFY22 PAT now stands at S$98.2mil (+57.3% y-o-y) which is close to ours and consensus current FY22 estimates of c.S$100mil. The better results should pin a low to the recent share price pullback from $1.45 high to a $1.20 low.

Our Arguments:
  • Recovery of elective procedures and the return of medical tourism in &ldquo new normal&rdquo .  Raffles Medical stands to benefit from the recovery of elective procedures and the return of medical tourism into Singapore in &ldquo new normal&rdquo , to offset some tapering of COVID-19 related services.
  • Raffles Medical adapts and changes to support the government&rsquo s COVID-19 initiatives.  Raffles Medical, as the largest COVID-19 service provider, will continue to support the government&rsquo s COVID-19 initiatives in the community or at Changi Airport. 
  • FY22F-FY23F earnings may stay elevated despite gestation losses.  Given the company&rsquo s record high FY21 results, we expect earnings to stay elevated, despite China hospitals&rsquo gestation losses, with some pent-up demand coming in from postponed elective procedures and foreign patients.
 

Valuation

We raised our TP to S$1.64 from S$1.63 previously, based on a sum-of-the-parts model. We applied the historical         -0.5SD PE (from 2012) of 26x to FY22F earnings, plus S$0.20 per share for its hospitals in China. 

 

Where we differ?

Street high target price.  We remain the most positive among consensus with a street high target price.  Our FY21F-FY23F earnings estimates are one of the highest vs. the consensus, as we expect earnings should stay elevated, given the recovery of elective procedures and the return of medical tourism, while we await positive contribution from Raffles Hospital Chongqing and the rebound post China lockdown.

 

Key Risks

New variants of COVID-19 pandemic slowing down recovery.  New waves of the COVID-19 pandemic could slow the recovery of private healthcare demand.

 

Higher- and longer-than-expected gestation losses from China hospitals  may drag earnings growth.

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superstartup
Supreme
31-Oct-2022 14:02     
 
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 Alert Admin 		133 no end selling meh?

superstartup      ( Date: 31-Oct-2022 11:31) Posted:

Bought this counter
Think a safe bet, and waiting for more updates / re-rating from the various brokerage houses
9 mths earning beat whole year consensus estimate
In particular, 3Q earning is very strrong 
DBS TP 1.64 (from 1.63) - This is notwithstanding the recent increase in Risk Free Rate
We have seen companies with strong result but TP cut due to increase in risk free rate
Raffles Med 3Q earnings $38.3m
1H earnings was $60m and price chiong to as high as $1.45 then
The price increase was observed over a few days after 1H result announcement then, likely due to re-rating by the various Analysts
Tomorrow and next few days will get update from CGS-CIMB, MayBank, OCBC, Phillips, RHB, UOB   
 

DBS Equity Picks 31 Dec 2022

Raffles Medical Group: Add 12,000 shares @ $1.27 to Growth

We add this stock in response to its strong 3QFY22 results that saw a 62% y-o-y rise in 3Q profit after tax (PAT) to S$38.3mil. 9MFY22 PAT now stands at S$98.2mil (+57.3% y-o-y) which is close to ours and consensus current FY22 estimates of c.S$100mil. The better results should pin a low to the recent share price pullback from $1.45 high to a $1.20 low.

Our Arguments:
  • Recovery of elective procedures and the return of medical tourism in &ldquo new normal&rdquo .  Raffles Medical stands to benefit from the recovery of elective procedures and the return of medical tourism into Singapore in &ldquo new normal&rdquo , to offset some tapering of COVID-19 related services.
  • Raffles Medical adapts and changes to support the government&rsquo s COVID-19 initiatives.  Raffles Medical, as the largest COVID-19 service provider, will continue to support the government&rsquo s COVID-19 initiatives in the community or at Changi Airport. 
  • FY22F-FY23F earnings may stay elevated despite gestation losses.  Given the company&rsquo s record high FY21 results, we expect earnings to stay elevated, despite China hospitals&rsquo gestation losses, with some pent-up demand coming in from postponed elective procedures and foreign patients.
 

Valuation

We raised our TP to S$1.64 from S$1.63 previously, based on a sum-of-the-parts model. We applied the historical         -0.5SD PE (from 2012) of 26x to FY22F earnings, plus S$0.20 per share for its hospitals in China. 

 

Where we differ?

Street high target price.  We remain the most positive among consensus with a street high target price.  Our FY21F-FY23F earnings estimates are one of the highest vs. the consensus, as we expect earnings should stay elevated, given the recovery of elective procedures and the return of medical tourism, while we await positive contribution from Raffles Hospital Chongqing and the rebound post China lockdown.

 

Key Risks

New variants of COVID-19 pandemic slowing down recovery.  New waves of the COVID-19 pandemic could slow the recovery of private healthcare demand.

 

Higher- and longer-than-expected gestation losses from China hospitals  may drag earnings growth.

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superstartup
Supreme
31-Oct-2022 11:31     
 
superstartup About Contact  Quote this Post! Style: Fundamental  
Yells: "Enjoy doing Fundamental Research"
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 Alert Admin 		Bought this counter
Think a safe bet, and waiting for more updates / re-rating from the various brokerage houses
9 mths earning beat whole year consensus estimate
In particular, 3Q earning is very strrong 
DBS TP 1.64 (from 1.63) - This is notwithstanding the recent increase in Risk Free Rate
We have seen companies with strong result but TP cut due to increase in risk free rate
Raffles Med 3Q earnings $38.3m
1H earnings was $60m and price chiong to as high as $1.45 then
The price increase was observed over a few days after 1H result announcement then, likely due to re-rating by the various Analysts
Tomorrow and next few days will get update from CGS-CIMB, MayBank, OCBC, Phillips, RHB, UOB   
 

DBS Equity Picks 31 Dec 2022

Raffles Medical Group: Add 12,000 shares @ $1.27 to Growth

We add this stock in response to its strong 3QFY22 results that saw a 62% y-o-y rise in 3Q profit after tax (PAT) to S$38.3mil. 9MFY22 PAT now stands at S$98.2mil (+57.3% y-o-y) which is close to ours and consensus current FY22 estimates of c.S$100mil. The better results should pin a low to the recent share price pullback from $1.45 high to a $1.20 low.

Our Arguments:
  • Recovery of elective procedures and the return of medical tourism in &ldquo new normal&rdquo .  Raffles Medical stands to benefit from the recovery of elective procedures and the return of medical tourism into Singapore in &ldquo new normal&rdquo , to offset some tapering of COVID-19 related services.
  • Raffles Medical adapts and changes to support the government&rsquo s COVID-19 initiatives.  Raffles Medical, as the largest COVID-19 service provider, will continue to support the government&rsquo s COVID-19 initiatives in the community or at Changi Airport. 
  • FY22F-FY23F earnings may stay elevated despite gestation losses.  Given the company&rsquo s record high FY21 results, we expect earnings to stay elevated, despite China hospitals&rsquo gestation losses, with some pent-up demand coming in from postponed elective procedures and foreign patients.
 

Valuation

We raised our TP to S$1.64 from S$1.63 previously, based on a sum-of-the-parts model. We applied the historical         -0.5SD PE (from 2012) of 26x to FY22F earnings, plus S$0.20 per share for its hospitals in China. 

 

Where we differ?

Street high target price.  We remain the most positive among consensus with a street high target price.  Our FY21F-FY23F earnings estimates are one of the highest vs. the consensus, as we expect earnings should stay elevated, given the recovery of elective procedures and the return of medical tourism, while we await positive contribution from Raffles Hospital Chongqing and the rebound post China lockdown.

 

Key Risks

New variants of COVID-19 pandemic slowing down recovery.  New waves of the COVID-19 pandemic could slow the recovery of private healthcare demand.

 

Higher- and longer-than-expected gestation losses from China hospitals  may drag earnings growth.
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spursfan
Supreme
31-Oct-2022 07:46     
 
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 Alert Admin 		MEDIA RELEASE Q3 2022
Raffles Reports Revenue of S$199.5M and PAT of S$38.3M(+62%)

https://links.sgx.com/1.0.0/corporate-announcements/MM4WTVAZZ0XCON4J/736926_Raffles%20Medical%20Group%20-%20Q3%202022%20Business%20Update%20-%2031%20October%202022.pdf
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Joelton
Supreme
26-Oct-2022 11:50     
 
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 Alert Admin
CGS-CIMB ups target price on Raffles Medical Group amid Covid-19 surge
 
CGS-CIMB has raised its target price for Raffle Medical Group as it expects the company to play a significant role in supporting the government&rsquo s public health efforts, in light of the recent surge in Covid-19 cases.
 
In a report released on Monday (24 Oct), analyst Tay Wee Kuang maintained an &ldquo add&rdquo rating on the counter at a higher target price of S$1.60, up from S$1.50. 
 
The new target price is pegged at 15 times EV/Ebitda (enterprise value/earnings) upon rolling forward the valuation to FY2024. It represents half a standard deviation point below stock&rsquo s five-year historical average to reflect a lower trading band over the past two years.
 
Raffles Medical currently operates Joint Testing and Vaccination Centres (JTVCs) and Connect@Changi, a Community Care Facility (CCF).
 
Citing data from the Ministry of Health (MOH), Tay said it is through these facilities that Raffles Medical will continue to be &ldquo involved in Singapore&rsquo s efforts to manage the Covid-19 pandemic&rdquo . He noted that this is especially given the recent surge in cases which have in turn led to crowds in public hospital emergency departments in recents months. 
 
&ldquo We believe that the recent increase in Covid-19 cases suggests that more patients will be transferred to CCFs, such as Connect@Changi. Raffles Medical will also be extending its JTVC operations by 15 months after being awarded the latest government tender, suggesting vaccination services are likely to continue,&rdquo said Tay.
 
The research house has also increased its revenue projections for Raffles Medical&rsquo s earnings in FY2022-FY2024 by 2 per cent to account for higher expected contributions from Covid-19-related services.
 
&ldquo We also wish to highlight that Raffles Medical noted during H1 2022 that patients at its outpatient clinics have surpassed pre-Covid-19 levels despite lower outpatient specialist visits reported by MOH, suggesting an increase in market share,&rdquo said Tay.
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