Opinions
Colin Stewart
Hamilton Thorne Ltd
HTL-X
BUY
Oct 26, 2021
He's owned this for a while. Likes it. They make IVF medical supplies globally to clinics and labs, an area which will continue to enjoy strong demand and growth. More and more governments and companies will cover IVF costs, another tailwind. HTL is well-positioned and grows by acquisition, and they face little competition. Not a cheap stock, but has a bright future.
$1.980
Stock price when the opinion was issued
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TOP PICK
A small company that is very unique in the in vitro market. Has great long term growth fundamentals. The reproductive assistance space is set to grow globally. They don’t own the clinics, but they sell the products into clinics. One of the few public companies in the space. (Analysts’ price target is $1.52)
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STRONG BUY
Fertility is a booming industry, growing 10% annually in developed countries. HTL generates solid free cash flow and are making accretive tuck-in acquisitions. They acquire diligently. Eventually will be a take-out candidate by a private equity firm. They have few publicly traded peers in North America, so little competition.
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HOLD
They reported very good results, but the current quarter could be soft because clinics are closed and surgeries are on hold. Their end market is impaired in parts of the US and Europe, but it's temporary. He likes its long-term prospects. Good organic growth, though the stock isn't cheap. Hang onto it, though there may be volatility due to a convertible debenture that may inject a lot of shares on the market.
BUY
Institutional investors keep buying this, so it's held in very well. They're a global player, selling in Europe, Asia and North America, enjoying high margins. HTL has been buying small players in a fragmented industry. They enjoy good organic growth and their recent report was positive. There may be softness in coming quarters due to the lockdown, but this is temporary. The whole sector trades at a high multiple, but he likes this company and its management.
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HOLD
A great industry to invest in the longer term. The fertility industry is booming, growing at 10% per year. It is one of the only companies you can invest in the public equity space in the industry. They are consolidating the space to present a more complete offering to clients. Management is good and makes methodical acquisitions.
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BUY
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Sales and EPS outlook are good. The markets are reacting well to results from last quarter. EBITDA increased by 47% for the year. Organic growth was roughly 20% with $5M added to its cash balance. Management’s outlook is positive for 2022. Demand and growth have returned to pre-pandemic levels. Unlock Premium - Try 5i Free
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