Carl Zeiss Meditec

In the end, you can only hope that you don't regret it. European shares in the summer sale.

Today I bought the last tranche of Carl Zeiss Meditec $AFX (-4,37%) today. The reason is of course that I am still convinced of the company, but nobody can say how long it will be before the share comes back to life.

It could probably go down even further, but I have decided not to buy any more from now on as the position is large enough and otherwise my risk management will no longer work.

Overall, I have increased my position size from around 1% to just over 3%, which already represents a clear commitment to a German company, which is known to be particularly volatile.

The same applies to L'Oreal $OR (+1,38%) here, too, I have finished buying with a buy-in of €365 and have reached a position size that is already approaching the 4% portfolio weighting. The shares will probably continue to fall for the time being, which I will simply have to hold on to.

I would now rather concentrate on other opportunities such as Thermo Fisher $TMO (+1,71%) where I have already doubled down this month. Here, however, I can well imagine buying significantly more if prices fall.

It cannot be ruled out that, if the market as a whole weakens, LVMH $MC (-1,36%) and $ASML (+3,19%) a first purchase could take place. With the four stocks already mentioned here (+ $NOVO B (-2,54%) ) mentioned here, I believe that the potential of Western European equities has already been fully exhausted.

It's just a difficult case. Europe is currently more attractive than ever before compared to the hot American market. Either you can seize the opportunity of the decade NOW and bet on a recovery of the European economy, then the champagne corks will pop here in two years' time. Or there will be a complete implosion of the European economy (and then the double-digit losses in the portfolio will be the least of our problems)

Reallocation in the portfolio:

Out went $AFX (-4,37%)

New in $ASML (+3,19%)

The decision was not easy, as I am still convinced of Meditec, but unfortunately the market simply sees things differently at the moment.

I see more upside for ASML as a shovel seller and more downside for Meditec with the possible tariff war between USA - Europe - China ( Asia accounts for a third of sales in 2023 according to Trading View )

Meditec remains on the watch while I wait for the quarterly figures on 11.12

Analyst updates, 04.11.

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- BERENBERG raises the target price for SHELL from GBP 31 to GBP 31.50. Buy. | $SHEL (+1,41%)

- BERENBERG raises the price target for MTU from EUR 270 to EUR 350. Buy. | $MTX (+1,36%)

- BRYAN GARNIER raises the price target for HELLOFRESH from EUR 8.50 to EUR 10. Neutral. | $HFG (-5,04%)

- DEUTSCHE BANK RESEARCH raises the price target for SCOUT24 from EUR 84 to EUR 92. Buy. | $G24 (-0,06%)

- DEUTSCHE BANK RESEARCH raises the price target for SANTANDER from EUR 5.75 to EUR 5.80. Buy. | $SAN (+0,23%)

- RBC raises the target price for NEXT PLC from GBP 105 to GBP 108. Sector Perform. | $NXT

- UBS raises the price target for CHEVRON from USD 192 to USD 194. Buy. | $CVX (+0,88%)

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- UBS lowers the price target for BERKSHIRE HATHAWAY from USD 806.724 to USD 796.021. Buy. | $BRK.B (+1,12%)

- CITIGROUP lowers the price target for STMICRO from EUR 36 to EUR 30. Buy. | $STMPA (+0,58%)

- JPMORGAN lowers the price target for ASM INTERNATIONAL from EUR 806 to EUR 716. Overweight. | $ASM (+1,39%)

- RBC downgrades CARL ZEISS MEDITEC from Outperform to Sector-Perform and lowers target price from EUR 85 to EUR 70. | $AFX (-4,37%)

- WARBURG RESEARCH lowers the price target for KION from EUR 65 to EUR 58. Buy. | $KGX (-2,89%)

- ODDO BHF downgrades JENOPTIK from Neutral to Outperform and lowers target price from EUR 32 to EUR 30. | $JEN (+0%)

- ODDO BHF lowers the price target for AIXTRON from EUR 22 to EUR 21. Outperform. | $AIXA (-2,94%)

- ODDO BHF lowers the price target for FIELMANN from EUR 45.70 to EUR 44.60. Neutral. | $FIE (-0,63%)

- HAUCK AUFHÄUSER IB lowers the price target for KNORR-BREMSE from 65.50 EUR to 63.60 EUR. Sell. | $KBX (+0,73%)

- GOLDMAN downgrades STANDARD CHARTERED to Neutral. Target price GBP 9.37. | $STAN (+1,55%)

- GOLDMAN lowers the price target for GENERALI from EUR 31.50 to EUR 30.50. Buy. | $G (+0,6%)

- GOLDMAN lowers the price target for PHILIPS from EUR 35 to EUR 32. Buy. | $PHIA (+0,84%)

Analyst updates, 29.10. 👇🏼

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• JEFFERIES raises the price target for SAP $SAP (+0,95%) from EUR 230 to EUR 255. Buy.
• DEUTSCHE BANK RESEARCH raises the price target for DEUTSCHE TELEKOM $DTE (+0,38%) from EUR 33 to EUR 39. Buy.
• ODDO BHF raises the target price for ALLIANZ
  SE
  $ALV (+1,84%) from EUR 288 to EUR 324. Outperform.
• ODDO BHF raises the price target for DWS
  $DWS (-0,1%) from EUR 38 to EUR 39. Neutral.
• METZLER raises the price target for LUFTHANSA $LHA (-1,42%) from EUR 5.70 to EUR 6.40. Hold.
• METZLER raises the price target for NEMETSCHEK
  $NEM (-1,17%) from EUR 89 to EUR 91. Hold.
• METZLER raises the price target for FRIEDRICH
  VORWERK $VH2 (-0,98%) from EUR 29.20 to EUR 38. Buy.
• GOLDMAN raises the price target for SYMRISE $SY1 (+0,82%) from EUR 127 to EUR 131. Neutral.

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• BOFA lowers the price target for MUNICH
  RE
  $MUV2 (+1,94%) from EUR 550 to EUR 535. Buy.
• WARBURG RESEARCH lowers the price target for WACKER
  CHEMICALS $WCH (-1,14%) from EUR 136 to EUR 133. Buy.
• WARBURG RESEARCH downgrades STEICO
  $ST5 (-0,52%) from Buy to Hold and lowers target price from EUR 42 to EUR 29.
• METZLER lowers the price target for SALZGITTER $SZG (-1,9%) from EUR 17 to EUR 15.50. Hold.
• DEUTSCHE BANK RESEARCH lowers the price target for SGL
  CARBON $SGL (-2%) from EUR 10.80 to EUR 10.60. Buy.
• LBBW downgrades PHILIPS $PHIA (+0,84%) from Buy to Hold and lowers target price from EUR 30 to EUR 26.
• GOLDMAN downgrades ABB
  $ABBNY (+0,98%) from Buy to Neutral. Target price CHF 52.
• UBS lowers the price target for CARL ZEISS MEDITEC $AFX (-4,37%) from EUR 71 to EUR 65. Neutral.
• JPMORGAN lowers the price target for STMICRO
  $STMPA (+0,58%) from EUR 42 to EUR 35. Overweight.

$AFX (-4,37%) New partnership and -6%?

Or what news caused this?

15.10.2024

Pre-close calls at Porsche and VW + Carl Zeiss with new partnership + Share placement weighs on Deutsche Bank after the close + New quarterly figures start today + SHARES IN THE FOCUS: Freenet at high since 2018 and optimism ahead of quarterly figures

Porsche AG $P911 (-2,39%) on the other hand, lost 2.0 percent. A pre-close call by the car manufacturer did not go down well with investors. Also VW $VOW (-1,62%) also fell by 0.5 percent. The car manufacturer also organized a pre-close call on Monday. However, no details were known by the close of trading. In addition to weak sales in China, the value of shareholdings is also under scrutiny: In the previous week, analysts at Baader had reduced the valuation of the stake in NorthVolt, in which Volkswagen holds a 20 percent stake, from 10 billion euros to zero.

Carl Zeiss $AFX (-4,37%) is entering into a partnership with Hyundai Mobis to develop transparent displays in windscreens. Mass production is due to start in five years and could raise safety standards in vehicles

The shares of Deutsche Bank $DBK (+0,74%) came under pressure in after-hours trading on Monday. They recently lost around 1.2 percent to 16.15 euros on the Tradegate trading platform. As reported by the Bloomberg news agency, Deutsche Bank is planning to place 16 million of its own shares at a price of 16.01 euros. Such a share placement dilutes the shares of existing shareholders. The bank's shares rose by almost twelve percent last month.

The shares of Freenet $FNTN (+0,14%) rose to their highest level since March 2018 on Monday. The shares of the mobile and TV provider recently rose by 1.3% to €27.48, making them one of the strongest stocks in the MDax mid-cap index. They also broke away even more clearly from the 21-day line as an indicator of the short-term trend, which they had already left behind last week. In a study at the beginning of the week, Warburg analyst Simon Stippig takes an optimistic view of the upcoming figures for the third quarter. Above all, information on Freenet's medium-term ambitions could become a price driver, he wrote. The dividend yield with the potential for additional growth from the mobile provider's television business is attractive, he said.

Tuesday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Vinci EUR 1.05

AbbVie USD 1.55

Quarterly figures / company dates USA / Asia

11:55 Unitedhealth quarterly figures

12:25 Johnson & Johnson quarterly figures

12:45 Bank of America quarterly figures

13:25 Goldman Sachs quarterly figures

14:00 Citigroup quarterly figures

22:05 United Airlines quarterly figures

23:30 Rio Tinto plc Operation Report 3Q

Quarterly figures / Company dates Europe

07:00 Docmorris Trading Update 3Q | Ericsson Quarterly Figures | Sulzer Order Intake

17:45 LVMH quarterly figures

19:00 Telekom Austria quarterly figuresn

economic data

• 08:00 UK: Labor market data September Unemployment benefit recipients Unemployment rate 3 months (ILO) PROGNOSE: 4.1% PREVIOUS: 4.1%
• 11:00 EU: Industrial Production August Eurozone FORECAST: +1.6% yoy/-1.2% yoy previously: -0.3% yoy/-2.2% yoy
• 11:00 DE: ZEW Economic Sentiment Index October Forecast: 9.0 points previous: 3.6 points Economic situation Forecast: -84.3 points previous: -84.5 points
• 14:30 US: Empire State Manufacturing Index October FORECAST: 0.5 previous: 11.5

Despite the loss on the $MA (+1,13%) trade, more than satisfactory with the KO bills.

In addition $AFX (-4,37%) which seems to have finally bottomed out.

Greetings to all chart technicians $AFX (-4,37%)
currently in an uptrend since last Friday but fails at the important mark below 63€

I am actually a fundi for me the share is currently undervalued anyway and will rise again in the long term. How do you see it at the moment? Are these important signs of a short-term recovery that speak in favor of a BUY? Or are they just the usual price fluctuations and we have not yet overcome the lows?

As I see it, as an absolute layman, we are in a corridor between around €55 and €65. We can't fall below €55 so that we don't go any further downhill and from €65 it's exciting that the way up is clear. Is that more or less correct?

This morning I had thought about $AFX (-4,37%) this morning. As I had set €55 as the price alert.

Fortunately, I hesitated before the two reports.

I don't pay much attention to analysts' opinions, but they did put me off investing in the near future:

JPMorgan warns against $AFX (-4,37%) Carl Zeiss Meditech

The US bank JPMorgan (JPM) has left its rating for Carl Zeiss Meditech at "Underweight" with a target price of 56 euros.

The shares of the medical technology group Carl Zeiss Meditec are also on "Negative Catalyst Watch" due to the skepticism surrounding the quarterly report in mid-December. The biggest concern remains the outlook for the 2025 financial year, wrote analyst David Adlington in an industry commentary published on Friday. The operating earnings consensus still seems far too optimistic to him. Adlington himself is 12 percent below this.

Goldman lowers target for Carl Zeiss Meditec to 54 euros

The US investment bank Goldman Sachs has lowered its price target for Carl Zeiss Meditec from 63 to 54 euros and left its rating at "Sell". Industry data point to a rather meagre business with refractive lasers in China, wrote analyst Richard Felton in his commentary on Friday. He cut his estimates and pointed out that he is well below the market consensus.

Source: Finance.net

👁️ Carl Zeiss Meditec AG: The share that catches the eye 🔍

Carl Zeiss Meditec AG is a leading medical technology company specializing in the development and manufacture of innovative products and solutions for ophthalmology and microsurgery. The company is headquartered in Jena, Germany.

Company presentation

Carl Zeiss Meditec AG offers a comprehensive portfolio of products for the diagnosis and treatment of eye diseases and for visualization in minimally invasive surgical procedures. This includes neurosurgery, ENT medicine, spinal surgery and dentistry.

Historical development

Founded in 2002, Carl Zeiss Meditec AG is part of the renowned ZEISS Group, which has a long tradition in optics. Since its foundation, the company has developed into one of the world's leading medical technology companies.

Business model and core competencies

Carl Zeiss Meditec AG operates mainly in two segments:

1. ophthalmic devices: This segment comprises products for ophthalmology, including surgical ophthalmology.

2. microsurgery: Here the company offers advanced solutions for visualization in minimally invasive surgical procedures.

The company is characterized by its core competencies in the development of innovative optical and digital technologies for medical applications.

Future prospects and strategic initiatives

Carl Zeiss Meditec AG is committed to continuous innovation and the expansion of its product portfolio. The company invests heavily in research and development in order to integrate new technologies such as artificial intelligence and digital solutions.

Market position and competition

As one of the leading providers in its market segments, the company competes $AFX (-4,37%) with $7733 (-0,05%) , $ALC (+0,96%) and $MDT (+0,84%) ,
other major medical technology companies in the fields of ophthalmology and microsurgery. They are also major players in the field of medical technology, each with different focuses and strengths.

Total Addressable Market (TAM)

The addressable market for Carl Zeiss Meditec AG comprises the global market for ophthalmic and microsurgical devices and solutions. In view of the increasing ageing of the world's population and the rising demand for medical care, this market is expected to grow further in the coming years.

Share performance

The Carl Zeiss Meditec AG share is traded on the Frankfurt Stock Exchange. As at September 12, 2024, the share price was EUR 57.55, which corresponds to a TR of around minus 32.21% since the beginning of the year. The dividend yield was most recently 1.87%.

Since the IPO on March 22, 2000, the TR has been a sad 197.24%.

Main shareholder

The main shareholder of Carl Zeiss Meditec AG is the Carl Zeiss Foundation, which holds 59.14% of the company shares. This corresponds to 52,893,270 shares with a value of around EUR 3.9 billion. The remaining 41% of the shares are in free float.

Development

Although a comparison with the larger medical technology providers may be misleading, Carl Zeiss Meditec AG is particularly noteworthy in terms of sales growth. The company may be smaller than its larger competitors, but it is among the top performers in terms of annual growth rates.

When analyzing sales by country, it becomes clear that the risk in Asia is considerable, particularly due to the uncertainties in China. While China can offer sales potential in the short term, there is a risk that these sales will either remain protected due to a lack of imitation or, conversely, be displaced by imitators, which could lead to a decline in the market in the long term.

The focus should therefore be on increasing sales in the USA. The American markets offer a more stable and often less risky source of revenue, which is crucial for a long-term strategy.

An analysis of sales by segment shows that the majority of sales come from ophthalmology products, which are around three times as large as sales from microsurgery products. Nevertheless, microsurgery products are more profitable in terms of gross profit. This indicates that, despite the higher sales volume in the ophthalmology segment, microsurgery products are more profitable

Looking at growth rates, Carl Zeiss Meditec AG is also performing strongly but is in decline. Despite a previously high growth rate, the trend is declining, which indicates challenges.

Carl Zeiss Meditec AG's gross margin is the lowest in comparison. However, the actual margin could be above 60% if the impact of the lower shareholding is taken into account and included in the calculation. With this adjustment, the company could come close to the top positions compared to its peers.

The net profit margin of Carl Zeiss Meditec AG actually decreases, but remains competitive compared to its peers. However, it would be desirable if the company could return to its previous higher margins in order to further strengthen its position.

Despite the decline in net profit margins, Carl Zeiss Meditec AG's EPS (earnings per share) remains the second best among its competitors.

Free cash flow (FCF) is positive for all companies, although Carl Zeiss Meditec AG is likely to record a decline compared to the previous year. As the other companies generate higher revenue, their FCF figures are correspondingly higher.

Share-based remuneration is only particularly pronounced at two companies.

All companies, except Carl Zeiss Meditec AG, carry out share buy-backs.

Part 2:https://getqu.in/xnYohI/