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Bernstein SocGen Group initiated coverage on Getinge AB (GETIB:SS) (OTC:GNGBY) with a Market Perform rating and a price target of SEK228.00 on Tuesday.
The Swedish medical technology company is a global leader in hospital equipment and instruments for acute and intensive care, which represents 52% of revenues and 64% of adjusted EBITDA, according to Bernstein.
Getinge also holds significant market position in sterilization and prevention of contamination through its Surgical Workflow division, which accounts for 35% of FY24 revenue and 24% of adjusted EBITDA, with market shares ranging from 20% to 45%.
The company’s third division, Life Sciences, manufactures equipment for biomanufacturers and contributes 13% of sales and 12% of revenues to Getinge’s overall business.
Bernstein identified Getinge’s two key instruments as ECMO (extra corporeal membrane oxygenation) and Paragonix (organ transplant packs), both of which are part of the company’s acute and intensive care division.
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