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Investing.com - UBS initiated coverage on Medartis Holding AG (SWX:MED) with a Neutral rating and a price target of CHF90.00 on Thursday.
The Swiss orthopedic implant manufacturer, which specializes in extremities and holds approximately 4% global market share, is expected to continue gaining market share according to UBS’s analysis.
UBS projects Medartis will achieve an organic sales compound annual growth rate of approximately 14% from 2024 to 2029, outpacing the broader market’s growth of around 7%.
This growth outlook is primarily driven by Medartis’ expanding product portfolio and geographical reach, particularly through increased adoption of the Keri’s TOUCH prosthesis.
Despite positive growth prospects, UBS believes Medartis’ current valuation at 29x 2025E EV/EBITDA already prices in "near perfect execution of the growth story," while cash conversion is expected to remain structurally lower than peers due to the company’s higher growth trajectory.
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