BUZZ-Morningstar sees Nanosonics' endoscope-cleaning device supporting recurring revenue

Reuters
Dec 19
BUZZ-Morningstar sees Nanosonics' endoscope-cleaning device supporting recurring revenue

** Morningstar says shares of Nanosonics NAN.AX are trading close to intrinsic value and maintained its A$4.40 fair value estimate

** Expects medtech firm's new endoscope-cleaning product Coris to sell fewer units than its ultrasound probe sterilizer product Trophon

** However, Coris could deliver higher consumables per device, which is attractive for recurring revenue, while more endoscopic procedures, driven by aging population and better technology, should boost demand

** Investment research firm assumes a U.S. commercial launch in fiscal 2027 and forecasts EBIT to grow to about A$75 million ($49.58 million) by fiscal 2030

** Of seven analysts, three rate the stock "buy" or higher, two "hold," and two "sell"; their median price target is A$4.90, according to LSEG data.

** Stock is up 35.5% YTD, as of last close

($1 = 1.5129 Australian dollars)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com;))

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