Equity Analysis /

AU : Nanosonics - Core business on track - new product some time away

    Scott Power
    Scott Power

    Senior Analyst - Healthcare, Life Science & Technology

    23 August 2022
    Published byCGS-CIMB

    NAN posted an in-line FY22 result, assisted by lower operating costs and a tax benefit. FY23 guidance results in modest downgrades to forecast, although little change to target price. Of most interest is the expected time to US launch of the CORIS® which will now take the de Novo path and in our view likely take a couple of years. The share price has reached our target and we move to a Hold (from Add) recommendation.