Here’s a breakdown of teh provided text, focusing on the companies discussed and their key points:
Overall Theme: The article discusses attractive investment opportunities in the pharmaceutical and healthcare sectors, highlighting companies with strong fundamentals, growth potential, and dividend payouts.
Companies Discussed:
Johnson & Johnson (J&J):
size and Solidity: Recognized for it’s large and stable business.
Recent Strategic Move: Segregated its personal care business into a new company, Kenvue, in 2023.
Focus: now concentrates on its pharmaceutical and medical technology businesses.
Market Reaction to Segregation: The partition has been “penalizing” in terms of results and stock market perception, leading to a bearish trend.
Valuation Adjustment: The adjustment has “slightly relieved its demanding assessment.”
Historical Performance: Price multiplied by more than three in the last 15 years.
Strengths:
Solid pharmaceutical division (oncology, immunology, neurology, cardiopulmonary, ophthalmology).
Powerful technological division (surgery, orthopedics, cardiovascular, ophthalmology).
Future Outlook: Despite current stagnation, has the ability to continue growing.
Dividend: Historically increasing,around 3.5% per year, making it attractive during price corrections.
Technical Outlook: Shows a “solid soil over 155 euros per share” for potential medium-term new highs.
Bayer:
European Focus: Highlighted as a striking European company in the Euro Stoxx 50.
Analyst Preference: Analysts seem to favor Bayer over Sanofi due to Sanofi’s stagnation.
Challenges: Faced “great economic and reputational problems” from the 2018 Monsanto purchase.
Current Goal: “Recovering the lost brightness.”
Business Areas: Pharmaceuticals, consumer health, and crop science.
Ongoing Challenges: Agrochemical sector problems and tariff uncertainties are expected to penalize accounts this year. Future Outlook: Horizon is “more clear” pending new drug development and debt reduction in a more favorable environment.
Technical Outlook: Overcoming the “current technical barrier of the 30 euros” is key to confirming good prospects.
Sanofi:
European Focus: Mentioned as a striking European company in the Euro Stoxx 50.
Analyst View: Analysts seem to prefer Bayer due to Sanofi’s stagnation.
Spanish Laboratories:
General Mention: Diversification options in Spain are interesting, though of a more limited size.
Specific Companies Mentioned: Almirall, Pharmamar, Oryzon.
Standout Companies: Rovi and Grifols.
Grifols:
Belonging: Part of the Ibex 35.
Recent Performance: initiated an “intense recovery” after accusations of account manipulation by Gotham Investment Fund.
Current Status: Balance sheet is “more in order.”
analyst View: High potential, not directly affected by tariffs due to a solid US position. Technical Outlook: Point of view is at the “maximum of the late 2023,” and overcoming this woudl signify a “definitive recovery of confidence.”
Rovi:
Attractiveness: Considered the “most attractive option in the Spanish pharmaceutical sector.”
Activity: Research, development, manufacturing, and marketing of pharmaceutical products, as well as manufacturing services for third parties.
Growth Forecasts: Solid growth forecasts of 8.4% on average in the next three years.
Recent Performance: Touched “absolute maximums near 90 euros in the middle of last year.”
Key Investment Themes:
Company Fundamentals: The article emphasizes the importance of solid pharmaceutical and technological divisions. Strategic decisions: J&J’s segregation is a significant event impacting its valuation.
Dividend Payouts: J&J’s dividend is highlighted as a positive factor. Valuation Adjustments: The market’s reaction to corporate events can create buying opportunities.
Technical Analysis: Key price levels are identified as indicators of future performance.
Geographic Exposure: The US market is seen as a positive for Grifols,insulating it from tariffs.
In essence, the article provides a snapshot of the current investment landscape in the pharmaceutical sector, identifying companies with strong underlying businesses and potential for future growth, while also acknowledging the challenges and strategic shifts they are undergoing.