Sirtex Medical announces the 33rd consecutive quarterly increase in dose sales
Yesterday, Sirtex Medical Limited (SRX) announced, for the September 2012 Quarter, dose sales of its SIR-Spheres microspheres targeted radioactive liver cancer treatment grew 37 per cent on the previous corresponding quarter.
This was the 33rd consecutive quarterly increase in dose sales achieved by the Company.
The US recorded a 42 per cent increase, Europe, the Middle East and Africa (EMEA) was up 26 per cent while Asia Pacific grew by 33 cent.
In the year to June 2012, Sirtex Medical’s revenue was $86.6m (+19%) on dose sales of 6,141 (+ 23%). Each dose sold for an average of A$14,000.
The SRX share price jumped 10.3% yesterday to $10.18 and has increased 67% from $6.09 since 30 June 2012.
Both the Montgomery [Private] Fund and The Montgomery Fund are shareholders in Sirtex Medical Limited.
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Greg McLennan
:
I’ve looked at SRX a few times but never owned them. Some guy once talked about preferring a great company at a reasonable price compared to a reasonable company at a great price. SRX hasn’t been dirt cheap but competitive advantage and bright future prospects are critical!
That’s a handy inclusion for your new fund, too.
Michael
:
At $8 I had decided to buy some if there was a pullback in the price. I have since watched it continue to surge higher. This is a company with bright growth prospects, but you have to wonder if paying above $10 already factors a lot of growth in.
David Edmondson
:
I feel similarly – this company looks very likely to have bright prospects for the future, and you’d expect it to be very much larger in a few years than it is now. But my (very much back of the envelope) calculation has Sirtex trading at a premium to intrinsic value, even forecast intrinsic value (depending on how far you look into the future). Too expensive for me now, but a company I shall watch with interest.
grant.westcott.7
:
I bought Sirtex back in June but did this based upon my own valuation criteria as it was well over valued based upon Skaffold’s IV on both a current year and following year basis. Given this, I am interested to learn the thought processes that lead to the fund.s decision to invest. Your reply can be sent to my email address if you wish.
Thank you