70% of nz population covered for cxbladder tests by their local dhb? PE call it a majority.
The financial accounts record NZ op Rev $915k for the six months, $2.133m for 12 months to 31 March
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Wonder if some sellers were in this for a quick profit and have sold when that hasn't materialised. It is a slow cook in the medical field at the best of times. The trajectory is heading in the right direction including building revenue.
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Yeah I did the same. I would say most in for a quick profit have since sold out. Likely will see a wave of support entering if SP drops into the high 1.2 range. Those that didn't participate in the SPP are likely looking to enter 1.25-1.29. Whether or not it reaches these levels today is unlikely but who knows. An entry of 1.25 would be pretty hard for most to pass up at this point. There is still a lot of positivity in this report that seems to be overlooked. Yes it is a growth stock. They are still in growth phase. Adoption is low but working in the right direction. I will be looking to top up further if touches anywhere near 1.25, but I wouldn't hold my breath that would reach that low. Be interesting to see how the rest of the day plays out and where support kicks in. Not much support on the buy side right now though !
My notes from the investor call for those that were not able to make it. Last for Dave.
- General theme, and comment made a number of times: Not moving as quickly as they would like in this “pandemic world”. Similar comments made during FY21 call.
- Increase from 19 to 21 sales territories in US.
- Access to hospitals and clinics restricted due to COVID-19.
- Current situation has led the company to be “creative” in provision of service and scaling – virtual selling, in-home sampling, remote working, etc.
- Scaling sales force further, lifting to 30 by end of this month from current of 28 (committed to this further in the questions).
- KP resources diverted elsewhere during COVID-19, although have adopted second Cxb product.
- Not expecting rampant growth from KP until system integration has been completed, which is proceeding slowly due to resource constraints on KP side reportedly.
- KP enjoying the technology of PEB’s products.
- Continuing to see month on month growth, no numbers specified.
- Cagey about identifying “next KP”.
- Expecting to see ROI from sales force coming on board, although there is a lagging effect here.
I also find the pcp comparison to not be entirely instructive as the second half of FY21 was momentous for PEB. A comparison of 2H21 (FY21 less 1H21) vs 1H22 shows that operating revenue has increased 22.9% across these most recent 6 month periods. This compared with the 62% pcp increase in operating revenue for 1H21 vs 1H22.
Overall, still happy and still holding.
Some pretty big sales happening off market currently, for example 661,000 shares @ $1.32. What to make of this?
Also looks as soon as bids are building up descent sell orders are coming through 20,000, 40,000 at a time. Looks like some larger holders are selling down. Maybe SP will get battered down to ~1.25 before finding support :/
The market is surprisingly downbeat after todays update, over reacting?
The brokers usually drip feed in large orders so you could be right on a sell down. Could even be DD now that he has given his final meeting. Time for him to cash up and retire
He has 4.6m shares to cash out. Maybe he's selling most and keeping a million for old times sake
The good news is that there are buyers out there for 661,000 shares. Clearly some decent sized investors wanting in
Yeah but if you are right Tango then will be quite a lot of downward pressure eon SP until he can move through that sort of volume of shares to somewhat cash out and retire. Predicament really. SP dropping below 1.30 as we speak, hope I am right with my previous comment of 1.25 holding and forming a lower end support level there. Shouldn't go lower than that surely, fingers crossed. But if you are right and DD's brokers are on sell call then could see SP battered over the following month while he sells through.
Sizeabkle 20,000 - 40,000 sells have been going through consistently throughout the day. Brokers just wait for the bid side to catch up as they drip feed the order through. In order to follow 'fair market trade". I have found this in the past with other shares I have wanted to sell down, been informed I needed to stagger them down not put a single sell on market considerably lower than days opening or current price. Seems to be what is happening? Happens to be approx 10 minutes apart. That way the brokers can get a better price by letting bids build up rather than drive their own sell price down too heavily. Definitely can be seen as we speak if monitor the recent trade activity. Look for the sell orders spacing through 20,000 - 40,000 consistently.
Luckily there seem to be sufficient bids coming through to keep it around the 1.30 level, but as the flow of sells steadily keep pushing through the buy demand may diminish as the day progresses and might well be closer to 1.25 by days end :( Oh well lets cross fingers 1.20 not tested!! We need some big buyers to come in, but most of them already spent up in the recent Cap Raise. Come on guys top up and double down if hit 1.25 surely (ha, not as if the big boys are looking at this forum anyway!)
Looking by the activity brokers have been instructed to cash out 1.30-1.31, that's where their bids are coming through. Lets hope they have been instructed not to drop below that figure. If so maybe 1.30 can hold fingers crossed. As soon as buy orders surmount to approx 20,000- 40,000 (or higher) @ 1.30/1.31 look what happens, a sell comes through for approx 20,000, 30,000 or 40,000 knocking it back sub 1.30 again.
I haven’t had a chance to look into the results in detail. But on first glance they look below anticipation.
This rough calculation from back in September would of put them at estimated half year throughput of 11155 rounded up. 15814/4*1.35+15814/4*1.35*1.09 = 11154.8
But it was ignoring the increasing sales staff and ignoring Kaisers coverage of CXBladder Triage starting in August 2021.
So the actual throughput of 11136 might be below what was expected.
Hopefully they have a stellar second half.
The joys of being a broker. There it is 40,000 1.30. Other sellers seem to be cottoning on. Might end up forcing their sell orders to be sub 1.30 to compete against the brokers sell downs. Let's just hope the brokers aren't allowed to offload lower than 1.30. Guess we will see this afternoon.
Announcement seem very similar to previous ones over the years …..and the reaction on Sharetrader is the same.
Seems a never ending sago ….maybe one day it’ll all be different.
Just my observation …and I can say that because PEB has received some of my cash in the past.
1.30 not looking like an attractive enough re-entry point for you?
I first started investing in PEB when it was 0.27. Bought and sold along the way, but wished I had just held every time from when I have sold, as it's much stronger now. Wondering if 1.30 will be looked back upon (after this volume seller clears out the way) and have seen it as a good buy opportunity.
I am happy with it all , substantial cash in the bank , increasing the sales staff ( why wouldn’t that be a good idea?) and good growth. The share price is overvalued at this point but the future looks good to me. PEB are in the best shape it has ever been in and should go from strength to strength. Perhaps some investors are impatient and expect too much. I will not be selling my shares.
I spoke to Direct Broking/Jarden about this a couple of months ago because I couldn't see my sell order in the depth and the broker told me that my order was too big to process in one hit and he said they would manually drip feed it in so the market doesn't panic.
If DD is selling most of his shareholding (and with volume of 2.6 million to date I would say it's likely) then we still have another 1 or 2 million shares to go before things settle.
It makes sense. He couldn't sell earlier without potential insider trading accusations and sometimes when you leave a business, even if you love it, you just want to move on.
Usually with large order the brokers try to place as much as possible with existing clients then drip feed the rest on the market so it could all be done. If they have then they will reveal the rest of the trades in the mop up at 5 pm
Ha ha ….an analyst said much the same as me
Pacific Edge delivered results for the six months ended September which were described by one broker as being as “bang in line as a PEB result can be”.