There would be few investors focused on the Australian Securities Exchange (ASX) who are unaware that Australian medical device companies Cochlear and ResMed are global leaders in their respective spaces, hearing aids and obstructive sleep apnoea (OSA) pumps and masks. Nanosonics, which has developed an automated disinfection system for ultrasound probes, is well on the way to joining that duo as a heavyweight medical device player – although NAN’s success appears to have pushed its share price well past what analysts believe is fair value. But there is no shortage of other medical device companies on the ASX that are advancing their products. Here is a look at 5 promising situations.
1. Medical Developments (MVP, $5.94)
Market capitalisation: $390 million
Revenue: $20.9 million FY19
Profit: $1 million FY19
Dividend: 4 cents FY19
Three-year total return: 5.3% a year
Analysts’ consensus valuation: $7.05 (Thomson Reuters)
Anyone who has experienced a painful injury or suffered a traumatic accident would be familiar with the “green whistle,” an inhaler that, after a few puffs, provides instant pain relief.