{"id":5401,"date":"2024-02-05T18:40:02","date_gmt":"2024-02-05T18:40:02","guid":{"rendered":"https:\/\/economicherald.net\/?p=5401"},"modified":"2024-02-05T18:40:02","modified_gmt":"2024-02-05T18:40:02","slug":"moneytalks-two-asx-medical-imaging-stocks-are-put-under-microscope-both-have-big-price-targets","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5401","title":{"rendered":"MoneyTalks: Two ASX medical imaging stocks are put under microscope \u2013 both have big price targets"},"content":{"rendered":"<p>Ord Minnett believes 4DMedical could double<br \/>\nWilsons Advisory also slaps a big price target on Mach7<\/p>\n<p>\u00a0<\/p>\n<h2>4D Medical\u2019s share price could double<\/h2>\n<p><strong>Ord Minnett<\/strong> has initiated coverage of <strong><a href=\"https:\/\/stockhead.com.au\/company\/4d-medical-4dx\/\">4DMedical (ASX:4DX)<\/a><\/strong> with a <strong>Speculative Buy<\/strong> recommendation and<strong> $1.20 price target<\/strong> (vs current price of 56c).<\/p>\n<p>4DX is a global medtech company focused on the commercialisation of its flagship respiratory imaging platform,<strong> XV Technology<\/strong>.<\/p>\n<p>Ord Minnett believes the company is strongly positioned to disrupt the US$31b global respiratory diagnostics market, with its software products offering a step-change in diagnostic capability vs the incumbent (e.g. chest X-rays, CTs).<\/p>\n<p>The broker sees 2024 as an inflection point for the business, citing several factors including the potential for rapid growth in the US.<\/p>\n<p>4DX\u2019s commercialisation in the US market has accelerated in FY24 following the recent win with <strong>Philips<\/strong>, targeting XV Technology delivery into <strong>Veterans Affairs (VA)<\/strong>. There is the potential here to accelerate sales in the US via this Philips reseller agreement.<\/p>\n<p><strong>Medicare reimbursement<\/strong> in the US has also been granted for XV LVAS at US$299 per scan.<\/p>\n<p>There is a potentially huge market here, says Ord Minnett, as the US Medicare covers around 65.7 million lives in the country (or around 20% of the population on 4DX estimates).<\/p>\n<p>This coverage is expected to affect care delivery at more than 4,000 Medicare-certified hospitals across the US.<\/p>\n<p>Secondly, the recent acquisition of <strong>Imbio<\/strong> can drive revenue and cost synergies toward free cashflow breakeven.<\/p>\n<p>Imbio is a well-regarded imaging AI business based in Minneapolis. Ord Minnet believes the acquisition offers 4DX a &gt;US$600m revenue opportunity which it could penetrate rapidly.<\/p>\n<p>And thirdly, Ord Minnett believes that 4DX can maintain its <strong>recent momentum in Australia<\/strong> \u2013 an addressable market of around $400m \u2013 and push towards 150 installed sites by FY24\/25.<\/p>\n<p>\u201c4DX\u2019s two key markets, US and Australia, represent &gt;45% of the global market.<\/p>\n<p>\u201cWe view 4DX\u2019s risk-reward as compelling at current levels, with its 6x FY25 EV\/sales comparing favourably vs peers on a growth adjusted basis,\u201d added Ord Minnett.<\/p>\n<p>\u00a0<\/p>\n<h2>Mach7 is a \u201clong term play\u201d<\/h2>\n<p><strong>Wilsons Advisory<\/strong> said it has maintained its <strong>Overweight<\/strong> rating on <strong><a href=\"https:\/\/stockhead.com.au\/company\/mach7-technologies-m7t\/\">Mach7 (ASX:M7T)<\/a><\/strong>, with a target price of $1.05 per share (versus current price of 69c).<\/p>\n<p>Mach7 is a health technology company specialising in <strong>Enterprise Imaging solutions<\/strong>. Their technology allows healthcare practitioners across all departments and specialities to view and store diagnostic imaging.<\/p>\n<p>Its most recent half results show $13.3m in total revenue, which was 19% higher vs pcp.<\/p>\n<p>\u201cWhilst we expect ongoing catalysts with the announcement of new contract wins, the largest catalyst for Mach7 is the outcome of the Phase 2 VA (Veterans Affairs) contract worth $48m,\u201d said the note from Wilsons.<\/p>\n<p>But as expected, Mach7 announced an FY24 revenue downgrade owing to an increasing amount of healthcare facilities opting for subscription contracts vs capital contracts, removing the 50-60% of contract value that it would otherwise receive up front.<\/p>\n<p>\u201cThis is not surprising, and to be frank, was well overdue,\u201d said Wilsons.<\/p>\n<p>\u201cThe market\u2019s reaction was neutral because the revenue downgrade was countered by the fact that Mach7 increased FY24 sales order guidance by 25%, now targeting &gt;$60m.\u201d<\/p>\n<p>Wilsons says it remains positive on Mach7, given sales orders are tracking ahead of expectations, and catalysts in FY24 (VA contract) present upside to forecasts.<\/p>\n<p>\u201cWe maintain our Overweight rating with an updated $1.05\/sh price target.<\/p>\n<p>\u201cPleasingly, despite delayed revenue, Mach7 is targeting cash flow breakeven in FY24.<\/p>\n<p>\u201cThe key question that remains is the ability of Mach7 to capture capital revenue in H2 FY24. Mach7 however is a long-term play, we just hope investors don\u2019t miss the boat,\u201d said Wilsons.<\/p>\n<p>\u00a0<\/p>\n<h2>Share prices today:<\/h2>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/experts\/moneytalks-two-asx-medical-imaging-stocks-are-put-under-microscope-both-have-big-price-targets\/\">MoneyTalks: Two ASX medical imaging stocks are put under microscope \u2013 both have big price targets<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Ord Minnett believes 4DMedical could double Wilsons Advisory also slaps a big price target on Mach7 \u00a0 4D Medical\u2019s share price could double Ord Minnett <a href=\"https:\/\/economicherald.net\/?p=5401\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5402,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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