- Q&M Dental Group (SGX:QC7)'s 2023 adjusted PATMI exceeded our expectations at 121% of forecasts. Operating margins recovered from higher revenue per patient and more stable employee expenses. Associates also turned around from losses the prior year.
- - Read this at SGinvestors.io -
- We upgraded Q&M from ACCUMULATE to BUY and raised our target price to S$0.36 (previously S$0.34).
- - Read this at SGinvestors.io -
The Positive
Recover in revenue and margins.
- 2H23 revenue growth is the fastest over the past two years. Despite fewer clinics, revenue expanded from higher revenue per patient. Using data driven treatment, Q&M can ascertain and provide a more intensive treatment for patients.
- Margins recovered from operating leverage and a stable number of staff or nurses.
The Negative
Declining number of clinics.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2024-03-18
Previous report by Phillip:
2023-08-27 Q&M Dental Group - Still Filling Up The New Clinics.
Price targets by other brokers at Q&M Dental Target Prices.
Listing of research reports at Q&M Dental Analyst Reports.
Relevant links:
Q&M Dental Share Price History,
Q&M Dental Announcements,
Q&M Dental Dividends & Corporate Actions,
Q&M Dental News Articles
