Added to YB: 2024-06-14
Pitch date: 2024-06-12
COV.V [neutral]
Covalon Technologies Ltd.
+17.39%
current return
Author Info
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Company Info
Covalon Technologies Ltd. engages in the research, development, manufacturing, and marketing of medical products in infection management, advanced wound care, and surgical procedure areas in the United States, Canada, the Middle East, Asia, Latin America, and internationally.
Market Cap
CAD 69.4M
Pitch Price
CAD 2.07
Price Target
N/A
Dividend
N/A
Sector
Biotechnology
Category
turnaround
Covalon Technologies $COV.V (3.25/5)
COV.V: Impressive balance sheet w/ 6.8 current ratio, $7.25M cash, no debt. Q2 revenue +16% YoY, margins +400bps to 62.9%. Net income turnaround to $1.46M from -$700k. Risks: $2M potential inventory write-down, $1.8M wrongful dismissal claim. Revenue still below 2017-2018 levels. Unclear if Q2 success is sustainable. 3.25/5 stars for now.
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