EKF Diagnostics Buys Back Shares and Adjusts Major Shareholder Position

EKF Diagnostics Holdings ( (GB:EKF) ) has issued an update.

EKF Diagnostics Holdings has repurchased 43,000 ordinary shares at a weighted average price of 25.56 pence, with the shares to be held in treasury, leaving 433,969,112 shares in issue carrying voting rights. As part of the transaction, the company bought 13,000 shares from funds managed by Harwood to ensure that non-executive director Christopher Mills’ aggregate indirect holding, now 127,970,000 shares, remains at around but not above 30% of EKF’s total voting rights, a move that fine-tunes the firm’s capital structure and major shareholder positioning for regulatory purposes.

The most recent analyst rating on (GB:EKF) stock is a Hold with a £27.00 price target. To see the full list of analyst forecasts on EKF Diagnostics Holdings stock, see the GB:EKF Stock Forecast page.

Spark’s Take on GB:EKF Stock

According to Spark, TipRanks’ AI Analyst, GB:EKF is a Neutral.

EKF Diagnostics Holdings receives a score of 67, driven by strong financial performance and a positive earnings call. The company’s robust balance sheet and improved profitability are significant strengths. However, technical indicators suggest potential bearish momentum, and the valuation is moderate. The positive outlook from the earnings call, including strategic growth plans and a share buyback program, enhances the overall score.

To see Spark’s full report on GB:EKF stock, click here.

More about EKF Diagnostics Holdings

EKF Diagnostics Holdings is an AIM-listed global diagnostics business specialising in point-of-care analysers for haematology and diabetes, as well as life sciences services that manufacture specialist enzymes and custom products for diagnostic, food and industrial applications. Headquartered in Penarth near Cardiff, the company operates five manufacturing sites across the US and Germany and sells into more than 120 countries worldwide.

Average Trading Volume: 506,872

Technical Sentiment Signal: Strong Sell

Current Market Cap: £107.8M

See more insights into EKF stock on TipRanks’ Stock Analysis page.