EKF Diagnostics Buys Back Shares, Keeps Major Shareholder Below 30% Threshold

An update from EKF Diagnostics Holdings ( (GB:EKF) ) is now available.

EKF Diagnostics Holdings has repurchased 142,000 ordinary shares at a price of 26 pence per share, with the shares to be held in treasury, leaving 433,076,112 shares in issue carrying voting rights. As part of the buyback, the company acquired 42,000 shares from funds managed by Harwood, a move designed to keep non-executive director Christopher Mills’ aggregate indirect holding at about 127.7 million shares and ensure his interest remains around but below 30% of EKF’s total voting rights, clarifying the updated capital structure and major shareholder position for investors.

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 plc is an AIM-listed global diagnostics business focused on point-of-care analysers in key areas such as haematology and diabetes, as well as life sciences services including the specialist manufacture of 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: 475,363

Technical Sentiment Signal: Sell

Current Market Cap: £114.8M

See more data about EKF stock on TipRanks’ Stock Analysis page.