Getinge initiated with a Market Perform at Bernstein

Bernstein analyst Delphine Le Louet initiated coverage of Getinge (GNGBY) with a Market Perform rating and SEK 228 price target The firm notes Getinge is a global leader in hospital equipment and instruments in acute/intensive care as well as in sterilization and prevention of contamination, with market shares in the range of 20%-45%. A third division, Life Sciences is manufacturing equipment for biomanufacturers. Getinge’s two key instruments are ECMO — extra corporeal membrane oxygenation– and Paragonix — organ transplant packs, both in ACT, Bernstein adds. The firm points out that Getinge is highly exposed to the hospital capex cycle for both small and large equipment, and it stands to benefit from the secular trends of demographics and improved patient workflow leading to more volume and increased hospital activity.