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Mindray Medical Research International Limited

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MR.N

ISIN: US6026751007
SEDOL: B1FCP24

Rating:

HOLD

Target Price:

22.00 USD

Investment Horizon:

6 to 12 months
12th May 2009 View Report   Download

1Q 09 News Alert

Mindray Medical International Limited (Mindray) reported significant y-o-y revenue growth in 1Q 09, which fell short of our expectation, while adjusted operating and net margin exceeded our expectations in 1Q 09. We expect the company to improve its market share, particularly in the Patient Monitoring and Life Support (PMLS) segment, going forward. Moreover, considering the better than anticipated operating and net margin performance…

14th Apr 2009 View Report   Download

Company News Alert

Mindray Medical International Limited’s (Mindray) ADR achieved our target price on 09 April 2009, closing at US$22.23. At current levels, we believe the ADR is fairly priced. Consequently, we downgrade the ADR from a BUY to a HOLD. We will reassess our target price and rating in our next update report, once the company announces its 1Q 09 results. We maintain our BUY rating for the European Stock based on our expectation of a positive currency impact over the medium term....

6th Apr 2009 View Report   Download

4Q 08 & FY 2008 Update Report

Mindray derived approximately 43% of its revenues from the domestic Chinese market in 4Q 08. The Chinese Government plans to improve healthcare conditions in China by increasing healthcare spending. We believe this provides an excellent growth opportunity for Mindray, as the company is likely to benefit from the anticipated modernization…

5th Mar 2009 View Report   Download

4Q 08 & FY 2008 News Alert

Mindray Medical International Limited (Mindray) reported significant y-o-y revenue growth in 4Q 08, broadly in-line with our estimate, while net level performance exceeded our expectations in 4Q 08. We maintain our positive outlook for the company’s ability to improve its market share, particularly in the Patient Monitoring and Life Support (PMLS) segment, going forward. Hence, we reiterate our BUY rating for the ADR based on our…

2nd Mar 2009 View Report   Download

Company News Alert

Mindray Medical International Limited’s (Mindray) ADR experienced a significant decline of 20.86% since our previous company news alert, dated 06 February 2009, reflecting investor concerns over recession in the US, slowdown in the Chinese economy and current uncertainty in global financial markets. However, we expect an improvement in the market share for products…