Biosensors

Biosensors: Counter seeing continued activity with good volumes today. Management continues its share buy-back scheme at an average of $0.889/share yesterday. Repost from yesterday: Biosensors’ shares have rebounded on renewed investor interest, with sizable buying volumes seen over the past two days. The counter recently etched a 52-week low of $0.82 (26 Aug), following a disappointing set of 1QFY14 results and accompanying slew of broker downgrades. Market watchers likely see limited share price downside from current levels, in view of Biosensors’ on-going share buy-back programme and open market share purchases by significant shareholder Atlantis Capital, all recently executed at around the $0.84-0.85 levels. Meanwhile, analysts have been highlighting the potential for share price upside, should Biosensors manage to net a value-accretive acquisition. Management recently noted that the group is making good progress on the merger and acquisition front, and is eyeing a number of potential targets that would help transform it into a global medical devices group.