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๐‡๐จ๐ฐ ๐จ๐ฅ๐ ๐š๐ซ๐ž ๐ฐ๐ž?! ๐€๐ง๐ ๐ก๐จ๐ฐ ๐ญ๐จ ๐ฎ๐ฌ๐ž ๐ญ๐ก๐š๐ญ ๐ญ๐ซ๐ž๐ง๐



๐“๐ก๐ž ๐ฌ๐ญ๐š๐ญ๐ข๐ฌ๐ญ๐ข๐œ๐ฌ ๐ฐ๐š๐ฌ ๐ฆ๐š๐๐ž ๐›๐ฒ ๐ญ๐ก๐ž ๐”๐ง๐ข๐ญ๐ž๐ ๐๐š๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ ๐ˆ ๐ฐ๐š๐ง๐ญ๐ž๐ ๐ญ๐จ ๐ฌ๐ก๐š๐ซ๐ž ๐ข๐ญ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎ. ๐“๐ก๐ž ๐š๐ฏ๐ž๐ซ๐š๐ ๐ž ๐ ๐ฅ๐จ๐›๐š๐ฅ ๐š๐ ๐ž ๐ข๐ฌ ๐ง๐จ๐ฐ ๐Ÿ‘๐Ÿ, ๐ฎ๐ฉ ๐Ÿ• ๐ฒ๐ž๐š๐ซ๐ฌ ๐ฌ๐ข๐ง๐œ๐ž ๐Ÿ๐Ÿ—๐Ÿ“๐ŸŽ. ๐Ž๐ง๐ž ๐ญ๐ก๐ข๐ซ๐ ๐จ๐Ÿ ๐ฉ๐ž๐จ๐ฉ๐ฅ๐ž ๐š๐ซ๐ž ๐ฒ๐จ๐ฎ๐ง๐ ๐ž๐ซ ๐ญ๐ก๐š๐ง ๐Ÿ๐ŸŽ ๐ฒ๐ž๐š๐ซ๐ฌ ๐จ๐ฅ๐. ๐Ÿ”๐ŸŽ๐ŸŽ ๐ญ๐ก๐จ๐ฎ๐ฌ๐š๐ง๐ ๐ฉ๐ž๐จ๐ฉ๐ฅ๐ž ๐š๐ฅ๐ซ๐ž๐š๐๐ฒ ๐จ๐ฏ๐ž๐ซ ๐Ÿ๐ŸŽ๐ŸŽ ๐ฒ๐ž๐š๐ซ๐ฌ ๐จ๐ฅ๐!


With all the new challenges that an aging society brings, we naturally come to the opportunities: The healthcare sector has been a megatrend of stable growth for the past 30 years, based on consistently increasing demand. Against the backdrop of the pandemic, healthcare issues are continually in the headlines at the moment, but even after the pandemic, ever-improving healthcare will remain a long-term megatrend and become increasingly weighty. Not least because a middle class is emerging in emerging and frontier markets - and with it a need for better healthcare. In the mature economies, in turn, the population is getting older. Because a large proportion of healthcare spending occurs after the age of 60, aging not only necessitates more healthcare, but also requires new solutions and innovations. Japan, for example, is increasingly developing robots that can be used in the care of the elderly.


๐“๐ก๐ž๐ซ๐ž๐Ÿ๐จ๐ซ๐ž ๐ง๐จ๐ฐ ๐ญ๐จ ๐ญ๐ก๐ž ๐ง๐ž๐ฐ๐œ๐จ๐ฆ๐ž๐ซ ๐ข๐ง ๐ญ๐ก๐ž ๐ฉ๐จ๐ซ๐ญ๐Ÿ๐จ๐ฅ๐ข๐จ: $ROG.ZU (Roche Holding Ltd)

We have used the price weakness last week for an entry. F. Hoffmann-La Roche AG, headquartered in Basel, is the world's largest pharmaceutical company by sales, with the equivalent of about $65 billion. Roche also manufactures reagents and equipment for medical testing. Currently, Roche conducts research particularly in the areas of oncology, virology, neurology and transplantation medicine and employs over 100,000 people worldwide.


Overall, sales in the first half of the year climbed by five percent to 30.7 billion CHF, an increase of eight percent at constant exchange rates. The company thus performed better than analysts had expected. However, Roche was unable to score points on the stock market, with its shares losing a good two percent.


Net income, however, fell by three percent to 8.2 billion CHF due to the strong CHF; adjusted for currency effects, it rose by two percent. Roche reaffirmed its full-year targets and continues to expect sales to grow at constant exchange rates in the low to mid single-digit percentage range. Earnings per share adjusted for special items are expected to grow at about the same rate. In the first half of the year, it rose by six percent to 10.56 CHF at constant exchange rates.


๐๐ž๐ฅ๐จ๐ฐ ๐…๐š๐ข๐ซ ๐•๐š๐ฅ๐ฎ๐ž: With CHF347.3 Roche is trading substanially below my estimate fair value (>50%). According to the so-called Snowflake Score (0-6) it looks equally good:

๐•๐š๐ฅ๐ฎ๐š๐ญ๐ข๐จ๐ง: ๐Ÿ’

๐…๐ฎ๐ญ๐ฎ๐ซ๐ž ๐†๐ซ๐จ๐ฐ๐ญ๐ก: ๐Ÿ

๐๐š๐ฌ๐ญ ๐๐ž๐ซ๐Ÿ๐จ๐ซ๐ฆ๐š๐ง๐œ๐ž: ๐Ÿ“

๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐‡๐ž๐š๐ฅ๐ญ๐ก: ๐Ÿ”

๐ƒ๐ข๐ฏ๐ข๐๐ž๐ง๐๐ฌ: ๐Ÿ“


Have a good start of the week!


BR


$GER30 $NSDQ100$HKG50$SPX500

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