Straumann Holding AG
STMN: XSWX (CHE)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| CHF 179.00 | Xsyvfv | Lqtzmtgyv |
Straumann Earnings: Strong China and Latin America Results Offset High-Interest-Rate Pressure in US
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Narrow-moat Straumann reported first-quarter earnings that came in as we expected. Total sales of CHF 644 were up 8.1% year over year, or 16.5% in local currencies. Unfavorable headwinds related to the euro, US dollar, and yen created material headwinds—more than 600 basis points—but strong execution and market-share wins in certain regions proved enough to more than offset those impacts. We maintain our fair value estimate of CHF 100 per share.