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14 February 2019

Redmayne Bentley’s Top Trades

Below we take a look at the most frequently traded shares through Redmayne Bentley over the last couple of weeks and consider why they have been so popular.
 
APPLE (AAPL)
Index: NASDAQ
Sector: Technology
Market Capitalisation: US$802.87bn
 
Apple shares rallied 5% following their quarterly earnings report. Revenues fell by 5% for the three months ending December and net income fell by 0.5%, however, these figures came in better than Wall Street had expected, given the group’s recent struggles. Performance headwinds surrounding China’s economic slowdown are forecast to continue, however, management remain confident in their ability to diversify revenues away from declining iPhone sales; iPhone revenues for the period fell by 15% while the rest of the business grew by 19%.
 
SMITH & NEPHEW (SN.)
Index: FTSE 100
Sector: Health Care Equipment & Services
Market Capitalisation: £12,772.73m
 
Smith & Nephew are in talks to buy California-based NuVaise for US$3bn, with the deal being the largest acquisition made by the British medical devices group. NuVaise has a market value close to US$2.5bn, after discounting debt, and specialises in instruments used for spinal surgery; the business grew revenues by 5% in 2018, falling short of analysts’ expectations, which led to warnings that the spinal surgery market may be at risk of slowing. Smith & Nephew’s CFO has guided that the businesses debt will increase as they pursue deal making as a new avenue for growth.
 
FEVERTREE (FEVR)
Index: FTSE AIM 100
Sector: Beverages
Market Capitalisation: £3,263.91m
 
Fevertree delivered their annual results in January, with management stating that 2018 sales had been ahead of their own expectations as UK revenues grew by 52% for the year. Fevertree also managed to record significant progress in their US expansion, as sales rose by 21%, while performance on the continent picked up, with the group reporting growth in Europe rising 30% in the second half of 2018. The stock remains expensive, with shares trading on more than 70 times earnings, however, strong performance continues to attract investor interest.
 
Top Trades is published every fortnight in Equity Insight, a newsletter written by our stockbrokers and investment managers. It provides market commentary, a focus on individual sectors, technical analysis, potential trading opportunities and share reviews.
 
Please note that investments and income arising from them can fall as well as rise in value and you may lose some or all of the amount you have invested. Past performance and forecasts are not a reliable indicator of future results or performance. Please note that this communication is for information only and does not constitute a recommendation to buy or sell the shares of the companies mentioned.
Redmayne Bentley’s Top Trades

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