The online pharmacy Redcare Pharmacy (formerly Shop Apotheke) significantly accelerated growth in the second quarter and also benefited from a takeover.
In the three months to the end of June, revenue had climbed by 47 percent to EUR 421 million compared to the previous year, the MDAX-listed company Redcare Pharmacy announced on Thursday in Sevenum. Sales of non-prescription products (Non-Rx) increased by 27 percent to 324 million euros. The number of active customers grew in the second quarter by around 400,000 to 10.1 million – an increase of 1.5 million year-on-year.
In XETRA trading, the Redcare Pharmacy share temporarily rose by 3.79 percent to EUR 101.80.
Jefferies leaves Redcare Pharmacy on ‘Buy’ – target €150
The analyst firm Jefferies has left the rating for Redcare Pharmacy at “Buy” based on key data for the second quarter with a price target of EUR 150. “Monsterly” exceeded sales expectations confirmed the positive business development of the online pharmacy, wrote analyst Alexander Thiel in a study available on Thursday. Reaching the threshold of 10 million active customers is a milestone. An increase in this year’s outlook is in the offing.
/tih/edh
Publication of the original study: 06.07.2023 / 01:25 / ET
First distribution of the original study: 06.07.2023 / 01:25 / ET
———————–
dpa-AFX Broker – the trader news from dpa-AFX
———————–
SEVENUM (dpa-AFX) / NEW YORK (dpa-AFX Broker)
Selected leverage products on Redcare Pharmacy
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the desired lever and we will show you suitable open-end products on Redcare Pharmacy
Leverage must be between 2 and 20