BTG.L - BTG plc

LSE - LSE Delayed Price. Currency in GBp
+0.50 (+0.06%)
As of 4:35PM BST. Market open.
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Previous Close836.50
Bid836.50 x 0
Ask837.00 x 0
Day's Range836.00 - 838.00
52 Week Range482.60 - 853.00
Avg. Volume1,107,196
Market Cap3.25B
Beta (3Y Monthly)-0.19
PE Ratio (TTM)114.66
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date1998-07-13
1y Target EstN/A
  • Nelson Peltz Likes the Look of American Plumbing
    Bloomberglast month

    Nelson Peltz Likes the Look of American Plumbing

    (Bloomberg Opinion) -- Nelson Peltz’s latest investment target is a big, slow-moving target with a massive bullseye on its back. The renowned U.S. activist has zoned in on Ferguson Plc, a plumbers’ merchant formerly known as Wolseley. His gripe is that the company trades at a stubborn discount to American peers. The snag is that remedies aren’t easy to administer.Ferguson is among the handful of U.K.-domiciled, London-listed blue-chips that aren’t really British companies. Some – such as BTG Plc or Firstgroup Plc – have already attracted takeover or activist interest. North America generates 87% of Ferguson’s revenue; the company recently changed its name to that of its U.S. subsidiary; it reports in dollars.The one un-American characteristic is the valuation. Ferguson has traded at a consistent discount to U.S. peers such as Home Depot Inc. and Lowe’s Cos Inc. The obvious explanation is that the company is listed on the wrong exchange, which makes it harder to attract its natural investor base. But that’s not the only interpretation. The valuation may also reflect a lack of faith in Ferguson’s strategy or management, or some challenges unique to its business. Either way, the discount slightly narrowed on Thursday after the disclosure that various Peltz funds had amassed a 6% stake. This pushed the stock up 6%, valuing the group at 13 billion pounds ($16 billion).It is hard to know whether Ferguson would get a higher valuation if it just moved its listing. Markets may not be 100% efficient, but capital is global and location can’t be the only explanation for the lack of investor love here. True, some funds are restricted geographically in where they can put money but that’s unlikely to be a huge factor in holding back demand for Ferguson shares.Such restrictions on funds might, though, be an obstacle to engineering a move for Ferguson. Unilever Plc’s plan to simplify its Anglo-Dutch structure into a single Netherlands company would have seen it lose its spot on the FTSE 100. That irked index investors and those with mandates to hold U.K. stocks who would have been forced to sell their shares. The plan foundered.Unilever wasn’t a one-off. Re-domiciling headquarters or listings has long been controversial. The textbook case is the thwarted migration of car parts maker LucasVarity back in the late 1990s from the U.K. to the U.S. For these changes, existing investors generally demand a premium. The cleanest way to achieve a move is to take the company private, then relist it.More pertinent are worries about the company’s resilience in the face of a U.S. slowdown. U.S. organic growth is slowing from a recent high single-digit percentage clip, while margins have barely improved since 2015, UBS analysts point out. The share price seems to be assuming that Ferguson’s long-run sustainable operating margin is just 5%, according to independent research provider Willis Welby, which argues that this is overly pessimistic.Peltz’s pitch is that he likes to engage with the management of his portfolio companies. Ferguson has responded diplomatically that it looks forward to dialogue, as it does with all shareholders. The mere presence of such a big name has got people excited. The tougher job will be convincing investors that the company’s equity story – twinning organic growth with a strategy of acquiring competitors – is still a winner. That case has yet to be made.To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at©2019 Bloomberg L.P.

  • Reuters2 months ago

    What's at stake for Europe Inc in a trade spat with Washington

    Europe's listed companies are expected to generate 1.2 trillion euros (£1.0 trillion) in revenue from the United States this year, highlighting what's at stake as global trade tensions grow and earnings and economic growth stall. Analysts and investors say that based on revenues, European companies are more vulnerable to a dispute than their competitors in the United States. U.S. President Donald Trump is due to decide by Saturday whether to impose duties on car imports, potentially posing another significant threat to global growth and denting Europe's prized auto sector.

  • Moody's5 months ago

    Boston Scientific Corporation -- Moody's assigns Baa2 rating to Boston Scientific's notes

    Moody's Investors Service ("Moody's") assigned a Baa2 rating to the new senior unsecured notes offering of Boston Scientific Corporation ("Boston Scientific"). There are no changes to Moody's existing ratings of Boston Scientific including the Baa2 senior unsecured long-term rating and the Prime-2 short-term rating. Boston Scientific's Baa2 senior unsecured ratings reflects its meaningful scale in the medical device industry with revenues of approximately $10 billion.

  • Thomson Reuters StreetEvents6 months ago

    Edited Transcript of BTG.L earnings conference call or presentation 13-Nov-18 9:30am GMT

    Half Year 2019 BTG PLC Earnings Presentation

  • Gold ETF Holdings Are on the Rise
    Market Realist7 months ago

    Gold ETF Holdings Are on the Rise

    According to a report by the World Gold Council (or WGC), holdings in gold ETFs rose for the second consecutive month in November to 21.2 tons to a total of 2,365 tons. It also said that the global gold-backed ETF flows are now positive in US dollar (UUP) terms for the year. ETF flows were positive for the first time in four months. The renewed buying interest from investors was on account of increased market volatility and the equity market sell-off.

  • Moody's8 months ago

    Boston Scientific Corporation -- Moody's affirms Boston Scientific's Baa2 senior unsecured rating, stable outlook

    Moody's Investors Service ("Moody's") today affirmed Boston Scientific Corporation's Baa2 senior unsecured ratings and its Prime-2 commercial paper rating. The affirmation of the ratings follows Boston Scientific's announcement that it has reached an agreement to acquire BTG Plc, a UK-based medical products company. Under the terms of the offer, Boston Scientific will acquire BTG for approximately GBP 3.3 billion ($4.2 billion at current exchange rates).

  • Reuters8 months ago

    Brexit woes push FTSE to three-week lows; investors dump banks, oil

    UK shares fell to three-week lows on Tuesday as investors dumped financial, oil and mining stocks amid renewed fears about Brexit and Rome's budget showdown with Brussels, and Wall Street gloom across tech and retail spread across Europe. The FTSE 100 (.FTSE) ended the day down 0.8 percent, its third straight daily loss, with sentiment also hurt by heavy losses in the euro zone after a report Apple has cut production triggered a global rout in tech stocks. While the political drama of last week has largely calmed, investors worried anew about UK Prime Minister Theresa May's struggle to get her draft Brexit deal passed in Brussels and at home, with banks bearing the brunt of the selling.

  • TheStreet.com8 months ago

    Boston Scientific to Buy Britain's BTG for $4.2 Billion

    Boston Scientific Corp. on Tuesday agreed to buy British healthcare company BTG plc in a $4.2 billion deal. The Marlborough, Mass.-based medical device maker offered $10.77 for each BTG share, representing a premium of 36.

  • Reuters8 months ago

    Boston Scientific builds medical tech with $4.2 billion BTG deal

    U.S. medical device maker Boston Scientific Corp (BSX.N) has agreed to buy Britain's BTG Plc (BTG.L) for 3.3 billion pounds in cash, adding technology to fight cancer and other serious diseases to its portfolio. Boston Scientific - best known for making stents to prop open clogged heart arteries - has agreed to pay 840 pence per share, representing a premium of 36.6 percent to BTG's previous closing price, the companies said on Tuesday. Shares of BTG soared by a third to 825p by 1200 GMT after touching 832p, their highest level since Jan. 2015.

  • Brexit Makes a $4.2 Billion Black Friday Bargain
    Bloomberg8 months ago

    Brexit Makes a $4.2 Billion Black Friday Bargain

    Boston Scientific Corp. has seen its chance and agreed to buy London-based BTG Plc for 3.3 billion pounds ($4.2 billion). If the deal is consummated, the British maker of medical devices will join the growing list of internationally-flavored U.K. companies falling prey to overseas bidders. This has been a rough year for BTG.

  • Reuters8 months ago

    Boston Scientific offers to buy UK's BTG for about $4.24 billion

    U.S. medical device maker Boston Scientific Corp said it offered to buy British pharmaceutical firm BTG Plc for about 3.3 billion pounds ($4.24 billion) in cash. The offer of 840 pence in cash per share represents a premium of 36.6 percent to BTG's close of 615 pence on Monday. BTG said it plans to recommend the deal to its shareholders as it considers the terms to be fair and reasonable.

  • Brexit, trade progress drive European stocks up after tech rout
    Reuters8 months ago

    Brexit, trade progress drive European stocks up after tech rout

    European shares recovered on Tuesday as hopes for an easing of the Sino-U.S. trade war and an imminent Brexit deal chased away the previous session's fears of a peak in tech stocks. The pan-European STOXX 600 (.STOXX) rose 0.7 percent in a broad-based recovery with Germany's DAX (.GDAXI) up 1.3 percent as investors turned to some strong results and tech stocks recovered. Europe's tech sector (.SX8P) jumped 1.7 percent, having tumbled sharply in the previous session when Wall Street's tech stocks sank on fears that sales of Apple's iPhone have peaked.

  • All You Need To Know About BTG plc’s (LON:BTG) Financial Health
    Simply Wall St.8 months ago

    All You Need To Know About BTG plc’s (LON:BTG) Financial Health

    Stocks with market capitalization between $2B and $10B, such as BTG plc (LON:BTG) with a size of UK£2.3b, do not attract as much attention from the investing community as do Read More...

  • Reuters8 months ago

    European shares rebound as trade hopes chase tech scares

    European shares rose in early deals on Tuesday as hopes for a de-escalation of the Sino-U.S. tariff war chased the previous session's fears about a possible downfall of technology stocks after suppliers of Apple cut their forecasts. The pan-European STOXX 600 gained 0.8 percent by 0834 GMT despite Wall Street's main indexes sustaining heavy losses on Monday. Europe's tech sector rose 1.2 percent after falling 3.7 percent during the previous session in New York when the Nasdaq had fallen more than two percent.

  • These Mid-Tier Gold Miners Have Been Outperforming since 2015
    Market Realist8 months ago

    These Mid-Tier Gold Miners Have Been Outperforming since 2015

    As we have followed the gold market over the years, there are three companies that stand out for their persistent ability to create value. Mid-tier producers Agnico Eagle Mines (4.1% of net assets*), B2Gold (6.8% of net assets*), and Randgold, have been able to grow their businesses through accretive acquisitions and exploration success. Randgold and B2Gold have become adept at mitigating geopolitical and social risk with successful operations in Mali, Democratic Republic of Congo (DRC), Ivory Coast, Namibia, Nicaragua, and the Philippines.

  • Simply Wall St.9 months ago

    With An ROE Of 1.4%, Has BTG plc’s (LON:BTG) Management Done Well?

    One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return Read More...

  • Reuters9 months ago

    BTG Pharma upgrades sales guidance after strong first half

    Pharmaceutical firm BTG (BTG.L) upgraded its sales forecast on Thursday after it included its varicose vein treatment Varithena in its oncology and vascular portfolio and saw strong demand for its tumour-targeting medicines. It had guided to flat to single digit percentage declines in pharmaceutical sales this year when it published its full-year results in May.