|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||79.65 - 80.85|
|52 Week Range||40.12 - 110.50|
|Beta (5Y Monthly)||1.56|
|PE Ratio (TTM)||26.59|
|Earnings Date||Jul 24, 2020|
|Forward Dividend & Yield||4.00 (4.96%)|
|Ex-Dividend Date||Apr 17, 2020|
|1y Target Est||122.75|
Sulzer AG (OTC: SULZF) announced Monday it is purchasing Swiss-German drug delivery device company Haselmeier for $118 million.What Happened: Sulzer said the acquisition will boost its own healthcare portfolio, and Haselmeier's expertise in precision injection molding can help it grow in the drug delivery devices market, according to a company-issued statement.Haselmeier employs 230 people and recorded sales of $45.5 million in 2019. The company is a provider of devices such as subcutaneous self-injection pens used for reproductive health, growth disorders, osteoporosis, and diabetes.Why It Matters: Sulzer's applicator systems business has been severely affected due to the COVID-19 pandemic, according to the company.The applicators division manufactures devices for adhesives in the beauty sector, car industry, and healthcare.In June, Sulzer announced it was acquiring 25% of Tamturbo Plc, a Finnish company that makes oil-free air compressors. A month later, the company's CEO Greg Poux-Guillaume said the company had a "very strong balance sheet" and could spend up to $1.5 billion on deals."We have a bit of firepower to make acquisitions," Poux-Guillaume said at the time, as per Reuters.Price Action: Sulzer OTC shares closed 5.11% lower at $84.45 on Friday.Photo courtesy: Sulzer AG via WikimediaSee more from Benzinga * Google Filings With FCC For Two Streaming Devices Hint At New Android TV product * Twitter Restricts Trump's 'Mail Drop' Tweet, Says President Made Misleading Health Claims * AstraZeneca's Coronavirus Vaccine Could Get FDA Approval For Emergency Use By October: FT(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The maker of industrial pumps and dental applicators expects the oil and gas market to remain difficult, but saw some relief as COVID-19 restrictions are lifted, boosting other parts of its business, Chief Executive Greg Poux-Guillaume said. "Sulzer sales are usually 10% higher in the second half of the year than they are in the first half of the year," Poux-Guillaume told reporters. "When we look at how our businesses are behaving, we think it will be a similar order of magnitude this year."