NMC.L - NMC Health Plc

LSE - LSE Delayed price. Currency in GBp
1,383.00
+23.00 (+1.69%)
At close: 4:36PM GMT
Stock chart is not supported by your current browser
Previous close1,360.00
Open1,371.50
Bid1,376.50 x 0
Ask1,378.00 x 0
Day's range1,331.00 - 1,400.00
52-week range1,192.00 - 3,059.00
Volume857,575
Avg. volume1,639,249
Market cap2.886B
Beta (5Y monthly)0.37
PE ratio (TTM)10.72
EPS (TTM)129.00
Earnings date05 Mar 2020 - 09 Mar 2020
Forward dividend & yield0.18 (1.34%)
Ex-dividend date13 Jun 2019
1y target est54.44
  • How Muddy Waters Is Hammering Indian Billionaire’s NMC Health
    Bloomberg

    How Muddy Waters Is Hammering Indian Billionaire’s NMC Health

    (Bloomberg) -- After seeing its market value soar to more than $10 billion less than two years ago, NMC Health Plc is now struggling to cling on to investors. The Middle Eastern hospital operator, founded by billionaire Bavaguthu Raghuram Shetty, is in the spotlight after Carson Block’s Muddy Waters Capital claimed it’s understating debt and overstating cash. Shares in the firm and one of its sister companies have slumped.The accusations in a Dec. 17 report, which NMC denies, have sent the London-listed firm’s market value plummeting 48% to 2.8 billion pounds ($3.7 billion) and have helped wiped $1.5 billion off the Shetty family’s fortune.Trading in the London-listed company has surged to an average of almost 2.5 million shares a day, from around 560,000 in the preceding three months. Its share price has fallen 24% this year to 13.48 pounds.What are the allegations against NMC?Insufficient disclosure of related-party transactions, manipulation of the balance sheet and inflated asset purchases are some of Muddy Waters’s most serious allegations. NMC’s $107 million redevelopment of NMC Royal Women’s Hospital in Abu Dhabi “contains numerous red flags,” the short seller said. NMC also appears to have paid too much for a stake in Premier Care Home Medical and Health Care LLC, based in the same city, the report alleged.NMC’s margins are “too good to be true” relative to peers, said Muddy Waters, which is shorting the company’s stock. “We are unsure how deep the rot at NMC goes, but we do not believe that its insiders or financials can be trusted.”How has NMC responded?NMC said the report was “false and misleading.” The company approached the U.K.’s Financial Conduct Authority with evidence it says shows that a number of hedge funds acted together to bring down the share price. It announced share buyback of as much as $200 million and hired former FBI Director Louis Freeh to look into Block’s claims.What else is rattling investors?Emirates NBD PJSC sold 1.04% of NMC last week at a price of 14.04 pounds. The proceeds will be used to repay a loan taken on by Infinite Investment LLC. Earlier this month, two major shareholders offloaded nearly $500 million worth of stock at below the market price. NMC’s Executive Vice Chairman Khalifa Bin Butti had pledged the shares as collateral against loans, according to a December 2017 filing. Proceeds from the sale will be used to pay down debt.The Muddy Water’s allegations follow the 2018 collapse of Dubai-based buyout firm Abraaj Group, which investors accused of extensive corporate governance failures. NMC is the only FTSE 100 company from the Middle East -- and now the smallest member by market value. The claims against NMC may be a further blow for the region, which has been trying to diversify from oil and attract investors.What’s happening with Shetty’s other investments?Indian-born Shetty has set up a business empire spanning healthcare and financial services. His holdings have taken a hit since the Muddy Waters report. He created Finablr in 2018 to consolidate his payments and money-trading brands such as Travelex Holdings Ltd. and the UAE Exchange Centre LLC. The holding company, which was listed in London in May, has seen its shares crash 44% in 2020, while a cyberattack has rocked Travelex.Is there any upside?NMC has re-affirmed its 2019 and 2020 forecasts and many analysts covering it still have a buy rating. Investors like The Capital Group Companies and Krupa Global Investments have boosted their stakes in the company.Finablr plunges after share pledgeEx-FBI head hired to probe Muddy Watters allegationsSee video on NMC share plungeTo contact the reporter on this story: Archana Narayanan in Dubai at anarayanan16@bloomberg.netTo contact the editors responsible for this story: Stefania Bianchi at sbianchi10@bloomberg.net, Paul WallaceFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Family’s Fortune Tumbles $1.5 Billion Since Muddy Waters Attack

    (Bloomberg) -- The year is starting off much like the last one ended for the Shetty family.The billionaire clan behind financial services firm Finablr Plc and hospital operator NMC Health Plc has seen its fortune drop more than $1.5 billion since it came under fire in December from short seller Carson Block.The latest blow came Friday after a filing revealed the Shettys pledged more than half their stake in Finablr to secure loans. The payment processor’s shares tumbled as much as 34% in London.A spokesman for the family had no immediate comment when reached by email.The family’s troubles began last month when Block’s Muddy Waters Capital issued a report criticizing NMC’s accounts and disclosing a short position, sending shares down. Since then, a cyberattack rocked one of Finablr’s popular brands -- Travelex Holdings Ltd. -- and NMC plunged again after investors sold shares worth almost $500 million. The health-care firm has named former FBI Director Louis Freeh to examine Block’s claims.Bavaguthu Raghuram Shetty, 77, founded NMC in 1975 after moving to Abu Dhabi from his native India. It’s now the United Arab Emirates’ biggest private health-care provider. He created Finablr in 2018 to consolidate his finance brands and listed the company on the London Stock Exchange last year.The family’s stakes in both firms were worth almost $3 billion before Muddy Waters published its report, but they have been cut in half since, according to the Bloomberg Billionaires Index.\--With assistance from Lisa Pham.To contact the reporter on this story: Ben Stupples in London at bstupples@bloomberg.netTo contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Steven Crabill, Peter EichenbaumFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Financial Times

    Softcat managing director banks £1.5m

    Good news, then, for Softcat, a provider of IT infrastructure technology and services, which Jefferies says is in “a strong position” to benefit from said spending, given the work it has put into scaling up its public sector business. Gross profit — which Softcat sees as its main measure of income performance and growth — rose by about a fifth over the same period to £211m. At the time of these results, Softcat said it was in “great health” and “strategically well-positioned” — a description ostensibly proved accurate by the group’s November 2019 trading update, which revealed year-over-year growth in revenues, gross profits and operating profits for the first quarter.

  • Insider Buying: The NMC Health Plc (LON:NMC) Independent Non Executive Director Just Bought US$50k Worth Of Shares
    Simply Wall St.

    Insider Buying: The NMC Health Plc (LON:NMC) Independent Non Executive Director Just Bought US$50k Worth Of Shares

    Even if it's not a huge purchase, we think it was good to see that Patrick Meade, the Independent Non Executive...

  • Bloomberg

    Ex-FBI Head Hired by NMC Health to Probe Short-Seller Allegations

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.NMC Health Plc hired former FBI Director Louis Freeh to investigate allegations by short seller Muddy Waters Capital LLC of financial wrongdoing by the hospital operator.The appointment is part of NMC’s effort to restore investor confidence. The company’s shares have plunged 44% since Muddy Waters said in a Dec. 17 report that NMC’s financial statements hint at potential overpayment for assets, inflated cash balances and understated debt. The stock rose as much as 7.8% Friday in London.NMC, which previously called the allegations “unfounded, baseless and misleading,” last month appointed a committee of independent board members to look into the matter. The panel is focusing its review initially on confirmation of the company’s cash balances as of Dec. 15, the United Arab Emirates-based company said in a statement Friday.“The committee chose Freeh Group to provide a completely independent, unbiased, comprehensive and transparent report that will address all of these allegations,” said Jonathan Bomford, chairman of the committee.Muddy Waters, led by Carson Block, also alleged that NMC’s independent directors aren’t truly independent, and that the company appears to be doing business with entities controlled by its leading shareholders without properly disclosing it.The short-selling firm made headlines last year with reports criticizing both NMC and Burford Capital Ltd., a litigation-finance company. Muddy Waters has also issued critical reports on companies including French retailer Casino-Guichard Perrachon SA.Freeh, a former FBI agent and federal judge, ran the U.S. law-enforcement agency from 1993 to 2001. His risk-management firm, Freeh Group International Solutions LLC, includes former senior law enforcement officials, accountants and security and compliance experts. He also runs an affiliated law firm.His corporate clients have included Wynn Resorts Ltd., cryptocurrency firm Tether Ltd. and a pharmaceutical-industry group.“We had expected NMC to appoint an accounting firm, but it may have opted for a third party with a wider range of expertise given the governance-related allegations made against it,” Morgan Stanley analyst Saul Rans said in a report.NMC climbed 6% to 1,528.50 pence at 8:17 a.m. in London.(Updates to add stock move in second paragraph.)\--With assistance from Lisa Pham.To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.netTo contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, John LauermanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Financial Times

    NMC hires former FBI director to investigate Muddy Waters claims

    NMC Health has appointed a former high-profile FBI director to carry out an investigation into allegations over financial irregularities at the FTSE 100 healthcare provider made by a US short seller.

  • Financial Times

    Markets not live, Thursday 16th January 2020

    Since we’re on Tesla watch, the world’s most fascinating auto OEM has sold a few cars in California and might buy some cobalt from the world’s largest producer of cobalt. Also, Morgan Stanley’s Adam “Fanchart” Jonas has chucked in the towel.

  • Dubai’s Amanat Weighs Acquiring VPS Healthcare Stake
    Bloomberg

    Dubai’s Amanat Weighs Acquiring VPS Healthcare Stake

    (Bloomberg) -- Amanat Holdings PJSC, the Dubai-based investment firm, is considering acquiring a stake in Middle Eastern hospital operator VPS Healthcare Group.The talks are an early stage and a deal is dependent on commercial and business reviews, Amanat said in a statement on Sunday after Bloomberg reported the companies are in negotiations. Amanat is working with JPMorgan Chase & Co. on the deal.Amanat is seeking to grow its health-care portfolio in the Middle East as it expects the sector expand at a compound annual growth rate of 6.7% by 2022. It sees government health-care spending to rise to $30.5 billion by 2021.Still, the potential deal comes at a challenging time for regional hospital operators. NMC Health Plc, a larger London-listed rival, has been facing allegations by Carson Block’s Muddy Waters Capital LLC that the company’s financial statements hint at potential overpayment for assets, inflated cash balances and understated debt. NMC has called those claims are unfounded and vowed to conduct an independent review.Shares of Amanat have lost 48% of their value from their January 2018 peak, giving the company a market value of 1.96 billion dirhams ($532 million) in Dubai.Amanat has investments in hospitals and schools in Saudi Arabia and the United Arab Emirates. It appointed Tristan de Boysson as chief executive officer last year.To contact the reporters on this story: Dinesh Nair in London at dnair5@bloomberg.net;Archana Narayanan in Dubai at anarayanan16@bloomberg.net;Nicolas Parasie in Dubai at nparasie1@bloomberg.netTo contact the editors responsible for this story: Stefania Bianchi at sbianchi10@bloomberg.net;Ben Scent at bscent@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • NMC Drops After Two Investors Sell Stake Below Market Price
    Bloomberg

    NMC Drops After Two Investors Sell Stake Below Market Price

    (Bloomberg) -- NMC Health Plc plunged after two major investors sold $493 million worth of shares well below the market price to reduce their holdings in the troubled health-care group.The stock fell as much as 20% in London. Former director Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Executive Vice Chairman Khaleefa Butti Omair Yousif Ahmed Al Muhairi together sold about 15% of NMC for about 1,200 pence a share.The hospital operator had a rocky end to 2019 as shares slumped following allegations by Carson Block’s Muddy Waters Capital LLC. The short-selling firm said the company’s financial statements hint at potential overpayment for assets, inflated cash balances and understated debt.NMC has said that those claims are unfounded and that it will conduct an independent review. Based in the United Arab Emirates, the company owns and operates hospitals in the Middle East.Khaleefa Bin Butti had pledged NMC shares as collateral against loans, according to a December 2017 filing. The sale may therefore remove a potential overhang on the stock, Morgan Stanley analyst Saul A Rans wrote in a note.The share sale “pertains only to the means of financing the investors’ shareholdings and not to the company’s operating performance nor long-term prospects,” and both remain long-term holders of NMC, the company said in a statement.The two investors will retain a combined stake of about 17% in the company and agreed to place their remaining shares in a temporary lock-up. Proceeds from the sale will be used to pay down debt.Credit Suisse announced the sale Tuesday after the close of London trading. The investors also offered for sale about $75 million worth of shares in Finablr Plc, owner of the Travelex currency exchange service that recently came under a ransomware attack. Finablr shares dropped as much as 20%.Both NMC Health and Finablr were founded by Abu Dhabi-based billionaire Bavaguthu Raghuram Shetty.(Updates with shares pledged as collateral in fifth paragraph)\--With assistance from Lisa Pham.To contact the reporter on this story: Marthe Fourcade in Paris at mfourcade@bloomberg.netTo contact the editors responsible for this story: Eric Pfanner at epfanner1@bloomberg.net, John LauermanFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • How Does NMC Health's (LON:NMC) P/E Compare To Its Industry, After The Share Price Drop?
    Simply Wall St.

    How Does NMC Health's (LON:NMC) P/E Compare To Its Industry, After The Share Price Drop?

    Unfortunately for some shareholders, the NMC Health (LON:NMC) share price has dived 33% in the last thirty days...

  • Business Wire

    NMC HEALTH ALERT: Bragar Eagel & Squire, P.C. is Investigating NMC Health PLC on Behalf of Stockholders and Encourages Investors to Contact the Firm

    Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against NMC Health PLC (Other OTC: NMHLY) on behalf of NMC Health PLC stockholders. Our investigation concerns whether NMC Health PLC has violated the federal securities laws and/or engaged in other unlawful business practices.

  • Business Wire

    INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against NMC Health Plc and Encourages Investors with Losses to Contact the Firm

    INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against NMC Health Plc.

  • Short Seller Muddy Waters Ends Busy Year With NMC Share Plunge
    Bloomberg

    Short Seller Muddy Waters Ends Busy Year With NMC Share Plunge

    (Bloomberg) -- Short seller Carson Block has had mixed results in 2019, but he’s ending the year with a bang.Shares of NMC Health Plc, the Middle Eastern hospital operator that’s Block’s latest target, have slumped 33% since his Muddy Waters Capital LLC said Dec. 17 that the company is understating its debt and overstating its cash. NMC Health denied wrongdoing, said it would hire an accounting firm for a review and would pursue regulatory action against third parties that have tried to manipulate the share price.The bet has been one of his most successful this year. Block, who made his name shorting Chinese shares, has targeted seven companies in 2019. That’s the most in the almost 10 years he’s been in the business, based on his publicly disclosed positions. While four of the stocks are down, two targets in Asia and one in Germany recovered from initial losses.With equity markets at records, Muddy Waters is finding “more large, liquid problematic companies than before, but at the same time, increasing levels of investor apathy,” Block said by email.“If you look at all the Muddy Waters stuff, no matter what you think of them, when they start their work on things there is something which triggers their work and that raises questions,” said Ian Ormiston, a fund manager at Merian Global Investors in London. “There are still hundreds of companies out there that probably merit attention.”Here’s a round-up of Muddy Waters’ short targets in 2019 and how the shares fared:NMC Health (report on Dec. 17)In a sign of how seriously investors are taking his critique of London-listed NMC Health, trading in the stock has surged to an average of almost 4 million shares a day since the report, compared with 563,000 daily in the preceding three months. The company said the report is “false and misleading,” adding that it has a “track record of significant, open and increasingly detailed disclosure to the market.” NMC Health bought back shares the day after the report was published.PeptiDream (report on Nov. 6)Shares in Tokyo-listed PeptiDream Inc. fell 4% on Nov. 7 but have recovered and are up 5.8% since the short seller questioned the level of activity at the company’s drug development partnerships with pharmaceutical companies. PeptiDream disputed the contents of the report, saying it holds a “completely different view.” The company said its 101 programs are all active programs, with no dead or dormant ones.Corestate (position disclosed on Oct. 16)Corestate Capital Holding SA fell 19% in Frankfurt the day Muddy Waters revealed in a filing that it’s shorting the real estate company. It’s erased the losses and now is up 2.9% since the disclosure. The firm didn’t publish a report outlining its case, a new approach Muddy Waters has taken in France and Germany. Regulators in those countries have responded to short sellers’ reports of corporate misdeeds by investigating the short sellers for possible market manipulation. Corestate routinely declines to comment on investor motives, a spokesman said at the time.Burford Capital (report on Aug. 7)London-listed Burford Capital Ltd. slid 46% on Aug. 7 after Muddy Waters said the litigation-finance company overstates the returns on its investments and has questionable financial reporting and governance. The stock is still down 36% since the report. Burford said the short seller’s critique was “false and misleading.” Chief Executive Officer Christopher Bogart and Chief Investment Officer Jonathan Molot bought shares in the days after the report was published, and named a new chief financial officer to replace Elizabeth O’Connell, who is married to Bogart.Anta Sports (report on July 7)Anta Sports Products Ltd. has surged 28% in Hong Kong since Muddy Waters said it’s shorting the stock because of concerns over its financial reporting and relationship with distributors. Anta said the report contained “untrue and misleading information.” Other short sellers also have failed in efforts to deflate the stock.Solutions 30 (position disclosed on May 18)Solutions 30 SE dropped 25% on the first day after a filing showed Muddy Waters was shorting shares in the Paris-listed technology-services company, and it’s still down 18%. It’s another case in which the short seller didn’t publicly discuss its investment thesis. France’s market regulator investigated Muddy Waters for a 2015 report detailing its bearish investment thesis on Casino Guichard-Perrachon SA; the watchdog closed the probe this month with a warning to both Muddy Waters and Casino. Solutions 30 said it remains confident in its business model.Inogen (report on Feb. 8)Inogen Inc. ended the day down 2.2% in New York after the short seller’s report, but it’s now fallen 51%. Muddy Waters said the health-care product supplier will likely hit peak sales this year if not in 2020. The company subsequently cut its 2019 revenue forecast twice, each time below the lowest analyst estimate.To contact the reporter on this story: Lisa Pham in London at lpham14@bloomberg.netTo contact the editors responsible for this story: Beth Mellor at bmellor@bloomberg.net, Phil Serafino, Namitha JagadeeshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Business Wire

    INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against NMC Health Plc and Encourages Investors with Losses to Contact the Firm

    INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against NMC Health Plc.

  • Business Wire

    EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against NMC Health Plc – NMHLY

    Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of NMC Health Plc (OTC: NMHLY) resulting from allegations that NMC Health may have issued materially misleading business information to the investing public.

  • Stocks Rise On Trade Optimism, Santa Rally Begins, China To Cut Tariffs
    FX Empire

    Stocks Rise On Trade Optimism, Santa Rally Begins, China To Cut Tariffs

    U.S. stocks are set to rise as the traditional period for the Santa Claus rally begins.