Healthcare firm BTG sees shares plunge 10pc after full-year results

Shares in healthcare group BTG (LON:TBG) sunk 10 percent on Tuesday, despite delivering strong results with significant growth for the year to 31st March 2017.

Revenue grew 27 percent to £570.5million, up from £447.5 million the year before. Adjusted operating profit rose to £129.6 million from £93 million over the previous period, with adjusted basic earnings per share rising 5 percent to 23.1p.

Louise Makin, BTG’s CEO, commented: “We have delivered strong double-digit product sales growth and generated significant cash flows, enabling us to invest in product innovation, clinical data, geographic expansion and acquisitions.

“We have a broad portfolio and a scalable platform, and there is momentum across the business. With the financial strength to continue our investment plans, we are well positioned to capture further value in the growing Interventional Medicine space and to deliver sustained business growth.”

BTG shares have seen positive momentum of late, moving up 3.30 percent over the past week and 20.29 percent over the past 4 weeks. However shares plunged 10 percent on Tuesday, despite the strong results, to trade at 652.00 (1208GMT).

BTG’s stock also had its “hold” rating restated by Peel Hunt in a research note issued to investors on Tuesday. The analysts currently have a 630.00  price objective on the stock, suggesting a potential downside of 12.74 percent from the stock’s current price.