Nobel Biocare Holding AG (NOBN), the world’s second-biggest dental implant maker, rose the most in seven weeks after first-quarter profit beat analysts’ estimates, helped by currency effects in North America and Asia.
Nobel Biocare rose as much as 9.2 percent, the most in seven weeks, and was trading up 4.3 percent at 11.16 francs at 12:09 p.m. in Zurich trading.
Earnings before interest and tax climbed to 20.8 million euros ($27.4 million) from 19 million euros excluding one-time items a year earlier, the Glattbrugg, Switzerland based-company said in a statement today. Analysts had expected Ebit of 17.5 million euros, according to the average of 12 estimates in a Bloomberg survey.
“It’s one of the quarters where Nobel Biocare exceeded expectations for profit, which they used to miss regularly,” said Khon Quang, an analyst with Jefferies International Ltd. Nobel Biocare’s margin was 2.5 percentage points above his estimate. “We believe the stock is trading on the positive margin beat relative to expectations.”
To contact the reporter on this story: Allison Connolly in Frankfurt at firstname.lastname@example.org
To contact the editor responsible for this story: Phil Serafino at email@example.com