CellaVision AB (publ) CEVI
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The news check keeps the assessment current.
General analysis — not personal advice.
Maintain the current position; consider adding only if Q3 shows a clear EMEA recovery and stable cash generation, or if there is tangible commercial/regulatory progress for the bone marrow application in the US.
Strong Q3 report and improved profitability confirm recovery but uncertainty around EMEA and regulatory timing supports maintaining HOLD.
Sentiment has strengthened after the report release with positive reaction to the earnings beat and regional growth.
HOLD is the call. Positive is the market mood. Medium risk means some things can go wrong.
Latest change
- 30 Oct 2026 — The report shows stronger-than-expected results driven by regional growth in Americas and APAC plus margin improvement.
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Show all changes (4) — follow the company freeAbout the company
CellaVision develops and sells automated systems and software for digital image analysis of blood and body fluids in hematology. The company is profitable with low leverage and moderate growth, with new applications (e.g., bone marrow) expanding its addressable market. Sales are global and often routed through OEM/distribution partners.
Bull case
Strong demand in Americas and improved profitability can drive re-accelerated growth once EMEA normalizes.
Bear case
If the EMEA recovery drags on or margins remain volatile, valuation could stay under pressure.
Why this signal
Strong Q3 report and improved profitability confirm recovery but uncertainty around EMEA and regulatory timing supports maintaining HOLD.
Recent news
Q3 report showed revenue of 200 MSEK and EBITDA of 64 MSEK, both above expectations, with organic growth of 13.4 %. Americas rose 32 % and APAC 90 % while EMEA fell 10 %. Several analysts raised target prices to 185–205 SEK with buy recommendations. FDA decision on the bone marrow application is expected before year-end and a capital markets day is scheduled for 17 February 2027.