研報掘金丨華創證券:維持魚躍醫療“推薦”評級,目標價47元
華創證券研報指出,魚躍醫療(002223.SZ)24年歸母淨利潤18.06億元(-24.63%),25Q1歸母淨利潤6.25億元(-5.26%)。血糖管理及POCT解決方案:表現亮眼,CGM快速放量。2024年公司相關業務營收同比增長40.20%,實現高速增長,其中CGM實現翻倍以上增長。2024 年公司新推出的家用呼吸機產品取得消費者廣泛認可,成為公司品類收入快速增長的強勁引擎。在霧化器領域,公司產品通過“精準霧化+場景適配”,佔據領先的市場地位。2024年公司進一步加大新品研發與推廣力度,推出房顫血壓雙測機、新款耳温槍等一系列新品,持續推動公司產品高端化。根據DCF模型測算,給予公司整體估值471億元,對應目標價47元,維持“推薦”評級。
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