Ambu slumps as Endoscopy segment lags expectations

Ambu A/S

30/08/2024 09:05

** Shares in Ambu  AMBUb.CO  drop around 14% after the
Danish medical equipment maker posted its Q3 print, with
analysts pointing to lower than expected results in its
Endoscopy Solutions segment
    ** "It's a combination of disappointing organic growth
within their Endoscopy Solutions – especially the pulmonology
business - and the fact that this year Ambu has some very good
beats," Sydbank analyst Soren Lontoft Hansen says 
    ** He adds that investors are concerned whether Ambu can
meet expectations and drive organic growth in pulmonology
    ** J.P.Morgan adds that Ambu pre-announced its results and
guidance last month, so the market focus is on the details of
growth 
    ** "If one were to nitpick, Endoscopy came up a touch short,
offset by better growth in Anaesthesia, but this is probably
offset by better gross margins," says JPM
    ** If losses hold, the stock will see its worst day since
November 2022; it is the worst performer on Europe-wide STOXX
600  .STOXX  index
    

 (Reporting by Jesus Calero and Jagoda Darlak)
 ((Jesus.calero@thomsonreuters.com))