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DANMARKS STØRSTE INVESTORSITE MED DEBAT, CHAT OG NYHEDER

Demant Falls 4% After Cochlear Implant Recall

14/10 08:45


  • (PLX AI) – Demant shares were down 4% in morning trading after the company recalled Neuro Zti cochlear implants and temporarily halted sales after performance issues.
  • • Demant expects no further sales of new cochlear implants in 2021, and the temporary halt in sales is likely to extend into 2022
  • • 28 implants have already either been explanted or were under surveillance to be explanted, the company said
  • • The temporary sales stoppage may reduce group sales by DKK 110-120 million this year (of 0.6% of the total company sales) and potentially by a modestly higher amount next year, analysts at Carnegie estimated
  • • The recall is bad news, but when considering the size of Oticon Medical, it is not a game changer for the investment case, SEB said