Ambu shares plummet on disappointing earnings

Investing.com -- Shares in Ambu (CSE:AMBUb ) slumped on Friday following the Danish medical equipment maker's third-quarter earnings report, with analysts citing lower-than-expected results in the Endoscopy Solutions segment, Reuters reported.

At 4:58 am (0858 GMT), Ambu was trading 12.8% lower at DKK 133.6. 

Sydbank analyst Soren Lontoft Hansen said the disappointing organic growth, particularly in the pulmonology business, combined with high expectations from earlier strong performances this year, has led to investor concerns about Ambu's ability to meet future growth targets, the report said. 

Reuters also added that J.P. Morgan noted the company's pre-announcement of results and guidance last month, which shifted market focus to growth details. 

While Endoscopy fell slightly short, this was balanced by better growth in the Anaesthesia segment and improved gross margins, according to JPM, the report said.

Source: Investing.com