MASSDEVICE ON CALL — Medtech giants have seen Wall Street bumps so far this year, but several of the company’s in the industry’s top 40 haven’t been so fortunate.
Medtech and diagnostics supplier QMed unveiled its list of the 5 worst-performing companies among the top 40, based on stock prices, and tried to illuminate why the firms may be struggling.
Number 5 on the list was Fresenius (NYSE:FMS), which is facing a difficult year ahead after dealing with inspection issues and reimbursement pressure from regulators. FMS shares have lost 5.3% since the start of the year. Siemens (NYSE:SI) was the next on the list, with shares down 6.7% amid a weak European market and sluggishness in China.
Medtech titan GE Healthcare (NYSE:GE) came in 3rd, having lost about 6.7% in share value as the division’s sales dropped in 2013. Terumo Corp. (TYO:4543) was 2nd, with shares down 9.4% amid distribution problems in China, declines in its blood management business and the weakening value of the yen.
Getinge (PINK:GETI B) was the hardest hit, with shares down 16.9% as the company’s quality management problems and associated fines it must pay to get its operations up to code following a harsh FDA inspection.
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