Medical device company FPH was the market’s worst performer yesterday falling almost 8% after management outlined how its business had been impacted by the Omicron variant plus heavy freight costs – an estimated drop in full-year revenue of up to 15% rarely goes down well. The stock was in vogue during the outbreak of the coronavirus due to its respiratory care products but its not delivered the lift in profits many expected, we see value in the stock back towards $20, where it was pre-COVID.
MM is neutral/bearish FPH short-term
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