NAN -33.41%: the disinfectant device company fell to 5-year lows today after they flagged slow sales after market yesterday. Their TROPHON product, used on ultrasound transfusers, has seen upgrades in the first half down 22.5% on 1HFY23, and new installed units dropped 13.4%. The company has blamed tighter budgets in hospitals and longer sales cycles pushing out deals into the second half for the soft performance. They’re continuing to work on bringing its new CORIS product, used on endoscopes, to market, a much-delayed process that is still awaiting FDA approval. While the product is a market leader, Nanosonics is facing some headwinds market-wise and of their own creation.
MM is neutral/negative NAN, though it will look more interesting ~$2.50
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