- (PLX AI) - Ambu shares fell 8% at the open after the company softened its full-year outlook only 3 months after initially issuing it, and after organic growth faltered in the first quarter of the fiscal year.
- • Ambu posted organic growth decline of 1% in the first quarter and cut its outlook for FY organic growth to "15% or higher" from 15-19% previously
- • Also cut FY outlook for EBIT margin to "7% of higher" from 7-9% previously
- • The original outlook had already been seen as soft, with shares falling 5% on the day it was first given in November
- • Soft guide already in the first quarter was not taken well, as it indicates that management is more cautious about 2022, analysts at Bank of America said
- • Ambu needs to reverse trend in average selling prices before investors gain confidence in the stock again, BofA said, which has an underperform rating on the company
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