BUZZ-Fisher & Paykel Healthcare's Australian shares fall on device recall

Reuters03-28

** Fisher & Paykel Healthcare Corp's Australian shares

fall as much as 3.1% to A$23.570, their lowest since March 22

** Stock currently down 1.5%, faces worst day since March 15 if losses hold

** Medical equipment supplier initiates voluntary limited recall of batches of Airvo 2 and myAirvo 2 devices manufactured before Aug 14, 2017

** Co says recall relates to speaker configuration issue that may result in distorted, intermittent or inaudible alarm sound levels

** Co estimates costs associated with recall will be approximately NZ$12 mln ($7.18 mln)

** FPH's NZX-listed shares down 0.5%, face worst day since March 15 if losses hold

** Stock had risen 11.5% this year, as of last close

($1 = 1.6717 New Zealand dollars)

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment