Mauna Kea: targets maintained, but share price falls

(CercleFinance.com) - The share price of medical device manufacturer Mauna Kea plummeted on the stock market on Friday, despite confirmation of its annual outlook, which nonetheless appears difficult to achieve.


The French group, which created the 'Cellvizio' real-time in vivo cell imaging platform, announced last night that its sales had fallen by 20% in the second quarter.

For the first six months of the year as a whole, its revenues were down by 19%.

In a press release, Mauna Kea explains that its activity over the past quarter was affected by an unfavorable basis for comparison, but says it expects system sales to accelerate over the rest of the year in the USA.

Expecting sales to catch up in the second half of the year, the company is confident of achieving its sales growth target of over 20% by 2024.

Investors seemed a little more skeptical, and the share price was down nearly 9% by mid-day Friday, among the red lanterns of an upwardly-trending Paris market.

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