Despite Nanosonics' first half results being largely in line with expectations and company guidance, the share price declined -13% following the results release. Sales were up 41% in the half, and momentum appears to have continued into the early second half. 

The share price decline is a continuation of selling pressure that has seen the stock decline -25% in the past month, which Morgans attributes to concern around the GE Health transition and CORSIS commercial launch. 

Morgans notes the stock suits investors with a higher risk profile. The Add rating is retained and the target price decreases to $5.43 from $5.97.

Sector: Health Care Equipment & Services.

Target price is $5.43.Current Price is $4.10. Difference: $1.33 - (brackets indicate current price is over target). If NAN meets the Morgans target it will return approximately 24% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena