Stryker's (SYK) Modular Hip Recall Could Impact Wright Medical (WMGI) - Analyst
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Price: $29.98 --0%
Rating Summary:
9 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Wright Medical (Nasdaq: WMGI) shares are hitting the skids today, falling to multi-month lows following the recall of Stryker's (NYSE: SYK) Rejuvenate and ABG II Modular-Neck Hip Implant Stems due to potential corrosion.
Though the recall was made a few days ago, Jefferies issued comments today highlighting the impact on Wright Medical.
The Stryker recall is likely to spark concerns over Wright Medical's Profemur hips. The analyst noted that Stryker's implants used a softer metal and it wasn't clear whether the stiffer titanium alloy used by Wright Medical would lessen the risk of corrosion.
However, Jefferies said it sees risk that all modular hip implants are likely to be affected following the recall.
The Profemur line accounts for most of Wright Medical's hip replacement sales.
Shares are down over 5 percent on the session Wendesday.
Though the recall was made a few days ago, Jefferies issued comments today highlighting the impact on Wright Medical.
The Stryker recall is likely to spark concerns over Wright Medical's Profemur hips. The analyst noted that Stryker's implants used a softer metal and it wasn't clear whether the stiffer titanium alloy used by Wright Medical would lessen the risk of corrosion.
However, Jefferies said it sees risk that all modular hip implants are likely to be affected following the recall.
The Profemur line accounts for most of Wright Medical's hip replacement sales.
Shares are down over 5 percent on the session Wendesday.
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