US medtech stocks fall as Trump administration opens import probe

Reuters
09/25
US medtech stocks fall as Trump administration opens import probe

Sept 25 (Reuters) - U.S. medtech stocks fell on Thursday after the U.S. Commerce Department opened a probe into imports of medical devices, a move that could ultimately lead to tariffs.

Companies like GE HealthCare GEHC.O, Becton Dickinson BDX.N, Stryker SYK.N, Insulet PODD.O, Intuitive Surgical ISRG.O and ResMed RMD.N were among the worst performers on the S&P Health Care Equipment index .SPLRCMED, down between 3% and 9%.

Abbott ABT.N slipped 1.6% and Medtronic MDT.N fell 1.7%, with the S&P Health Care Equipment index dropping 1.6% on Thursday.

Medtech shares have been volatile this year, pressured by supply chain disruptions, cost inflation and slower demand in some international markets.

Analysts said the probe could have implications for a range of medical technology companies with globally sourced supply chains and could create a modest overhang for the stocks.

Earlier this month, the Secretary of Commerce launched a Section 232 investigation under the Trade Expansion Act of 1962 to assess how imports of personal protective equipment, medical consumables, and medical devices impact national security.

Section 232 allows the President to restrict imports if they are found to "threaten to impair" U.S. national security.

While the list of MedTech products covered is broad, we do not think it is right to hit the panic button in response to the announcement, J.P. Morgan analyst Robbie Marcus said in a note.

The department said it would make recommendations within 270 days.

"The U.S. is home to the world's leading and most innovative medical device industry, and we share the Administration's interest in further strengthening healthcare resilience and manufacturing locally," a GE HealthCare spokesperson said.

Shares in healthcare and industrial sectors across Europe also dipped.

(Reporting by Puyaan Singh, Sneha S K, Mrinalika Roy in Bengaluru; Editing by Tasim Zahid)

((mrinalika.roy@thomsonreuters.com;))

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10