Nihon Kohden (OTCMKTS:NHNKY) Shares Gap Down - Here's What Happened

Key Points

• Nihon Kohden shares gapped down from a previous close of $10.37 to $9.8135, with just 204 shares traded.
• UBS downgraded the stock from “strong buy” to “hold,” and the two-analyst consensus rating is now “Hold.”
• The company missed quarterly earnings expectations, reporting a loss of $0.03 per share versus a $0.06 consensus profit; revenue was $297.47 million, slightly below estimates.

Nihon Kohden Corporation (OTCMKTS:NHNKY - Get Free Report) shares gapped down before the market opened on Friday. The stock had previously closed at $10.37, but opened at $9.8135. Nihon Kohden shares last traded at $9.8135, with a volume of 204 shares traded.

Analyst Upgrades and Downgrades

Separately, UBS Group cut Nihon Kohden from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Nihon Kohden Stock Performance

The company's 50 day moving average is $9.90 and its 200 day moving average is $9.48. The firm has a market cap of $1.65 billion, a P/E ratio of 17.87 and a beta of 0.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.64 and a current ratio of 3.98.

Nihon Kohden (OTCMKTS:NHNKY - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.09). The firm had revenue of $297.47 million during the quarter, compared to the consensus estimate of $299.98 million. Nihon Kohden had a net margin of 5.90% and a return on equity of 9.17%. As a group, equities analysts predict that Nihon Kohden Corporation will post 0.60 earnings per share for the current fiscal year.

Nihon Kohden Company Profile

Nihon Kohden Corporation is a Japanese medical technology company that develops, manufactures and markets electronic medical equipment and related solutions. Founded in 1951 and headquartered in Tokyo, the company serves hospitals, clinics and other healthcare providers through operations in Japan and international markets.

Its product portfolio includes patient monitoring systems, electrocardiographs, electroencephalographs and other neurological diagnostic equipment. Nihon Kohden also supplies defibrillators, automated external defibrillators, ventilators, anesthesia-related equipment, clinical information systems and devices used in in-vitro diagnostics, including hematology testing.

The company distributes its products through domestic and overseas subsidiaries, distributors and service networks.

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