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Healthcare and life sciences expert Scott Power, who has been a senior analyst with Morgans Financial for 24 years, explains what the movers and shakers have been doing in health and gives his ASX powerplays.
Themes of the week
Healthcare finished the week up 1.58 per cent, compared to the broader market which rose by 0.23 per cent.
Inflation anxiety in Australia and overseas continued to play out on growth stocks this week, causing volatility in the share prices of biotech stocks.
Hearing tech company Audeara (ASX:AUA) made its ASX debut on Tuesday, but the stock price has tanked and fallen to 14.5c, below its IPO price of 20c.
Morgans was the IPO manager for Audeara, and Power remains bullish on the stock and the hearing technology segment in general.
“The thesis on this stock still remains intact, as there is definitely an increasing trend towards hearing health,” he said.
Audeara makes headphones designed to complement hearing aids, helping people with entertainment experiences, such as watching TV.
“We believe there is a big upside for Audeara in terms of growing overseas in markets like the US,” he argued.
We have seen another hearing aid company with a full-page advertisement on West Australian NUH, still struggling to attract the market.
Would AUA deliver any additional benefit to become a midget Cohlear COH?
What the group’s comments on understanding the two stocks AUA and NUH to be rising above the ashes sooner?
DNH