COPENHAGEN—Investors were bullish today (July 29) on Denmark’s two major publicly owned hearing care technology companies.
The price of shares in GN Store Nord, owner of GN ReSound, rose by about 6% in early trading on the Nasdaq OMX Copenhagen 20 Index (KFX), reaching 114.00 Danish kroner ($20.28), compared to Friday’s closing price of 107.50 kr. The sharp gain followed an announcement from the company that it expected organic revenue growth of 7% for the ReSound unit of GN. Previously, the company had forecast growth of 4%-6%.
Meanwhile, William Demant Holding A/S, owner of Oticon and several other hearing care companies (WDH), saw its stock increase by 1.9% to 489.10 kr. ($87), up from last Friday’s closing price of 480.00.
The gains made the two stocks among the day’s biggest winners on the Copenhagen 20 index, which added less than 0.1%.
Interesting. I’d be curious where the growth is coming from: Costco, VA or maybe influences outside the US?
Seems like most private hearing aid businesses are not quite back up to pre-recession levels yet, but maybe that could be changing.