No End in Sight for Ozempic-Fueled Drop in Medical-Device Stocks
- Analyst sees year-end portfolio manager selling hitting sector
- Dialysis stocks battered by Ozempic kidney trial update
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Medical-device stocks hard hit by the rising popularity of a new class of weight loss drugs are poised to extend a drop into year end.
That’s according to JPMorgan Chase & Co. analyst Robbie Marcus, who says the sector will see more declines before sentiment shifts as big-money investors steer clear. “Long-only portfolio managers are just exiting these positions and avoiding the space,” he wrote in a note Wednesday.