Imaging stocks continue to struggle

Public companies providing imaging devices and services continue to have a hard time making money for their shareholders, according to data from a recent industry survey by HealthCare Markets Group. Shares of imaging device manufacturers fell 4.6% in the first nine months of 1999 (end-September), compared to a 21% drop for the same period in 1998.

Among the biggest gainers were Vital Images, up 170%, and SonoSite, up 152%; the biggest losses were felt by Hologic, down 67%, and Fischer Imaging, down 56%.

Share price for imaging services vendors declined 5.8% during the first nine months of 1999, compared to a 32% decline for all of 1998. Overall, healthcare industry stock prices declined 2.8% in the first nine months of 1999, compared to a 1.9% increase in the same period of 1998.

Despite the poor performance, 1999 is still turning out to be a better year than 1998, which witnessed a 23% decline in share value for imaging device firms (SCAN 1/13/99). HMG of Hilton Head, SC, reviews the financial performance of publicly owned healthcare companies in 36 market segments.