AUS
NZ
UK
CA
USA
IND
_06_04_2026_00_29_48_108019.jpg)
Highlights
- Polynovo shares have been gaining attention despite no new announcement.
- The stock that dropped over 58% in the last 12 months, has been displaying an upward momentum this week.
- PNV's second quarter US sales grew 105% on pcp in the first half of FY22.
Shares of ASX listed medical device company Polynovo Limited (ASX:PNV) have been gaining attention despite any announcement made by the company.
Meanwhile, the stock was spotted trading marginally lower at AU$1.120 per share at 3:57 PM AEDT today.
After dropping over 58% in the last 12 months, the stock showed some signs of improvement over the last five days.
Investors are keeping the stock on their radar after it closed 6.603% higher on Tuesday after a continuous 12-month decline.
How Does Metadata Impact Users’ And Companies' Privacy?
What is the reason behind this improvement?
The reason behind this uptick seems to be the strong performance of the healthcare sector S&P/ASX 200 healthcare (ASX:XHJ).
At time of writing, the index (ASX:XHJ) was trading 1.32% higher at 40,598 points. It closed 1.80% at 708.00 points yesterday, which can be a reason why investors are bidding over the stock.
Financial performance
It is also important to note that its share price depends on its financial performance. On this note, let's look at PNV's FY22 half-yearly results announced in February.
Image source: © Alphaspirit | Megapixl.com
As per the report, PNV's US Q2 sales hit a record AU$8.06 million, up 105% on pcp.
The first half of sales in the US grew 58% from the prior corresponding period that standing at AU$14.20 million.
Apart from this, PNV's revenue for the half-year witnessed a healthy 41.9% jump on pcp at AU$18.15 million.
Related read - Why Sigma (ASX:SIG) expects to return to black in FY23
This momentum continued since 31 December 2021, with the Group achieving record BTM sales of AU$4.05 million in January. This was for the first time when the monthly sales exceeded AU$4 million.
PNV share price movement
Image Source © 2022 Kalkine Media ®
The scrip has lost 28% on YTD this year. However, it has traded 1% higher over the last five days. It had constantly dropped in the previous year, losing over 58% in value for its shareholders.
