Biosensors (B20.SG) last down 3% at 7-session low of $0.800, surrendering part of 7.1% gain so far this month, with investors reacting to heart stent maker’s surprise US$6 million ($8.2 million) charge taken in June quarter for closing US operations, resulting in 22.7% on-year fall in fiscal 1Q11 earnings to US$3.2 million.

Still, selling not widespread as volume modest. If $0.80 fails to hold, next support at 50-day moving average, last at $0.78.

Excluding charge, Nomura, which has Buy call with $1.20 target, says performance better than expected, with core net profit more than doubling to US$9.2 million on increased sales of flagship BioMatrix stent, higher margins, contributions from 50%-owned JW Medical Systems.

“BioMatrix has achieved a 5% market share in France over six months, which we think is commendable given that it is distributed through Biosensors' own sales force. We believe the growth momentum in France will continue,” says Nomura.