Is Straumann Slowing Down?

Last week Straumann´s stock fell more than 10%, the most in almost 10 months, after
the company’s second-quarter profit and sales rose less than
Wall Street analysts expected and the company lowered its full-year outlook.

Naturally Straumann remained upbeat about its prospects, including SLActive, Straumann´s third-generation surface technology. The company did, however, state that it "continues to absorb the costs of production build-up in the US and new production technology." Goldman Sachs was clearly not impressed and they downgraded the company´s stock saying, "The absence of a sales growth recovery in the US coupled with higher than expected start-up costs for the US plant and SLActive production are the key reasons for our downgrade."

What are you thoughts? Is Straumann´s slowed growth in the US mainly a short-term issue, or is it a reflection of growing competition in the dental implant market? For an interesting discussion on SLActive, you may want to check out this blog.