FTSE 100’s Most-Shorted Stock Convatec Snared by US Medicare Row

The Trump administration’s toughening stance on Medicare spending is prompting bets against UK medtech Convatec Group Plc, the most-shorted London-listed blue chip.

The medical products and equipment manufacturer’s shares out on loan — an indication of short interest — jumped to nearly 15% of the company’s free float last week and stood at more than 13% as of Sept. 1, according to the latest data from S&P Global Market Intelligence. That’s the highest ratio among stocks in the UK’s benchmark FTSE 100 Index.

Convatec shares have plunged 18% this quarter after the US Centers for Medicare & ...