Australian healthcare firm Healius falls as Citi cuts target price

Healius

09/11/2023 24:17

** Shares of Australian healthcare co Healius Ltd  HLS.AX 
fall as much as 5.9% to A$1.8625
    ** Analysts at Citi cut target price to A$2.15 from A$3.00,
maintain "neutral" rating 
    ** Brokerage says Q1 medicare data and trading updates from
HLS peers Australian Clinical Labs  ACL.AX  and Integral
Diagnostics  IDX.AX  point to potential downside risks to
earnings 
    ** Citi says Q1 medicare pathology volume growth of ~3%
subdued, indicating potential downside risk to revenue 
    ** Says its FY24 EBIT forecast for HLS ~7% below consensus
on lower revenue and margin assumptions  
    ** Brokerage remains cautious on margin outlook for segment
HLS Imaging 
    ** Two of 10 analysts rate the stock "buy", six "hold" and
two "sell" or lower; their median PT is A$2.85 - LSEG Data
    ** HLS down 35.5% YTD, as of last close

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))