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Australian Investment Blog

Uncategorized 16/11/2021

Capitol Health (CAJ) rallys with AGM update

CAJ +7.25%: the diagnostic imaging company hosted their AGM today with a solid performance update which helped the stock higher. Capitol Health has seen revenue up 6.3% in the first 4 months on the year when compared to the same period pre-CVOID in FY19. This comes despite around 80% of revenue being generated from Victoria, one of the hardest hit by lockdown. This start puts them well on track to meet consensus revenue estimates for the full year of $192m with the help of the recently opened Packenham site along with another 2 coming along before the end of 2021. The balance sheet is in great shape – has been for a long time – however management are yet to pull any triggers on meaningful acquisitions so money may find its way back to shareholders through buybacks or special dividends.

MM remains long bullish CAJ
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Capitol Health (CAJ)
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