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
Add To Hit List
