Why did Capitol Health (CAJ) shares crash today?
CAJ -4.55%: the diagnostic imaging company hosted their AGM today with shares closing weaker on the session. They flagged a number of near-term efforts to drive further revenue growth including an additional 8 radiologists to be brought on by next quarter and adding a number of MRI machines to improve margins. YTD Revenue was down -1.8% though, as the company cycles strong growth last year but also closes down unprofitable sites potentially improving margins. Overall it looks like a solid update with CAJ cleaning up the business. The balance sheet remains in great shape adding that there is a potential for further M&A.
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