Image source: @Tumisu/Pixabay
Highlights
- Sonic Healthcare is an ASX-listed company engaged in offering laboratory medicine / pathology, radiology, and primary care medical services
- The Vanguard Group, Inc. has the highest stake in the company with a shareholding of ~5.03%
- In 1HFY24, SHL’s revenue jumped 5% YoY to AUD 4,306 million
Australia-based Sonic Healthcare Limited (ASX: SHL) provides laboratory medicine / pathology, radiology, and primary care medical services. The company operates across North America, Europe and Australasia.
The AUD 13.39-billion-marketcap company witnessed 5% YoY jump in its revenue to AUD 4,306 million in the first half of the financial year 2024 (1HFY24). In 1HFY24, base business revenue, excluding Covid-related services, had increased by 15% YoY to AUD 4,267 million backed by contributions from the three acquisitions undertaken during the period.
However, during the reported period, net profit dropped by 47% YoY because of decrease in Covid-19 testing volumes and EBITDA declined by 20% YoY to AUD 737 million.
During the reported period, the company executed three synergistic acquisitions. From acquisitions and contract wins, the company had secured nearly AUD 500 million in new annual revenue, since 1 July 2023.
Top 10 shareholders of SHL
The top 10 shareholders of SHL have around 22.68% shareholding in the company, while the top four have around 14.91% shareholding. The Vanguard Group, Inc. has the highest stake in the company with a shareholding of ~5.03%.

Recent business update
Through an ASX-update dated 8 March 2024, the company informed about the change in interest of its directors. Christine Bennett had acquired 1,100 shares in SHL, Christopher David Wilks had acquired 22,050 shares and Colin Stephen Goldschmidt had acquired 52,695 shares.
Outlook
In 2HFY24, the company expects its earnings to be higher than 1HFY24. In FY24, the company expects to deliver EBITDA of AUD 1.7 billion to AUD 1.8 billion, with inclination towards the lower end of the guidance.
The focus is on advancing cost reduction campaigns, more complex pathology/ laboratory testing, capitalising on the current trend towards higher value and on tapping acquisition and contract opportunities.
Share performance of SHL
SHL shares closed 1.36% up at AUD 28.4 apiece on 13 March 2023. Including this, SHL’s share price has decreased by 15.17% in the last 12 months and has fallen by almost 11.55% in one month.
The 52-week high of SHL is AUD 36.97, recorded on 11 April 2023, while the 52-week low is AUD 27.83, recorded on 6 March 2024.

SHL Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 13 March 2024. The reference data in this report has been partly sourced from EODHD/Others.






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