APRA data has revealed benefits paid to private hospitals declined -3.3% in the December quarter.
There was reasonably robust growth in Western Australia but NSW was surprisingly weak, UBS notes, with no evidence of significant reductions in any backlog.
The broker retains a Neutral rating and $69.90 target.
Sector: Health Care Equipment & Services.
Target price is $69.90.Current Price is $63.26. Difference: $6.64 – (brackets indicate current price is over target). If RHC meets the UBS target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).