The share price of Sonic Healthcare (ASX:SHL) has not been immune to the recent market sell-off. However, they have outperformed the S&P/ASX 200 Index as well as the S&P/ASX Healthcare over the past three weeks.
Sonic Healthcare is raising $600 million in an accelerated placement to big shareholders and plans to ask small shareholders for another $100 million to help pay for its $750 million purchase of US group Aurora Diagnostics.
Sonic Healthcare (SHL) has shelved a challenging year, providing an outlook for FY16 considered the best for some time. Guidance for earnings is in the range of $850-875m, at spot FX rates, which most brokers find reasonable and achievable. The risk is unexpected cuts to government funding.