Directors dealings: Mediclinic executive picks up shares near three-year low
Alan Grieve, one of Mediclinic´s non-executive independent directors, picked up three batches of shares in quick sucession.
FTSE 100
7,895.85
16:59 19/04/24
FTSE 350
4,341.08
17:09 19/04/24
FTSE All-Share
4,296.41
17:08 19/04/24
Health Care Equipment & Services
11,690.05
17:09 19/04/24
Mediclinic International
501.00p
16:40 25/05/23
In total, Grieve spent 55,073 on 28 November on 7,500 shares in the hospital operator, the company said in a statement.
The next day, analyst James Vane-Tempest at Jefferies slashed his target price on the company´s shares from 812.0p to 741.0p, telling clients that the company´s ability to deliver on its timetable of expansion projects held the key to investor sentiment.
In Vane-Tempest´s opinion, the main reason behind the rapid slide in the stock was that at the time of its first half figures all three of Mediclinic´s businesses appeared to be facing near-term headwinds.
On 10 November, Mediclinic´s chief, Danie Meintjes, said that while the industry trends of growing competition and regulatory changes remained challenging across all of Mediclinic’s platforms, the board was highly focused on investing in and delivering high quality patient-centric clinical care.
“With this focus and our leading positions in core markets, Mediclinic is well-positioned to deliver sustainable long-term growth.”
On Tuesday, shares in Mediclinic set a fresh 52-week low and were changing hands near their weakest levels in over three years.
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