"Anyone knows why the share price is sinking so quickly?"It...

"Anyone knows why the share price is sinking so quickly?"

It might have something to do with the new report on PME put out by Gold in Sacks dated 31 Jul.
GS have changed their recommendation from buy to neutral.
(you can get the report at Commsec.)

I haven't read it all yet, but it pretty much reads like there is a lot of "on the one hand but then on the other..." in the report.

Notably GS have actually upped their 12 month target price from $53.80 to $55.60.

So it mostly seems to be an acknowledgement by GS of how far the price has come and some fretting on their part about valuation.
What sane person wouldn't be fretting about valuation?
But even on that point, GS hedge their position.

"However, we do believe it is worth highlighting that, against other small/mid cap ASXhealthcare peers, valuation does not screen as demanding, particularly given the relativestrength of fundamentals."

Cheers