The Pro Medicus Limited (ASX: PME) share price sunk almost 10% on Wednesday despite no news being released from the company for more than a month.
At market close, the Pro Medicus share price was down 9.69% to $56.95 apiece.
It may be part of a wider trend, with the S&P/ASX Health Care Index (SX: XHJ) the second-worst performing sector today behind the IT index.
Let’s take a look at what’s been going on with the company lately.
Pro Medicus down to start 2022
The last time we heard from the medical imaging provider was on 1 December 2021 when it gave notice of one of its directors buying ordinary shares in the company.
Before that, on 23 November, the company released the results of voting on several resolutions at its AGM.
Since then, the Pro Medicus share price has dropped by 4.61%.
The company also saw a small dip in its share price back in early October, despite releasing news of a contract win with prominent US healthcare provider Novant Health.
Pro Medicus CEO Dr Sam Hupert said the deal was significant for the company, as it was the largest in its history.
It was also the company’s seventh major contract in North America in less than 18 months.
Other healthcare shares seeing red today
However, it was not just Pro Medicus seeing a decline today. Biotech company Imugene Ltd (ASX: IMU) was down 8.24% at market close today, falling from its 8% jump yesterday.
Yesterday’s surge coincided with news of its B-cell immunotherapy drug, PD1-Vaxx, commencing a trial in the treatment of non-small cell lung cancer (NSCLC).
CSL Limited (ASX: CSL) was also down 1.82% today, at $290.60 apiece.
The biotech giant hasn’t released any news so far in 2022, however, new COVID-19 variants and ongoing restrictions may have affected its share price.
It’s not all doom and gloom though. Both CSL and Imugene made the list of the best performing biotech ASX shares of 2021.
Pro Medicus share price snapshot
Despite today’s news, the Pro Medicus share price has risen by more than 67% in the last 12 month period.
The company has a market capitalisation of around $6 billion and a price-to-earnings (P/E) ratio of 192.
The post Why did Pro Medicus (ASX:PME) and 2 other ASX 200 healthcare shares fall today? appeared first on The Motley Fool Australia.
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More reading
- Why Afterpay, Kogan, Premier Investments, and Pro Medicus shares are dropping
- ASX 200 (ASX:XJO) midday update: Afterpay hits 52-week low, energy shares rise
- Why is the Imugene (ASX:IMU) share price up 8% today?
- Leading brokers name 3 ASX shares to buy
- Here are the 5 best performing ASX biotech shares of 2021
Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. and Pro Medicus Ltd. The Motley Fool Australia owns and has recommended Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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