Recent reporting season volatility has created sharp pullbacks across parts of the ASX. While some falls are justified, others look more like sentiment swings than structural problems.
Here are 3 ASX shares that have been heavily sold in the past month but could be worth a closer look.
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price has fallen about 43% in the past month, though it has bounced 8.03% to $126.36 today.
The sharp drop came after the company released its latest half-year result. The numbers were strong on paper, with revenue and profit rising again. But expectations were sky high going into the announcement.
Despite the heavy selling, the business itself has not materially changed. Pro Medicus continues to win large imaging contracts in North America and generates high margin, recurring revenue through its Visage platform. Its balance sheet also remains in a net cash position.
Broker consensus still leans positive, with more ‘buy’ ratings than ‘sells’ at present. Even so, the stock trades on a premium valuation compared to the broader market, which helps explain why it has been so volatile.
After such a steep correction, the risk and reward profile looks very different to what it did a month ago.
Fortescue Ltd (ASX: FMG)
The Fortescue share price is down roughly 12% over the past month and is currently trading around $20.13, down slightly again today.
Iron ore weakness and broader commodity volatility have weighed on sentiment. That said, Fortescue remains one of the lowest cost producers globally and continues to generate strong cash flow at current prices.
Another factor is its push into copper. Recent updates on its copper growth plans show management is looking beyond iron ore. Copper is widely viewed as a key metal for electrification and renewable energy infrastructure, giving Fortescue exposure to demand drivers outside its traditional iron ore base.
Broker consensus is more cautious here, with a mix of ‘hold’ and ‘sell’ ratings. The dividend yield remains attractive relative to the ASX 200, but earnings are still heavily tied to iron ore pricing.
At these levels, the stock may appeal to investors seeking yield and willing to accept commodity price swings. However, it remains a cyclical business and sentiment can shift quickly if iron ore prices move.
Cochlear Ltd (ASX: COH)
The Cochlear share price has fallen about 25% in a month, including a sharp drop of roughly 19% on Friday following its HY26 result. The stock is now sitting around $200.83, modestly higher today.
The result disappointed the market, with softer profit growth and a cautious guidance weighing on sentiment.
Despite this, Cochlear remains the global leader in implantable hearing solutions, backed by decades of operating history and a strong brand. Demand is supported by ageing populations and improving diagnosis rates across key markets.
Broker consensus currently shows a ‘buy’ skew, with more positive than negative recommendations. That suggests some analysts see the sell-off as overdone relative to long-term fundamentals.
The recent weakness may prompt some investors to take a fresh look at the company.
The post 3 ASX shares smashed in the sell-off to buy this week appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Cochlear and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.