Global worries weigh on Sonic

A recent share price rise—and rising risks—sees Sonic closer to a downgrade. James Greenhalgh explains.

At Sonic Healthcare’s annual meeting last month, chairman Peter Campbell was at pains to point out the defensive nature of the company’s business. He’s right that demand for pathology services—blood tests and the like—tends to remain fairly consistent. Whilst volumes fell in Australia last year, they’ve since recovered.

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