The Primary Health Care Limited (ASX: PRY) share price is down nearly 11% since the start of this year, currently trading for around $3.63.
That's well off the 52- week high of $4.31, although the share price has recovered somewhat after plunging to a low of $3.18 in February, after reporting a disappointing first six months of the 2017 financial year.
Primary Health owns and operates medical centres, and provides diagnostic imaging and pathology services around Australia. Pathology is the largest revenue generator, with earnings before interest & tax (EBIT) in the last half roughly double that of the medical centres.
The company saw its CEO Peter Gregg resign in January as well, and appointed new CEO Dr. Malcolm Parmenter at the start of May 2017.
At the current price, Primary is trading on a prospective P/E ratio of more than 22x which doesn't appear cheap, and the dividend yield is a fairly low 3.1%. As such, there are better opportunities on the market, and Foolish investors don't need to buy into Primary, like the ones below.
