With the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) sinking lower for the third day in a row on Wednesday, it isn't overly surprising to learn that a number of shares have fallen to 52-week lows.
Three which caught my eye are listed below. Are they in the bargain bin?
The Catapult Group International Ltd (ASX: CAT) share price tumbled to a new 52-week low of $1.44 on Wednesday. The catalyst for yesterday's steep decline was a broker downgrade from Bell Potter. Its analysts believe that rising operating expenses will mean the sports analytics company posts negative EBITDA in FY 2018. While Catapult could prove to be a bargain buy at this level, I'm holding off investing until I see a big improvement in its performance.
The Healthscope Ltd (ASX: HSO) share price hit a 52-week low of $1.67 yesterday. Investors have been heading to the exits in their droves since the healthcare services provider posted a 9% drop in net profit after tax to $163 million in FY 2017. Furthermore, Healthscope cut its dividend and advised that it expects EBITDA to be flat in FY 2018. While its shares look reasonably good value at 18x earnings, I do believe there are better options in the healthcare sector right now that I would choose above it.
The Monash IVF Group Ltd (ASX: MVF) share price continued its disappointing slide and hit a 52-week low of $1.47 during trade yesterday. As well as posting a weak full-year result and advising that it expects net profit to be flat in FY 2018, this fertility company's shares have come under significant selling pressure following the loss of one of its major doctors in June. While the departure of Dr Lynn Burmeister is not expected to impact its results this year, the company has warned that there is potential for it causing a high single digit percentage decline in net profit after tax in FY 2019 when her non-compete period expires. In light of this, I would avoid Monash IVF no matter how cheap it appears.
