Sirtex Medical Limited shares just dropped 4.3% on no news

Credit: Sirtex Medical

Shares in Sirtex Medical Limited (ASX: SRX) fell more than 4 per cent in Monday’s trade despite the liver cancer treatment specialist releasing no news to the market. The company’s share price has been volatile after a turbulent 12 months that included a big profit downgrade and the summary sacking of a long-serving CEO.

The business is also facing multiple potential class actions over alleged breaches of its continuous disclosure obligations related to last December’s guidance downgrade.

Sirtex is due to hold its Annual General Meeting on October 24 where investors may get an update as to how dose sales of its selective internal radiation (SIR) spheres are tracking over the first quarter of FY 2018.

If sales growth is still weakening in its core U.S. market some investors may head for the exits. Short sellers are already betting against the company with 4.5 per cent of the stock reportedly sold short as at October 10 2017.

If You Can Buy Just 1 Dividend Share, This Is It

You’re missing out on what is arguably the biggest factor in generating huge stock market returns. But don’t worry, I'm going to tell you how to get in on what might be the simplest way to a carefree retirement.

We all know that dividend-paying shares are an excellent way to build long-term wealth. But do you know just HOW great?

To learn the name of this incredible share opportunity, and why The Motley Fool’s team of analysts think its dividend is likely to GROW in the years ahead, simply click here.

Motley Fool contributor Tom Richardson has no financial interest in any company mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.