Telix Pharmaceuticals Ltd (ASX: TLX) shares are sinking today.
Shares in the S&P/ASX 200 Index (ASX: XJO) diagnostic and therapeutic product developer closed yesterday trading for $11.49. During the Wednesday lunch hour, shares are changing hands for $10.83 each, down 5.7%.
For some context, the ASX 200 is down 0.4% at this same time.
Unfortunately for stockholders, today's underperformance is par for the course this past year, with Telix shares down 59% over 12 months.
Telix has faced headwinds on several fronts over the past months, including regulatory filing issues with the US Food and Drug Administration.
Shares closed down 18.8% on 28 August when the company announced that the FDA had identified deficiencies relating to the Chemistry, Manufacturing, and Controls (CMC) package for Telix's renal cell carcinoma imaging agent, TLX250-CDx (Zircaix).
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Should you buy the big dip on Telix shares?
Looking ahead, the team at RBC Capital expect a much stronger year from the ASX 200 healthcare stock (courtesy of The Bull).
The broker recently upgraded Telix shares to an outperform rating. Noting the outsized share price retrace over the past year, RBC Capital said the current valuation represents a "compelling risk/reward profile" for longer-term investors.
RBC Capital has a $17 price target on the stock. That represents a potential upside of 57% from current levels.
What's happening with the ASX 200 healthcare stock today?
Telix released its December quarter update (Q4 2025) after market close yesterday.
Telix shares are under pressure today despite the company reporting that it had met its full calendar year 2025 revenue guidance, reporting revenue of US$804 million (AU$1.2 billion).
However, this did come in on the lower end of the company's guidance of US$800 million to US$820 million, which was upgraded in October from US$770 million to US$800 million.
Fourth quarter revenue of US$208 million was up 46% year on year.
Commenting on the results that have yet to boost Telix shares today, managing director Christian Behrenbruch said, "Telix's precision medicine business delivered excellent sequential growth in Q4 2025, driven in part by the successful US launch of Gozellix."
The company's precision medicine division achieved Q4 revenue of US$161 million, up 4% from Q3.
Behrenbruch noted:
This revenue growth outpaced a 3% increase in dose volumes, demonstrating the positive impact of our two-product strategy on market share and pricing. With strong early uptake of Gozellix and a robust pipeline of key accounts integrating Gozellix and ARTMS technology, Telix is well positioned for sustained growth in 2026.
