Apollo Hospitals share price target: Stock jumps 3% after Q4 profit rises; should you buy or wait?

Apollo Hospitals share price target, Apollo Hospitals NSE today, Apollo Hospitals Q4 results 2024: Shares of Apollo Hospitals Enterprise Limited, part of the Nifty Healthcare index, hogged the spotlight on Friday, May 31, a day after the healthcare provider reported good March quarter results. Apollo Hospitals jumped over three per cent to the day's high of Rs 5,959.35 on NSE in early morning deals, halting the five-day declining trend. The counter closed at Rs 5,845, up 1.36 per cent on NSE. 

Apollo Hospitals Q4 results 2024

On Thursday, Apollo Hospitals reported a 76 per cent increase in consolidated net profit to Rs 254 crore for the March quarter. The healthcare major's revenue from operations rose to Rs 4,944 crore for the fourth quarter as compared with Rs 4,302 crore in year-ago period, 

For the year ended March 31, 2024, the company posted a net profit of Rs 899 crore as compared with Rs 819 crore in FY23. Revenue from operations rose to Rs 19,059 crore last fiscal as against Rs 16,612 crore in FY23.

Buy/sell/hold Apollo Hospitals stock?

Morgan Stanley has maintained an overweight call on Apollo Hospitals with a target price of Rs 7,181 per share. The brokerage sees an upside of 24.5 per cent in the counter from the previous close. 

In addition, Macquarie has retained an underperform rating on the hospital stock with a target of Rs 4,200 per share. The brokerage stated the following points in its note: 

• Q4 results: Operationally in line, hospital profitability declines
• PAT miss was driven by higher depreciation and amortisation expenses
• Hospital business EBITDA margin compressed 130 bps YoY and 70 bps QoQ to 23.1 per cent

Management Commentary

"While Apollo leads the paradigm shift in healthcare focused on prevention of diseases, we are committed to advance our research efforts and leverage cutting-edge, new-age technologies like Al and robotics to enhance patient outcomes," Apollo Hospitals Chairman Prathap C Reddy said. Read more on Apollo Hospitals Q4 results 2024

Apollo Hospitals dividend 2024

Apollo Hospitals has approved a final dividend of Rs 10 per share of the face value of Rs 5 per share to the shareholders of the company for the FY24.

(with PTI inputs)

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