SINGAPORE (Nov 10): Phillip Securities Research is downgrading healthcare group Singapore O&G to “accumulate” with a lower target price of 62 Singapore cents, from its previous recommendation of “buy” with a target price of 65 Singapore cents.

“We are cognizant of the margin pressures arising from sluggish birth rate, slowing medical tourism, higher operating costs and the latent period of the new Paediatric services,” says analyst Soh Lin Sin in a report on Thursday.

SOG saw its earnings slip to S$2.35 million for the 3Q ended September, down 3.3% from S$2.43 million a year ago, on the back of weaker-than-expected performance from its Obstetrics & Gynaecology (O&G) and Dermatology businesses... (Click here to read the full story.)