Today has brought yet another punch for S&P/ASX 200 Index (ASX: XJO) shares, and these quality stocks haven’t been immune to the market’s pain.
The ASX 200 is down 0.08% right now, leaving it 9.5% lower than it was at the end of May. It has also tumbled 14% since the start of 2022.
But that might have created an opportune entry point for some high-quality ASX 200 shares. Here are three that hit their lowest price in more than a year on Wednesday.
Washington H Soul Pattinson and Co Ltd (ASX: SOL)
ASX 200 favourite Soul Patts has seen its share price hit a new 52-week low of $22.52 today despite no word from the investment house. That leaves it around 27% lower than it was at the start of the year.
The last time the market heard news from the nearly 120-year-old company was back in March when it announced its adjusted half-year profits had leapt 281%.
Blackmores Limited (ASX: BKL)
Another quality ASX 200 share slipping to a new 52-week low today is Blackmores. It reached a low of $65.00 in intraday trade.
Once again, the market hasn’t heard news from the company since it released strong earnings for the first half. Though, it likely disappointed some by deciding not to provide guidance for the second half.
Today’s slip might be due to broker Morgans’ decision to lower its price target for the stock to $70.50.
The Blackmores share price has fallen 28% since the start of 2022.
Megaport Ltd (ASX: MP1)
Finally, ASX 200 tech share Megaport reached a new 52-week low of $4.79 earlier today.
The company’s stock has struggled alongside the broader S&P/ASX 200 Information Technology Index (ASX: XIJ) this year. That’s despite it reporting seemingly decent growth in its most recent trading update, released in April.
Megaport shares are nearly 73% lower year to date.
Source: Read More