Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Mesoblast Limited (NASDAQ: MESO)
- On Jan. 19, the FDA granted Rare Pediatric Disease Designation to Mesoblast's Revascor® for treating children with congenital heart disease. The company’s stock fell around 16% over the past month and has a 52-week low of $1.61 .
- RSI Value: 29.61
- MESO Price Action: Shares of Mesoblast rose 1.1% to close at $1.79 on Thursday.
- On Jan. 4, MultiPlan named Travis Dalton as President and CEO on March 1, 2024. The company’s stock fell around 40% over the past month. It has a 52-week low of $0.61.
- RSI Value: 25.95
- MPLN Price Action: Shares of MultiPlan closed at $1.02 on Thursday.
- On Jan. 9, Neogen reported second-quarter FY24 sales of $229.6 million, down 0.2% Y/Y, missing the consensus of $232.87 million. Core revenue declined 0.9%. The company revised its FY24 revenue guidance to $935 million-$955 million, versus prior guidance of $955 million-$985 million and consensus of $960.65 million. The company’s stock fell around 21% over the past month and has a 52-week low of $14.44.
- RSI Value: 29.75
- NEOG Price Action: Shares of Neogen fell 1% to close at $16.20 on Thursday.
- On Jan. 25, Humana reported a fourth-quarter adjusted EPS loss of 11 cents, a turnaround from EPS income of $1.97 a year ago, missing the consensus of 5 cents. Humana announced its initial fiscal year 2024 EPS outlook of ‘approximately $14.87’ on a GAAP basis, ‘and approximately $16.00’ on an adjusted basis (versus consensus of $28.91). The company’s shares lost around 14% over the past five days. The company’s 52-week low is $342.69.
- RSI Value: 19.43
- HUM Price Action: Shares of Humana fell 11.7% to close at $355.36 on Thursday.
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