Benzinga - by Lisa Levin, Benzinga Editor.
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.
The Cigna Group (NYSE: CI)
Cigna and Humana are reportedly discussing a merger deal to create a new powerhouse in the health insurance industry. The company's stock fell around 9% over the past five days and has a 52-week low of $ 240.50 .
RSI Value: 24.53
CI Price Action: Shares of Cigna closed at $262.88 on Thursday.
DBV Technologies S.A. (NASDAQ: DBVT)
On Nov. 10, DBV Technologies announced 2-year results from ongoing Phase 3 open-label extension to the EPITOPE trial (EPOPEX) of Viaskin™ peanut in toddlers. The company's stock fell more than 7% over the past five days. It has a 52-week low of $0.65.
RSI Value: 18.88
DBVT Price Action: Shares of DBV Technologies fell 0.1% to close at $0.74 on Thursday.
Kintara Therapeutics, Inc. (NASDAQ: KTRA)
On Nov. 13, Kintara Therapeutics posted a loss for the first quarter. "We are looking forward to enrolling the first patient in our 15 patient REM-001 study for cutaneous metastatic breast cancer, a disease with little or no current treatment options" commented Robert E. Hoffman, Kintara's President and Chief Executive Officer. The company's stock fell more than 32% over the past month and has a 52-week low of $0.3150.
RSI Value: 23.34
KTRA Price Action: Shares of Kintara Therapeutics fell 14.4% to close at $0.3381 on Thursday.
Pediatrix Medical Group, Inc. (NYSE: MD)
On Nov. 2, Pediatrix Medical Group posted downbeat quarterly earnings. The company's shares lost around 25% over the past month. The company's 52-week low is $8.22.
RSI Value: 25.58
MD Price Action: Shares of Pediatrix Medical fell 3.2% to close at $8.38 on Thursday.
Patterson Companies, Inc. (NASDAQ: PDCO)
On Nov. 29, Patterson Companies reported second-quarter net sales of $1.65 billion, up 1.6% Y/Y, missing the consensus of $1.70 billion. "Our team executed well against softer than anticipated demand within our end markets," said Don Zurbay, President and CEO of Patterson Companies. The company's shares fell around 22% over the past five days. The company has a 52-week low of $25.00.
RSI Value: 22.04
PDCO Price Action: Shares of Patterson Companies fell 2.3% to close at $25.41 on Thursday.
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