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.
Repligen Corp (NASDAQ:RGEN)
- On June 13, Repligen named Olivier Loeillot as Chief Executive Officer, effective Sept. 1. The company's stock fell around 28% over the past month and has a 52-week low of $110.45.
- RSI Value: 22.62
- RGEN Price Action: Shares of Repligen fell 2.4% to close at $120.00 on Thursday.
- Benzinga Pro's real-time newsfeed alerted to latest RGEN's news.
Enovis Corp (NYSE:ENOV)
- On May 2, Enovis posted better-than-expected quarterly results. "We had a great start to 2024, with both revenues and operating margins exceeding expectations," said Matt Trerotola, Chief Executive Officer of Enovis." The company's stock fell around 12% over the past month. It has a 52-week low of $43.04.
- RSI Value: 25.21
- ENOV Price Action: Shares of Enovis fell 0.1% to close at $44.56 on Thursday.
- Benzinga Pro's charting tool helped identify the trend in ENOV's stock.
Penumbra Inc (NYSE:PEN)
- On May 7, Penumbra posted upbeat quarterly earnings. The company's stock fell around 8% over the past five days and has a 52-week low of $170.59.
- RSI Value: 28.39
- PEN Price Action: Shares of Penumbra fell 0.3% to close at $175.45 on Thursday.
- Benzinga Pro's signals feature notified of a potential breakout in PEN's shares.
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