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.
Cassava Sciences Inc SAVA
- On July 1, Cassava Sciences engaged the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) amid ongoing investigations into the company and two senior employees. The company's stock fell around 46% over the past five days and has a 52-week low of $8.79.
- RSI Value:14.66
- SAVA Price Action:Shares of Cassava Sciences fell 5.2% to close at $10.22 on Friday.
- Benzinga Pro's real-time newsfeed alerted to latest Cassava Sciences news.
Owens & Minor, Inc. OMI
- On June 24, Owens & Minor named Jonathan A. Leon as interim CFO. The company's stock fell around 26% over the past month. It has a 52-week low of $12.47.
- RSI Value:15.74
- OMI Price Action:Shares of Owens & Minor fell 4% to close at $12.59 on Friday.
- Benzinga Pro's charting tool helped identify the trend in Owens & Minor stock.
Castle Biosciences Inc CSTL
- On July 5, Baird analyst Catherine Ramsey maintained Castle Biosciences with an Outperform and maintained a $34 price target. The company's stock fell around 25% over the past month and has a 52-week low of $12.07.
- RSI Value:17.90
- CSTL Price Action:Shares of Castle Biosciences fell 18.1% to close at $17.40 on Friday.
- Benzinga Pro's signals feature notified of a potential breakout in CSTL's shares.
National Research Corporation NRC
- On May 7, National Research posted a decline in quarterly sales results. Michael Hays, Chief Executive Officer, commented, “NRC continues to be strongly positioned for growth in our expanding markets. Our decades of benchmarks and trusted thought leadership afford healthcare insights unavailable to most competitors, while our client service remains unmatched, and we continue to roll out innovative new products and technologies.” The company's shares lost around 10% over the past month. The company's 52-week low is $21.73.
- RSI Value:19.72
- NRC Price Action:Shares of National Research gained 0.2% to close at $22.99 on Friday.
- Benzinga Pro's earnings calendar was used to track National Research's upcoming earnings report.
Pacira Biosciences Inc PCRX
- On July 2, Pacira BioSciences said the FDA approved a generic version of Exparel. The company's shares fell around 25% over the past five days. The company has a 52-week low of $20.52.
- RSI Value: 21.16
- PCRX Price Action:Shares of Pacira Biosciences fell 2.8% to close at $21.06 on Friday.
- Insider trades for Pacira Biosciences were monitored using Benzinga Pro.