Exploring Oversold Stocks in the Healthcare Sector: Opportunities Unveiled

Investors looking for undervalued companies may find an opening as the healthcare sector shows a trend of oversold stocks.

The Relative Strength Index (RSI) is a key tool to assess stock performance. It compares how a stock behaves on up days versus down days, helping traders gauge short-term price movements. When a stock has an RSI below 30, it is generally seen as oversold, indicating potential buying opportunities, as noted by Benzinga Pro.

Below are some notable oversold stocks in the healthcare sector, each with an RSI around or below 30.

Organon & Co OGN

• Organon is set to publish its Q3 2024 financial results on October 31. The stock has dropped approximately 12% in the past month, currently hitting a 52-week low of $10.84.
• RSI Value: 28.28
• OGN Price Action: Shares of Organon decreased by 0.9%, closing at $17.45 on Monday.
• Benzinga Pro’s real-time newsfeed covered recent developments regarding OGN.

Arcutis Biotherapeutics Inc ARQT

• Recently, on October 21, Arcutis received Health Canada approval for ZORYVE® Foam, which treats seborrheic dermatitis in patients aged 9 and older. Dr. Melinda Gooderham highlighted the approval as a critical milestone for treatment options. Despite this positive news, the stock has plummeted about 14% in the last five days, reaching a 52-week low of $1.76.
• RSI Value: 28.13
• ARQT Price Action: Arcutis shares fell 4.7%, closing at $8.31 on Monday.
• Benzinga Pro’s charting tools identified trends impacting ARQT stock.

TransMedics Group Inc TMDX

• TransMedics is expected to announce third-quarter financial results after the market closes on October 28. Recently, the company’s shares have been down about 22% in one month, reaching a 52-week low of $36.42.
• RSI Value: 29.60
• TMDX Price Action: Shares of TransMedics dropped 1.7%, ending at $124.48 on Monday.
• Benzinga Pro’s features alerted users to potential breakout signals for TMDX shares.

Read More: