Top Undervalued Healthcare Stocks to Consider Right Now

Identifying the most oversold stocks in the healthcare sector can provide investors with opportunities to purchase undervalued companies.

The Relative Strength Index (RSI) serves as a momentum indicator, comparing a stock’s strength during days of price increasing to its strength on days of price dropping. This comparison, when analyzed alongside price action, offers traders insights into the short-term performance potential of a stock. Generally, an asset is deemed oversold when the RSI falls below 30, according to Benzinga Pro.

Here’s a look at key oversold players within the healthcare sector, particularly those with an RSI near or below 30.

RadNet Inc RDNT

• On March 5, Raymond James analyst John Ransom upgraded RadNet from Outperform to Strong Buy while reducing the price target from $85 to $65. Over the past month, the company’s stock has declined approximately 24%, reaching a 52-week low of $42.45.
• RSI Value: 24.8
• RDNT Price Action: Shares of RadNet fell by 4.1%, closing at $47.24 on Wednesday.
• Benzinga Pro’s real-time newsfeed provided updates on the latest developments concerning RDNT.

Tactile Systems Technology Inc TCMD

• On February 18, Tactile Systems Technology reported quarterly earnings that exceeded expectations. “Our fourth quarter results capped off a dynamic year for Tactile, during which we launched our next-generation lymphedema platform, generated clinical evidence supporting the value of our therapies, deployed new workflow tools to enhance efficiency, and served over 79,000 patients,” stated Sheri Dodd, President and CEO. In the last month, the company’s stock has dropped roughly 22%, reaching a 52-week low of $11.12.
• RSI Value: 22.5
• TCMD Price Action: Shares of Tactile Systems Technology decreased by 4.7%, closing at $13.26 on Wednesday.
• Benzinga Pro’s charting tool assisted in identifying the trend for TCMD stock.

ProKidney Corp PROK

• On November 12, 2024, ProKidney announced a narrower-than-expected quarterly loss. Over the last month, the company’s stock has plummeted approximately 38%, with a 52-week low recorded at $0.94.
• RSI Value: 25.9
• PROK Price Action: Shares of ProKidney dropped by 5.3%, closing at $0.99 on Wednesday.
• Benzinga Pro’s signals feature indicated a potential breakout for PROK shares.

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