Why Signify Health's Shares Jumped 33.9% This Week
Shares of Signify Health (NYSE: SGFY) jumped 33.9% this week, according to data from S&P Global Market Intelligence. The company, which specializes in healthcare analytics and technology to assist health plans, physician groups, and health systems in home-based care risk assessment, closed at $21.20 on Friday. The stock opened at $29.74 on Monday before rising to a 52-week high of $29.88 later that day. The stock is up more than 96% this year and has a 52-week low of $10.70.
Investors jumped in at the first opportunity after The Wall Street Journal and Bloomberg News reported on Sunday that CVS Health, UnitedHealth Group, Option Care Health and Amazon were all fighting to acquire the company. The auction could valuate the company at more than $8 billion. It has a market cap of $8.146 billion.
Signify's data is designed to allow patients to spend more time recuperating at home to bring down costs for healthcare groups and patients. The big attraction for the companies bidding for Signify is the company's large database related to advanced healthcare analytics.
Source Fool.com
