The Medibank Private Ltd (ASX: MPL) share price is in the red year to date, but what could be on the cards for its future?
The company’s share price has slid 3.88% this year and is trading at $3.22. For perspective, the S&P/ASX 200 Index (ASX: XJO) has also dropped 3.97% so far this year.
Let’s take a look at what is happening at Medibank.
Takeover target?
Rumours have emerged that Medibank Private has been confronted with a takeover offer. A private equity firm recently approached Medibank about buying its healthcare services business, The Australian reported.
However, the publication speculated the offer may have been rejected quickly due to the company’s plans to grow healthcare services.
In a May presentation at the Macquarie conference in Sydney, Medibank CEO David Koczkar highlighted the private health insurer is building on telehealth, primary care, short stay, and home care.
Medibank highlighted in the financial year to date, resident policyholders have increased by 2.3% or 42,900 as of 30 April 2022. In FY22, the company is hoping to achieve 3.1-3.3% policyholder growth overall.
The company said: “Targeted inorganic growth for Medibank Health and Health Insurance remain areas of focus.”
Medibank recently announced it will publish full-year results on 18 August. The company’s final dividend will be paid on 22 September.
Medibank share price snapshot
The Medibank share price has ascended by almost 4% in the past year, while it is up almost 1% in the past month.
For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned nearly 2% in the past year.
Medibank has a a market capitalisation of about $8.9 billion based on today’s share price.
The post The Medibank share price has struggled in 2022. Could the company be a takeover target? appeared first on The Motley Fool Australia.
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More reading
- Why is the Medibank share price struggling to gain ground in May?
- Own Medibank shares? Here’s what to watch over the coming months
- How big will the Medibank dividend be in 2022?
- The Medibank share price has leapt 5% in a month. Could it be on the comeback trail in May?
- This ASX 200 healthcare share has a fully franked dividend yield over 4% right now
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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