The G8 Education Ltd (ASX: GEM) share price closed in the green today following the company release of a financial update.

After surging to an intraday high of $1.135 in early trade, shares dropped to $1.09 before bouncing back to $1.10 at the close of trade. This was a 0.46% gain on Friday’s closing price.

G8 Education is an early childhood education provider that has experienced 119 temporary centre closures since the start of the COVID-19 pandemic.

What was in today’s update?

G8 Education reported earnings before interest and tax of $76 million and a net profit after tax of $43 million in the calendar year to date.

This result was above the consensus estimates on company earnings for the 2021 year.

The childcare provider also reported an increase in its occupancy rate of 76.5%. This was an improvement of 1.7% on the calendar year 2020 but 2.1% below the 2019 result.

Net debt for the company was $17 million after the provider forked out $38 million in wage remediation payments.

G8 Education informed investors its revenue was impacted by parent gap fee waivers when children cannot attend due to COVID-19 restrictions.

However, the government was able to offset this loss with fee waivers.

The company said it lost $3,300 per day on average as a result of COVID-19 closures.

What else is new?

Allan Gray portfolio manager Dr Suhas Nayak has tipped G8 Education as one of 4 ASX shares tipped for buybacks in 2022.

Nayak told Motley Fool Australia today that the company’s best course of action may well be to return cash to shareholders via a buy-back, while also improving underlying operations of existing centres.

He noted earnings that while not yet fully recovered, the company was now in a net cash position and the share price was below its peers.

G8 education share price snapshot

The G8 Education share price has slipped 6.78% in the year to date and is down 8.33% in the past 12 months.

The company has a market capitalisation of about $932 million, based on the current share price.

The post Why did the G8 Education (ASX:GEM) share price lift today? appeared first on The Motley Fool Australia.

More reading

• 4 ASX shares tipped for buybacks in 2022: expert

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 Bruce Jackson.

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What is the outlook for the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price in 2022?

Whilst 2021 isn’t finished, the big four ASX bank has had a decent year. Since the start of the year, it has gone up 19% whilst the S&P/ASX 200 Index (ASX: XJO) has risen by approximately 9%. An outperformance of 10% is material over one year.

Several weeks ago, ANZ released its FY21 result for the 12 months to September 2021 where it made statutory profit after tax of $6.16 billion (up 72%). However, cash profit from continuing operations, before credit impairments and tax, was $8.4 billion, which was flat compared to last year.

A significant part of the result related to its credit quality, where the total provision for FY21 was a net release of $567 million.

The credit provision release was due to a combination of factors, with changes to the portfolio volume, mix and risk profile occurring throughout the year, and the economic outlook improving.

But that’s the past. How are things shaping up for 2022?

ANZ’s progress and outlook

ANZ says it’s making good progress in its multi-year transformation, investing in group-wide automation, cloud migration and digitisation to enable low cost, sustainable customer growth.

It wants to be able to offer the public a compelling digital offering which will help drive long-term customer and revenue growth. Higher revenue could be a boost for the ANZ share price.

The ANZ CEO Shayne Elliot said:

We have our eye on the long-term opportunity and made significant progress and these investments, known internally as ANZx, will become more visible to customers into 2022.

New Zealand is expected to continue to deliver robust returns and maintain its strong market position.

Institutional is now a better-balanced, more predictable and higher returning business. We are in a strong position to take advantage of the structural tailwinds we believe will impact institutional banking, particularly in a rising interest rate environment and the build out of our banking platforms business. Changes from the implementation of APRA’s proposed capital reforms are also likely to be a further tailwind for institutional.

ANZ is also looking to sustainable financing as one of the mega-trends that will impact the global economy over the next few years.

The big four bank thinks that the real impacts of COVID-19 will not be fully understood until at least the end of 2022.

What do brokers think about the ANZ share price?

Morgans is quite optimistic on the bank, with a buy rating and a price target of $31. It thinks that ANZ will benefit from rising interest rates, though strong competition remains.

The broker thinks ANZ is going to pay a large dividend yield over the next couple of financial years. In FY22 it is expected to pay a grossed-up dividend yield of 7.7% and then 8.6% in FY23.

Based on the broker’s estimate, the ANZ share price is valued at 12x FY22’s estimated earnings.

Other brokers are less bullish. Credit Suisse is neutral on ANZ, with a price target of $28.50. Credit Suisse is expecting a little lower dividend and earnings in FY22 compared to Morgans.

The post What is the outlook for the ANZ (ASX:ANZ) share price in 2022? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Experts tip 2 beaten up ASX shares for gains in 2022
• These 3 ASX 200 shares are topping the volume charts this Monday
• This ASX shares fund is closing. Manager reveals why
• Buying ASX shares? Why the ‘when’ is just as crucial as the ‘which’: expert

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. 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 Bruce Jackson.

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Today, the S&P/ASX 200 Index (ASX: XJO) delivered a positive start to the week. At the end of the session, the benchmark index finished 0.35% higher at 7,379.3 points.

While there were a couple of sectors that went an untoward direction, the majority of the market headed upwards on Monday. Investors of energy and real estate shares were the real winners, as the two sectors posted gains of more than 2%.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Netwealth Group Ltd (ASX: NWL) was the biggest gainer today. Shares in the fintech platform provider jumped 7.21% despite there being no announcements from the company. Find out more about Netwealth Group here.

The next biggest gaining ASX share today was Charter Hall Group Ltd (ASX: CHC). The integrated property group rallied 5.98% after announcing an upgraded FY22 earnings guidance. Uncover the latest Charter Hall Group details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Netwealth Group Ltd (ASX: NWL)	$17.11	7.21%
Charter Hall Group (ASX: CHC)	$20.92	5.98%
Mercury NZ Ltd (ASX: MCY)	$5.95	5.87%
Iluka Resources Ltd (ASX: ILU)	$9.96	5.73%
Champion Iron Ltd (ASX: CIA)	$4.88	5.63%
Shopping Centres Australasia Property Group (ASX: SCP)	$2.98	4.20%
Allkem Ltd (ASX: AKE)	$9.17	3.85%
Pilbara Minerals Ltd (ASX: PLS)	$2.70	3.85%
Domain Holdings Australia Ltd (ASX: DHG)	$5.625	3.59%
Technology One Ltd (ASX: TNE)	$12.83	3.55%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Experts tip 2 beaten up ASX shares for gains in 2022
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• This ASX shares fund is closing. Manager reveals why
• Buying ASX shares? Why the ‘when’ is just as crucial as the ‘which’: expert
• Why AVZ, Brickworks, Charter Hall, and Senex shares are storming higher

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Netwealth. The Motley Fool Australia owns and has recommended Netwealth and Shopping Centres Australasia Property Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in Australian fund manager Magellan Financial Group Ltd (ASX: MFG) finished trading on Monday, up 1.27% at $29.49.

It’s been a tremulous year for Magellan’s share price, where it has lagged key benchmarks by a considerable amount – a long-term trend that has seen its global equities fund underperform its benchmark by 1.1% over 5 years.

After more velitations in the past few weeks, namely CEO Dr Brett Cairns walking out, plus both its Chairman and former CEO announcing the split from their spouses, Magellan has suffered another tumble to trade at its lowest point in over 2 years.

Now the firm is scrambling to ensure that massive outflows of capital don’t continue, and is working to stabilise the performance of its flagship funds for investors. Here are the details.

What’s Magellan up to?

After years of underperformance, it’s hard for Magellan to continue justifying relatively high management and performance fees to investors.

As such, the firm has begun offering significantly lower fees to wealth managers after palming off similar requests for several years, according to reporting from The Australian.

The report confirms that Magellan has launched a new product for its managed accounts operators and wealth managers, with a fee that is 50 basis points lower than its global fund.

Moreover, it will avoid charging a performance fee on its new offering, making it potentially more attractive from a cost basis. For reference, active equity managers often charge a percentage fee of total funds under management, plus a performance fee if the fund reaches a certain performance watermark.

Many hedge funds charge a “2 and 20” structure for example – 2% of funds under management, plus a 20% profit share of any returns above the defined watermark.

Now Magellan has looked to scrap that similar kind of fee structure and is responding to the requests of its account managers. Apparently, it has been “asked to drop fees for managed accounts” for several years.

According to Magellan’s general manager of distributions, Frank Casarotti, the firm has been “looking at this for years and the reticence around the retail investor is (unrelated and) very much around the relative underperformance”.

To date, there are no funds under the new offering, which took off in November. Magellan says the new product should not be considered as being offered at a discount either. It is only offered to operators of managed accounts that reach a threshold of $20 million.

What’s the outlook for Magellan?

Going by what the experts say, uncertainty is the main theme on the outlook for the Magellan share price. For instance, the team at UBS reckon that whilst the group’s infrastructure and Airlie funds are cruising along, a turnaround for its global fund is still not evident.

UBS also notes that a recovery in retail inflows still appears to be a fair slog away. The firm estimates that since June 30 2021, the global equities fund’s underperformance relative to its benchmark is 540 basis points (5.4%) whereas its Airlie offering has outperformed by 600 basis points (6%).

UBS says it “continues to see downside risks to the revenue outlook (flows/fees)” and retains its sell rating on a $29.50 price target.

Macquarie has Magellan’s share price rated to outperform and values the group at $38.50 per share, whereas each of Morgan Stanley, Jarden Securities and Evans and Partners have it as a sell.

In the past 12 months, the Magellan share price has plunged almost 46%, after sliding another 45% this year to date.

In the last month alone, it has slipped 16% and is down 9% over the past week of trading.

The post The Magellan (ASX:MFG) share price has had a shocker this year. Could this help reverse the slide in 2022? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell next week
• These were the worst performing ASX 200 shares last week
• Why Alcidion, Magellan, Redbubble, and Seven West shares are dropping
• The Magellan (ASX:MFG) share price has lost 40% in 6 months. What now?
• Why Carsales, Magellan, Nickel Mines, and Sigma shares are dropping

The author has no positions in any of the stocks mentioned. 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 Bruce Jackson.

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The Woodside Petroleum Limited (ASX: WPL) share price is having a mixed year.

Although the energy producer’s shares are trading well off their lows, they are also nowhere near their highs for the year.

As a result, the Woodside share price is trading approximately 3% lower year to date.

Is the underperformance by the Woodside share price a buying opportunity?

If you’re looking for exposure to the energy sector, then the weakness in the Woodside share price could be the opening you’re hoping for.

According to a recent note out of Morgans, its analysts have put an add rating and $29.95 price target on the company’s shares.

Based on the current Woodside share price of $22.28, this suggests there’s upside of 34% for investors over the next 12 months.

In addition, the broker has pencilled in a $1.21 per share fully franked dividend in FY 2022. This represents a 5.4% yield at current levels, which brings the total return on offer to almost 40%.

Why does Morgans like Woodside?

Morgans likes Woodside due to its transformational merger with the petroleum assets of BHP Group Ltd (ASX: BHP). Its analysts believe Woodside is getting the better part of the deal.

The broker explained: “We believe WPL has benefited from being in the right place, at the right time. With: 1) BHP/WPL having an existing relationship, 2) BHP eager to boost its ESG profile, and 3) WPL being a quality operator (safe hands which is important for BHP). From an economic standpoint we think WPL is clearly getting the better of the deal, with synergies not baked into deal metrics and BHP willing to accept a discount. The deal is transformative, lifting WPL into being a top 10 global E&P with +2 billion barrels of 2P reserves, with EBITDA of US$4.7bnpa and growth options.”

If Morgans is on the money with this one, 2022 could be a bumper year for the Woodside share price.

The post Could 2022 be a bumper year for the Woodside (ASX:WPL) share price? appeared first on The Motley Fool Australia.

More reading

• 4 ASX shares tipped for buybacks in 2022: expert
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• Morgans names 2 ASX 200 shares to buy
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• Woodside (ASX:WPL) share price dips as company eyes east coast market

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Bruce Jackson.

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Now that 2021 is fast approaching its expiration date, many investors will no doubt be turning their attention to 2022 and what the imminent year might hold for ASX shares. With the S&P/ASX 200 Index (ASX: XJO) returning roughly 10.4% year to date in 2021 so far (touch wood), we can say that it has been a relatively successful year for the sharemarket on the whole.

But, of course, not all ASX 200 shares had a great year. Two of the worst performers on the entire market have been A2 Milk Company Ltd (ASX: A2M) and AGL Energy Ltd (ASX: AGL).

As of today’s pricing, AGL shares are down a nasty 51.4% year to date in 2021. A2 Milk shares fared even worse, losing more than 51.9% this year so far.

But could these ASX dogs stage a compelling turnaround as we venture into 2022?

Two ASX investing experts think so.

ASX expert picks out AGL share price

A recent Livewire Interview with James Gerrish from Market Matters and Jun Bei Liu of Tribeca Investment Partners covered A2 Milk and AGL respectively. These analysts singled out the companies for a 2021 Christmas stocking pick. It made for some interesting reading, particularly for shareholders in the companies.

So here’s what Mr Gerrish had to say on AGL:

I’ve certainly got one that’s been depressed over the last 12 months. It’s AGL Energy. It’s down 53%. I think it’s the fourth worst-performing stock on the ASX 200 this year.

A large portion of that drop is correct, but it now becomes an asset at play. So it is trading at around $5.50 a share. It’s cheaper than its retail business. So that, for me, is a buy and [it] will do better in ’22 than it did in ’21.

So a definite ‘buy’ for AGL from Gerrish. No doubt that will be music to the ears of long-suffering AGL shareholders going into next year.

A2 Milk is “going to really recover in the next 12 months”

But what of A2? Here’s what Jun Bei Liu had to say about A2 Milk shares:

A2 Milk is our name. I know it’s a tough name and it has certainly polarised the market.

You can’t go wrong with infant formula. A2 is a name we liked many years ago. It’s got a great brand and it has established distribution channels into Asia. And it’s got a business in the US and Australia market. It’s got a good market position. Now, during the pandemic, they’ve been hurt by pantry stocking… But the good thing is that the company doesn’t have any debt. It’s sitting with close to $600 million of cash. 

It’s still got a great brand and we’re seeing green shoots in some of its distribution channels… Pricing is up and volumes are good. Green shoots are looking promising and it’s clearly much cheaper than what it was. And the share price is still pretty much at an all-time low. My view is that it’s going to really recover in the next 12 months.

So there you have it — a bull case for a good 2022 for both AGL and A2 Milk. No doubt investors will be keeping their fingers crossed that these bull cases play out.

The post Experts tip 2 beaten up ASX shares for gains in 2022 appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts this Monday
• This ASX shares fund is closing. Manager reveals why
• Buying ASX shares? Why the ‘when’ is just as crucial as the ‘which’: expert
• What might trading volume tell us about the potential of an ASX share?
• ASX 200 (ASX:XJO) midday update: CSL acquisition talks, Charter Hall guidance upgrade

Motley Fool contributor Sebastian Bowen owns A2 Milk. 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 recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Starpharma Holdings Ltd (ASX: SPL) share price is lifting this afternoon after a bumpy morning of trading. This follows the company release of a sales update today on an anti-viral product against COVID-19.

At the time of writing, the biopharmaceutical company’s shares are up 3.56%, trading at $1.31.

In comparison, the S&P/ASX 200 Health Care Index (ASX: XHJ) is currently down 0.13% today.

What did Starpharma announce today?

Starpharma revealed it has received orders worth more than $2 million for its Viraleze antiviral nasal spray.

The company launched the product for commercial sale in Vietnam last week, as reported by Motley Fool Australia.

The nasal spray is said to show antiviral activity against multiple COVID-19 variants and other respiratory viruses including influenza.

Starpharma highlighted that Vietnam was in the midst of a serious Delta outbreak among its 98 million population. It noted that Viraleze was now available in that country “to retail consumers, clinics, hospitals and pharmacies through local medical distribution networks”.

Viraleze is available in Europe, Vietnam, India and New Zealand. The company is also advancing discussions with potential commercial partners in other countries.

Comment from management

CEO Jackie Fairley welcomed the update, saying:

We are delighted that the launch of Viraleze in Vietnam was so successful and has already generated significant sales.

This demand is indicative of the significant need for products like Viraleze which are complementary to vaccines and other preventative strategies.

Starpharma share price snapshot

Over the last 12 months, Starpharma shares have ranged 10% lower, falling 16.2% this year to date.

In contrast, the benchmark S&P/ASX 200 index (ASX: XJO) has returned about 11% in the previous 12 months.

This month, the Starpharma share price has gained more than 24%.

The post What is happening to the Starpharma (ASX:SPL) share price today? appeared first on The Motley Fool Australia.

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• Starpharma (ASX:SPL) share price shoots 6% higher on Roche agreement
• Starpharma (ASX:SPL) share price climbs 3% on back of Vietnam launch
• Why Bellevue Gold, South32, Starpharma, and Tuas shares are pushing higher
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Rio Tinto Limited (ASX: RIO) share price was on course to record a strong gain in 2021. That was until iron ore prices collapsed earlier this year.

Since then, the mining giant’s shares have fallen 28% from their highs, wiping out all their year to date gains in the process.

In light of this, Rio Tinto’s shares are now down 15% in 2021.

Is this a buying opportunity?

While the pullback in the Rio Tinto share price has been disappointing for shareholders, a couple of leading brokers see this as a buying opportunity for non-shareholders.

According to a note out of Morgan Stanley this morning, its analysts have retained their overweight rating and $110.50 price target on the company’s shares.

Based on the current Rio Tinto share price, this implies potential upside of approximately 12% for investors over the next 12 months.

Morgan Stanley likes Rio Tinto due to its exposure to aluminium and its belief that China’s housing outlook is improving.

Who else is bullish on the Rio Tinto share price?

Analysts at Goldman Sachs are also positive on the Rio Tinto share price. Last week they retained their buy rating and $121.00 price target on its shares.

The broker also likes Rio Tinto due to its exposure to aluminium and particularly its ELYSIS inert anode technology. This technology helps reduce the carbon footprint of aluminium production materially. Goldman sees opportunities for the technology to be licensed and suspects it could generate billions in revenue.

Goldman said: “In addition to copper production growth, Rio has one of the highest margin, lowest carbon emission aluminium businesses in the world, with over 2.2Mt of Ali production powered by hydro, and we think ELYSIS inert anode technology could be worth billions of $. Aluminium will contribute 20% of RIO’s group EBITDA in 2022 on our estimates.”

The post Analysts tip Rio Tinto (ASX:RIO) share price to shoot higher appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Bruce Jackson.

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The Macquarie Group Ltd (ASX: MQG) share price is up 0.54% in afternoon trading, currently at $203.06 per share.

The S&P/ASX 200 Index (ASX: XJO) is in the green as well, also up 0.63% at this same time.

But, so far in December, the Macquarie share price has outperformed the ASX 200, with Macquarie gaining 3.58% compared to a benchmark gain of 2.27%. A trend we’ve seen playing out all year.

New capital and new management

The Macquarie share price ended last month on a high note. Shares gained 1.4% on 30 November when the banker, financial advisory and fund manager announced it had closed its share purchase plan (SPP). The SPP successfully raised $1.3 billion in new capital.

The 6.8 million newly issued shares from the SPP began trading on the ASX on Monday 6 December.

The company also received a boost early this month with a new management announcement.

On 2 December the Macquarie share price finished the day up 1.5% after reporting that former Reserve Bank of Australia (RBA) governor Glenn Stevens will replace Peter Warne as the new chairman of the Macquarie board. The management handover will take place in May 2022.

What this expert said about the Macquarie share price

As part of The Motley Fool’s ongoing Ask a Fund Manager series, we interviewed Kardinia Capital’s portfolio manager Kristiaan Rehder, in mid-November. (You can find the full 2-part interview here and here.)

One of the questions we posed was, “If the market closed tomorrow for 5 years, which ASX shares would you want to hold?”

Rehder told us he thought the Macquarie share price had further to run:

It’s very hard to go past Macquarie. Macquarie’s performed very strongly. It’s a core holding of ours; we’ve held it for many years.

Its annuity business now makes up around 60% of group earnings. It’s really shifting away from being a business that was largely a market-facing business to one that’s much more stable. Its assets under management continue to grow.

It has good exposure to infrastructure and green energy. Around a $1.8 billion investment in these sectors is currently held on its balance sheet. It provides an ongoing pipeline of profits on asset sales over time. Returns across the business remain high. So it wasn’t a huge surprise to us that they launched the recent capital raising.

The sort of returns Macquarie is currently making, it certainly has the potential to create significant shareholder value through time.

Macquarie share price snapshot

The Macquarie share price has gained 45% in 2021, well outpacing the 11% year-to-date gains posted by the ASX 200.

Macquarie also pays a 3% trailing dividend yield, 40% franked.

The post Why is the Macquarie (ASX:MQG) share price having such a good month so far? appeared first on The Motley Fool Australia.

More reading

• Is the CSL (ASX:CSL) share price great value? Here’s what analysts think
• 2 ASX shares that tick all the right boxes for the long term: expert
• How did the Macquarie (ASX:MQG) share price stack up in November?
• Did the Rio Tinto (ASX:RIO) share price start a recovery in November 2021?
• Macquarie (ASX:MQG) share price gains as former RBA governor named chair

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 recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Doctor Care Anywhere Group PLC (ASX: DOC) share price has gained the attention of investors on Monday.

Earlier in the day, shares in the UK-based telehealth provider surged more than 9% higher to 47 cents apiece. However, upwards momentum quickly reverted back to downwards pressure. As a result, the company’s share price is now down 1.1% to 42.5 cents.

Interestingly, the small-cap company has experienced an above-average amount of volume traded. At the time of writing, more than 357,000 Doctor Care Anywhere shares have exchanged hands today. This is the highest level of volume since the company endured a 9.7% fall one week ago.

So, what could be attracting heightened focus on the Doctor Care Anywhere share price today?

Telehealth is here to stay

Investors seem to be paying extra attention to telehealth companies such as Doctor Care Anywhere today. This follows a media release from the Australian Government Department of Health detailing a $308.6 million investment in the country’s primary care health system.

According to the release, telehealth will become a permanent feature of primary health care. As such, $106 million of the $308.6 million in government spending will go towards telehealth for Australian patients. This investment will be spread across four years.

The government aims to ensure greater flexibility for patients and doctors by allowing medical personnel to continue to leverage online and phone consultations.

Furthermore, the release stated that since early March 2020, more than 86.3 million COVID-19 Medicare Benefits Schedule (MBS) services have been delivered to 16.1 million patients.

The government’s backing of telehealth services along with this announcement has likely has put the Doctor Care Anywhere share price in focus today. Though, investors don’t seem to be overly optimistic with the news as its shares come under pressure in afternoon trade.

Doctor Care Anywhere share price recap

While telehealth might have gained popularity in the last year due to ongoing conditions, the Doctor Care Anywhere share price hasn’t benefitted from it.

In the last year, shares in the telehealth platform provider have sunk 65% in value. Meanwhile, the broader health care sector has gained 5.6% in value. The poor performance is hard to decipher considering the company reported a record quarter in October for the number of patients who had their first consultation using the platform.

Based on the current Doctor Care Anywhere share price, the company holds a market capitalisation of ~$78 million.

The post Why is the Doctor Care Anywhere (ASX:DOC) share price getting attention today? appeared first on The Motley Fool Australia.

More reading

• 2 fast growth ASX shares that could be buys in December 2021
• 2 ASX shares that may be too good to ignore

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Doctor Care Anywhere Group PLC. The Motley Fool Australia has recommended Doctor Care Anywhere Group PLC. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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