Ramsay Health Care (OTCMKTS:RMYHY) Hits New 1-Year High – Here’s Why

Shares of Ramsay Health Care Ltd. Unsponsored ADR (OTCMKTS:RMYHY) hit a new 52-week high during trading on Thursday . The company traded as high as $6.26 and last traded at $6.26, with a volume of 2701 shares trading hands. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RMYHY shares. Morgan Stanley lowered shares of Ramsay Health Care to an “underweight” rating in a research note on Monday. Canaccord Genuity Group raised Ramsay Health Care to a “hold” rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Ramsay Health Care Price Performance

The company’s fifty day simple moving average is $5.64 and its two-hundred day simple moving average is $5.61.

About Ramsay Health Care

Ramsay Health Care is a leading global hospital and healthcare services provider headquartered in Sydney, Australia. Founded in 1964 by Paul Ramsay, the company has grown from a single private hospital to one of the world’s largest operators of private acute care facilities. Over the decades, Ramsay has expanded its capabilities to include a diverse portfolio of medical services, including surgical procedures, diagnostic imaging, rehabilitation therapies, subacute care and mental health programs.

The company’s core business revolves around the ownership, management and operation of acute care hospitals, medical centres and day surgery facilities.