What’s been driving the Medibank share price to new heights?
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The Medibank Private Ltd (ASX: MPL) share price hit another 52-week high today, despite no news having been released by the company.
Right now, the Medibank share price is $3.28, 0.15% lower than its previous close.
However, earlier today it reached $3.39. That represents a gain of 3.24%.
Let’s take a look at what Medibank has been up to lately.
The latest from Medibank
The last time the market heard price-sensitive news from Medibank was way back on 19 April.
Then, the healthcare and health insurance company announced it had found its new chief executive officer (CEO), David Koczkar.
News of Koczkar’s appointment was met with indifference from the market. The Medibank share price ended the session at the exact same point it had ended the previous day’s.
Koczkar seated himself behind Medibank’s biggest desk on 17 May, after Medibank’s now former-CEO Craig Drummond cleared it out.
Before he took the role of CEO, Koczkar had been Medibank’s chief customer officer – a role in which Medibank’s chair, Mike Wilkins, said he was “instrumental”.
Koczkar commented on his appointment, saying:
I am thrilled to be able to continue this work, working with the amazing team at Medibank to continue to ensure our focus remains on meeting the needs of our customers and transforming the way we work as we become a broader healthcare company.
Koczkar has also previously been the group chief commercial officer at Jetstar.
Despite not moving from news of a new CEO, the Medibank share price has gained 13.7% since.
Medibank share price snapshot
The Medibank share price has been having a good roll on the ASX lately.
Right now, it’s 7.7% higher than it was at the start of this year. It has also gained 9.9% since this time last year.
The company has a market capitalisation of around $9 billion, with approximately 2.7 billion shares outstanding.
Should you invest $1,000 in Medibank right now?
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Motley Fool contributor Brooke Cooper 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.