While GoHealth’s (GOCO) shares have declined considerably over the past few months, it has been making several advancements with the help of its Encompass platform. So, let’s find out if it is a good idea to buy the stock on the pullback. .Health insurance marketplace operator and Medicare-focused digital health company GoHealth, Inc. (GOCO) made its stock market debut in July last year, marking one of the largest healthcare IPOs. On August 2, GoodRx Holdings, Inc. (GDRX) and GOCO announced an exclusive agreement to bring GOCO’s Medicare enrollment and engagement solutions directly to GDRX’s users on its platform. Also, its proprietary Encompass platform, launched last August, has been helping GOCO improve its offerings.
However, the stock has lost 58.6% over the past year and 40.9% over the past month to close yesterday’s trading session at $5.36. After reporting unimpressive second-quarter financials, it also hit its all-time low of $4 on August 13, 2021. While health insurance companies such as GOCO could witness increased activities during the open enrollment period for 2022 Medicare coverage, their costs are also expected to increase. Moreover, GOCO has seen a decrease in hedge fund sentiment lately. So, its near-term prospects look bleak.
Here are the factors that could shape GOCO’s performance in the upcoming months: