The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has gotten off to a shaky start to the new financial year, having fallen 18.2 points or 0.3% thus far. While the effects have been widespread, the market’s fall has also provided an opportunity to buy a number of quality companies at discounted prices.
Here are three worth your attention today…
NIB Holdings Ltd (ASX: NHF): Although no specific news has been released by the company that would explain the movement, the health insurance business has fallen a massive 4.9% in trading today. Shares of the blue chip stock are now trading at $3.10 – 8.3% below their recent peak at $3.38 – and offer a fully franked 3.2% dividend yield.
Nearmap Limited (ASX: NEA): The mapping company has dropped 1.3c or 3% today and is now trading at 41.7c apiece. The small-cap superstar is hovering a massive 38.7% below its all-time high and, although it boasts a forward P/E ratio of 42, would make for an excellent buy today.
ResMed Inc. (CHESS) (ASX: RMD): The manufacturer of medical products for the treatment of respiratory disorders has also endured the market’s wrath today with the shares plunging 3.1%. If ever an investor was looking for a consistently performing company – this is the one to buy. Remarkably, it has increased revenue in every single quarter since listing in 1995.
Motley Fool contributor Ryan Newman owns shares in NIB Holdings Ltd.