Is this as good as it gets for Medibank Private Ltd (ASX: MPL)?
Click to enlarge. Source: Yahoo Finance.
Following the release of its half-year results this morning, shares of Medibank Private are getting crunched.
Down 5.5% within the first hour of trade, we've warned on many occasions that Medibank shares are likely overvalued at today's prices and despite being Australia's largest health insurer, they aren't a good buy today.
This morning, fellow Motley Fool Contributor, Ryan Newman, summed it up best when he said, "Although the insurer is making cost and efficiency improvements, it is still quite a risky investment considering the lofty price at which the stock currently trades. As such, investors may be better off exploring some of the market's other more compelling opportunities instead."
