The Medicare Private Ltd (ASX: MPL) share price hit a 52-week high today despite the company releasing no news to the market.
Medicare is one of the largest Australian private health insurance providers operating under two brands Medibank and ahm. The Australian government owned Medibank until 2014 when it listed on the Australian Stock Exchange.
In Medibank's last annual report for FY 2017 revenue reported remained in line with the prior year at $6,797 million, with profit for the year rising by 7.6% to $449.5 million.
Basic earnings per share reported in FY 2017 mirrored the full year profit increase of 7.6%. Dividends paid climbed to 12c, up 9.1% from the prior year.
In August analysts at Morgan Stanley had a share price target for Medibank Private of $2.50.
