The Medibank (ASX:MPL) share price just hit a new 52-week high

What's been driving the Medibank share price to new heights?

| More on:
red arrow representing a rise of the share price with a man wearing a cape holding it at the top

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

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.

More on 52-Week Highs

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
52-Week Highs

13 ASX 200 shares at 52-week highs

These shares are making their shareholders smile on Thursday.

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
52-Week Highs

These 5 ASX 200 shares just hit new 52-week highs

Do you own any of these five lucky stocks?

Read more »

ETF on white blocks with a rising arrow on top of coin piles.
52-Week Highs

12 ASX ETFs breaking the mould to hit 52-week highs today

What a day for ASX ETF investors!

Read more »

A happy boy with his dad dabs like a hero while his father checks his phone.
52-Week Highs

Why is the A2 Milk share price up 46% year to date and at a 52-week high?

This infant formula company's shares have delivered the goods this year.

Read more »

Man sitting in a plane looking through a window and working on a laptop.
Travel Shares

Why is the Webjet share price racing to a 52-week high today?

Webjet has been busy talking up its WebBeds business this morning.

Read more »

Man pointing at a blue rising share price graph.
Financial Shares

Big ASX news: Macquarie share price hits new 52-week high

It's been a great day to own Macquarie shares...

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
52-Week Highs

Metcash share price hits 52-week high on broker upgrade: Time to buy?

Brokers have responded positively to its trading update.

Read more »

a woman sits amid a stylish home setting on a sofa with plush cushions with a coffee table and plant in the foreground while she peruses a tablet device.
52-Week Highs

52-week high! ASX All Ords stock surges 5% as chair steps down

Investors are shopping for Adairs shares after an announced leadership change.

Read more »