Amazon shares rebound on Thursday, e-commerce giant acquires start-up firm Health Navigator

October 25, 2019 9:31 am

Amazon.com Inc (AMZN) said earlier this week that it had acquired healthcare start-up firm Health Navigator, or its second acquisition in the sector of healthcare services.

However, the financial terms of the agreement remained undisclosed.

Amazon shares closed higher for the seventh time in the past eleven trading sessions on NASDAQ on Thursday. The stock went up 1.06% ($18.61) to $1,780.78, after touching an intraday high at $1,787.97, or a price level not seen since October 22nd ($1,789.78).

Shares of Amazon.com Inc have risen 18.56% so far in 2019 compared with a 20.08% gain for the benchmark index, S&P 500 (SPX).

In 2018, Amazon’s stock went up 28.43%, thus, it outperformed the S&P 500, which registered a 6.24% loss.

According to the e-commerce giant, the acquisition of Health Navigator is a part of a new offering to its employees, Amazon Care. The latter is to ensure that Amazon employees receive fast-paced access to healthcare facilities without the need to make an appointment.

Last year, Amazon.com Inc bought online pharmacy PillPack.

Analyst stock price forecast and recommendation

According to CNN Money, the 43 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $2,275.00, with a high estimate of $2,615.00 and a low estimate of $2,080.00. The median estimate represents a 27.75% upside compared to the closing price of $1,780.78 on October 24th.

The same media also reported that at least 44 out of 48 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 4 – as “Outperform”.

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