1Life Healthcare Inc (NASDAQ: ONEM) has had a good run since it went public. In spite of the overall market slump, the stock has held steady above its IPO price. In Friday’s session, the company closed the day with gains of 11.52% to close at $21.30, significantly higher than the IPO price of $14.
Investors are looking forward to the company’s quarterly results on the 18th of March. Back on March 4th, the comp announced that it would release its Q4 and 2019 full-year results on the 18th of March. The company further announced that the results would be released at market close and that investors can listen to the more detailed report in a podcast that will be available on the company website.
Since going public, the company has also got a boost from the prevailing political environment in the United States. The stock rallied after Joe Biden won against Bernie Sanders in the Democratic presidential primaries Super Tuesday. This followed a statement in the company’s IPO offering that its revenues would drop under a government-run healthcare system, as proposed by Senator Sanders in his campaign.
In its statement, the company stated that if the number of members with private health insurance drops, including due to factors such as a drop in employer-sponsored healthcare, the company’s revenues would be hurt. The statement further added that Senator Sander’s Medicare for all would challenge the company’s business model.
From its price action, the stock is trading at a support level. In Friday’s session, it opened the day at $20.70 and traded between a low of $16.16 and a high of $21.85, before closing the day at $21.30. Volumes in the day stood at 1.31 million.
About 1Life Healthcare Inc
1Life Healthcare Inc is primary care platform that is modeled on direct consumer enrolment, and employer sponsorship. It is based in San Francisco, California.