NIB Holdings (ASX: NHF) Slips Nearly 2% Amid Investor Profit Taking

Wed 04 Jun 25, 02:38 AM |

Highlights

NIB shares drop despite being up 24% year-to-date, suggesting profit-taking activity.

Morgan Stanley keeps "equal-weight" rating with AUD6.85 target, close to current price.

Stock underperforms ASX200 index despite broader market gains.

NIB Holdings Ltd (ASX: NHF) shares declined nearly 2% to AUD6.84 on Wednesday, underperforming the broader S&P/ASX 200 Index, which rose 0.72% to 8,528.00. The decline is attributed to investor profit taking following a 24% year-to-date rally in the private health insurer’s stock.

Despite the pullback, NIB remains one of the top-performing stocks in its sector this year. However, analysts caution that much of the near-term upside may already be priced in. Morgan Stanley reaffirmed an "equal-weight" rating on Tuesday and set a price target of AUD6.85—essentially where the stock is currently trading.

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