Online Medicare plan marketplace operator GoHealth (NASDAQ:GOCO) was having a fine week. As of mid-afternoon Friday, the company's stock was up nearly 10% week to date as a crucial period for the sprawling health insurance program kicked off.
GoHealth concentrates on providing Medicare Advantage plans -- the healthcare policies offered by commercial insurers that are effectively an enhanced version of "Original" Medicare provided to U.S. seniors by the federal government. The company also provides advisory services for both Original Medicare and Medicare Advantage coverage.
So it stands to reason that investor interest in the stock has grown as the Open Enrollment Period for Medicare begins. This lasts from Oct. 15 to Dec. 7, and it is the time of year when eligible individuals can either join a plan if they haven't done so during their first period of eligibility, switch a plan, or drop their current one entirely.
As it's early days for this current Medicare enrollment cycle, GoHealth hasn't yet provided any metrics or financial figures for the period.
Meanwhile, in another move that might be helping push up its stock, GoHealth revealed that it's beefing up its C-suite. The company announced Wednesday that its current CFO, Travis Matthiesen, will take on the role of chief transformation officer.
A detailed job description for that position wasn't provided, although GoHealth CEO Clint Jones was quoted as saying that it aims to "add a more broadly experienced public company CFO to our leadership team."
Although it effectively brokers high-demand products, GoHealth stock hasn't been in high demand for investors since the company reported its Q2 earnings in August. It posted a significantly deeper-than-expected net loss, although it trounced analyst estimates for revenue.
Some might think the company has been unfairly punished for this. Additionally, certain expansions to Medicare are currently on the table in the negotiations over the massive infrastructure bill currently being considered by Congress, although it's still too soon to determine how they might ultimately fare.