Análise do comportamento de ações e indicadores fundamentalistas selecionados do subsetor de comércio e distribuição da área de saúde na B3

Abstract

The present work aimed to analyze the behavior of the stocks of the companies Raia Drogasil, Hypera Pharma, Profarma and Dimed Group, inserted in the sub-sector of commerce and distribution of the health area in B3, in the period from 2012 to 2019. The accounting data of companies were collected via their respective investor information web pages. The research problem was to verify how the fundamentalist indicators are related to the quotation of the analyzed stocks. As a methodology, fundamental analysis was mainly used to evaluate companies and their fundamental indicators. With the aid of descriptive statistics, correlation coefficient, unit root tests, cointegration tests and Granger causality tests, the next steps of the work were carried out in order to analyze and evaluate the situation of the selected companies in a broad and in-depth way. The main results obtained were that the fundamentalist indicators 𝑃𝑉𝑃𝐴, 𝐿𝑃𝐴 and 𝑉𝑃𝐴 tend to better explain the behavior of the quotes of the selected companies and have stronger correlations with stock prices. And the quotes from Raia Drogasil and Hypera Pharma showed the highest degree of association, where it was also identified that, through Granger's causality, the company Raia Drogasil causes Hypera Pharma. It was concluded that there is a relationship between the fundamentalist indicators of the companies and their quotations, being necessary the joint analysis of the largest possible number of accounting and fundamentalist indicators to improve the evaluation and efficiency of the analysis, in addition to intuition and expectations the specialist.