H&E Daily "RDOR: Strong buyback pace in Jun (+); Afya/YDUQS/ANIM: Bill..."

Research evidence excerpt

H&E Daily "RDOR: Strong buyback pace in Jun (+); Afya/YDUQS/ANIM: Bill..."

Global Research

10 July 2026ab

H&E Daily Equities

Latin AmericaRDOR: Strong buyback pace in Jun (+); Afya/

YDUQS/ANIM: Bill proposes new 5-year Healthcare

moratorium for medical schools (-/=) Leonardo Olmos,AnalystCFA

leonardo.olmos@ubs.com

+55-11-9658 7533

Eduardo Resende

Healthcare Associate Analyst

RDOR: Buybacks advance in Jun, controllers remain active in rising stake eduardo.resende@ubs.com

+55-11-2767 6015

RDOR released yesterday its report of individual and consolidated ownership

position from June, outlining that in the month, the company executed R$638mn in

buybacks (R$925mn YTD). Meanwhile, RDOR's controlling shareholder group

acquired approximately R$15mn in company's shares in Jun. The company also

cancelled 49mn treasury shares (priorly announced in the new buyback program).

UBS's view: Positive for the stock, as both the company’s buybacks and continued

purchases by the controlling shareholder group reinforce a constructive view on

RDOR’s fundamentals not fairly priced in at current valuation levels, in our view. We

recall that, on June 10, the company announced a new R$1.0bn buyback program

with a one-year duration (link). Since June 11, RDOR has repurchased ~R$385mn in

shares (38% of the authorized amount), highlighting a strong pace of execution.

Importantly, the company still has relevant remaining capacity under the program,

which could provide technical support for the stock in the near term, particularly

relevant given the current overhang associated with the stake sale by a large

shareholder (more here).

ONCO/RDOR: RJ court suspends Unimed Ferj’s out-of-court debt restructuring

RJ Court has suspended the homologation process of Unimed Ferj’s out-of-court