Rede D’Or (RDOR3) Soars, Leading Ibovespa Gains After Stellar Q3 2025 Results – What Drove the Rally?
- Why Did Rede D’Or Shares Explode on November 6?
- What Specifically Impressed Analysts?
- Is RDOR3 Still a Buy After This Rally?
- What’s Next for Brazil’s Hospital Champion?
- Rede D’Or Q3 2025 Performance: Your Questions Answered
Rede D’Or shares (RDOR3) skyrocketed over 6% on November 6, 2025, becoming the top performer on Brazil’s Ibovespa index after reporting Q3 earnings that crushed market expectations. The hospital network posted a R$1.54 billion net profit (up 32% YoY) and R$3.23 billion EBITDA (24.6% growth), triggering bullish upgrades from major banks. Analysts highlight record hospital occupancy, strong oncology performance, and insurance segment resilience as key drivers. With multiple firms raising price targets above R$50, we break down why RDOR3 became the market’s darling.
Why Did Rede D’Or Shares Explode on November 6?
At 1:10 PM Brasília time, RDOR3 was trading at R$46.59, up 6.42% from the previous close after hitting an intraday high of 6.94%. This surge came immediately after the company released Q3 2025 results showing:
- Net profit of R$1.54B vs R$1.2B expected (LSEG consensus)
- EBITDA of R$3.23B vs R$2.73B forecast
- Hospital EBITDA margin at 26.7% (60bps above BofA estimates)
"The numbers were fireworks across all metrics," noted the BTCC research team. "Five extra business days in Q3 and 81.6% hospital occupancy – way above historical Q3 averages – created perfect conditions for this beat."
What Specifically Impressed Analysts?
Breaking down the bullish reactions:
| Bank | Key Positive Callouts |
|---|---|
| BTG Pactual | Record hospital metrics (occupancy, surgeries, net revenue), oncology excellence, insurance resilience |
| Bank of America | 60bps hospital margin surprise, sustainable volume growth in integrated ecosystem |
| Santander | SulAmérica’s robust performance with improving claims ratio and EBITDA expansion |
BofA analysts added: "The MLR (claims ratio) control was surgical – exactly what you want to see when interest rates are volatile."
Is RDOR3 Still a Buy After This Rally?
Here’s where major banks stand on November 7, 2025:
| Institution | Rating | Price Target | Upside* |
|---|---|---|---|
| Itaú BBA | Buy | R$51.00 | 16.49% |
| Santander | Buy | R$51.50 | 17.63% |
| BTG Pactual | Buy | R$48.00 | 9.64% |
| BofA | Buy | R$45.00 | 2.79% |
| Safra | Neutral | R$44.00 | 0.50% |
*Based on R$43.78 November 5 close (Source: TradingView)
The BTCC team observes: "With potential JV expansions, a possible Fleury merger, and oncology optionality, RDOR3 isn’t just riding healthcare tailwinds – it’s steering the sector."
What’s Next for Brazil’s Hospital Champion?
Three catalysts to watch:
- Interest Rate Sensitivity: As a capital-intensive business, falling rates could further boost valuations
- M&A Potential: Market rumors suggest active consolidation talks in diagnostic imaging
- Seasonality: Q4 typically sees higher elective procedures after year-end insurance renewals
As one fund manager quipped: "When Rede D’Or sneezes, the whole healthcare sector catches a cold – but this quarter, they’re giving everyone vitamins."
This article does not constitute investment advice. Data verified via LSEG, B3 filings, and bank research reports as of November 7, 2025.
Rede D’Or Q3 2025 Performance: Your Questions Answered
How much did RDOR3 rise after earnings?
Shares surged 6.42% to R$46.59 on November 6, with an intraday peak of +6.94%.
What was Rede D’Or’s EBITDA margin?
The hospital segment achieved 26.7% EBITDA margin, beating estimates by 60 basis points.
Which bank has the highest price target?
Santander leads with a R$51.50 target (17.63% upside from pre-earnings close).
