Odontoprev SA, a dental benefits company, climbed the most in three months after profit beat analysts’ forecasts as the company increased the number of plans sold to individuals.
The shares rose 2.1 percent to 9.10 reais at the close of trading in Sao Paulo, the biggest gain since July 30. The BM&FBovespa Small Cap Index fell 0.3 percent.
Odontoprev is focusing on selling dental plans to consumers and smaller businesses through bank branches after forming a partnership with Banco do Brasil SA, founder Randal Zanetti said in an interview June 11. The company bolstered its ability to pursue the strategy when Banco Bradesco SA agreed Oct. 14 to raise its stake in Odontoprev to 50.01 percent.
Adjusted net income rose 22 percent in the third quarter to 43.2 million reais ($19.8 million) from a year earlier, according to data compiled by Bloomberg. That compares with an average estimate of 41.9 million reais among five analysts surveyed by Bloomberg. The company released its results after the market closed yesterday.