Jefferies Group Upgrades Health Net to Buy (HNT)
Health Net (NYSE:HNT) was upgraded by equities research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports.
Health Net (NYSE:HNT) traded up 3.84% on Monday, hitting $33.80. The stock had a trading volume of 276,013 shares. Health Net has a one year low of $21.09 and a one year high of $33.70. The stock’s 50-day moving average is $30.86 and its 200-day moving average is $30.21. The company has a market cap of $2.684 billion and a price-to-earnings ratio of 24.46.
Health Net (NYSE:HNT) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts predict that Health Net will post $2.25 earnings per share for the current fiscal year.
A number of other firms have also recently commented on HNT. Analysts at Susquehanna upgraded shares of Health Net (NYSE:HNT) from a “neutral” rating to a “positive” rating in a research note to investors on Monday, August 26th. They now have a $40.00 price target on the stock, up previously from $35.00. Separately, analysts at Monness Crespi & Hardt raised their price target on shares of Health Net (NYSE:HNT) from $45.00 to $50.00 in a research note to investors on Wednesday, August 21st. They now have a “buy” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of Health Net (NYSE:HNT) from $33.00 to $36.00 in a research note to investors on Friday, July 26th. They now have a “neutral” rating on the stock.
One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.80.
Health Net, Inc is a managed care company that delivers managed health care services through health plans and government-sponsored managed care plans.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.