Deutsche Bank Reiterates “Hold” Rating for Health Net (HNT)
Health Net (NYSE:HNT)‘s stock had its “hold” rating reiterated by research analysts at Deutsche Bank in a report released on Wednesday. They currently have a $41.00 target price on the stock, up from their previous target price of $37.00. Deutsche Bank’s target price would indicate a potential downside of 4.50% from the company’s current price.
A number of other analysts have also recently weighed in on HNT. Analysts at Jefferies Group reiterated a “buy” rating on shares of Health Net in a research note on Thursday, July 10th. They now have a $52.00 price target on the stock, up previously from $47.00. Separately, analysts at Leerink Swann raised their price target on shares of Health Net from $37.00 to $45.00 in a research note on Tuesday, July 1st. Finally, analysts at Sterne Agee initiated coverage on shares of Health Net in a research note on Friday, June 27th. They set a “buy” rating and a $60.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.31.
Health Net (NYSE:HNT) traded down 1.82% during mid-day trading on Wednesday, hitting $42.15. 568,336 shares of the company’s stock traded hands. Health Net has a 52-week low of $25.40 and a 52-week high of $43.89. The stock has a 50-day moving average of $40.99 and a 200-day moving average of $35.56. The company has a market cap of $3.381 billion and a P/E ratio of 23.09.
Health Net (NYSE:HNT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.42 by $0.03. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts expect that Health Net will post $2.28 EPS for the current fiscal year.
Health Net, Inc is a managed care company that delivers managed health care services through health plans and government-sponsored managed care plans.