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Universal American Corp. (NYSE:UAM) shares traded down 6.1% during trading on Tuesday following a dissappointing earnings announcement, AnalystRatings.NET reports. The company traded as low as $7.63 and last traded at $7.81, with a volume of 133,534 shares traded. The stock had previously closed at $8.32.

The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.05. The company had revenue of $519.00 million for the quarter, compared to the consensus estimate of $499.23 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis.

A number of research firms have recently commented on UAM. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Universal American Corp. in a research note on Wednesday, July 16th. They now have a $8.00 price target on the stock, up previously from $7.50. Analysts at TheStreet upgraded shares of Universal American Corp. from a “sell” rating to a “hold” rating in a research note on Friday, June 20th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.96.

The stock has a 50-day moving average of $8.28 and a 200-day moving average of $7.47. The company’s market cap is $694.0 million.

Universal American Corp., through its health insurance and managed care subsidiaries, primarily serves the growing Medicare population by providing Medicare Advantage products.

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