Universal American Corp. Price Target Raised to $9.00 at Wedbush (UAM)
Wedbush lifted their price objective on shares of Universal American Corp. (NYSE:UAM) from $8.00 to $9.00 in a research note issued on Thursday. Wedbush’s price target points to a potential upside of 11.25% from the company’s current price.
Shares of Universal American Corp. (NYSE:UAM) opened at 8.03 on Thursday. Universal American Corp. has a one year low of $6.60 and a one year high of $11.00. The stock’s 50-day moving average is $8.27 and its 200-day moving average is $7.48. The company’s market cap is $694.9 million.
Universal American Corp. (NYSE:UAM) last issued its quarterly earnings data on Tuesday, July 29th. 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. On average, analysts predict that Universal American Corp. will post $0.20 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Universal American Corp. from a “neutral” rating to an “underperform” rating in a research note on Wednesday. They now have a $7.60 price target on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Universal American Corp. currently has a consensus rating of “Hold” and an average target price of $8.82.
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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