Health Net Lifted to Outperform at Zacks (HNT)
Health Net (NYSE:HNT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Friday. The firm currently has a $56.00 price target on the stock. Zacks‘s price target indicates a potential upside of 19.66% from the company’s current price.
Shares of Health Net (NYSE:HNT) traded up 0.49% during mid-day trading on Friday, hitting $47.03. 496,907 shares of the company’s stock traded hands. Health Net has a 52-week low of $25.40 and a 52-week high of $46.95. The stock has a 50-day moving average of $43.24 and a 200-day moving average of $38.09. The company has a market cap of $3.777 billion and a price-to-earnings ratio of 15.96.
Health Net (NYSE:HNT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.89. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 24.9% on a year-over-year basis. On average, analysts predict that Health Net will post $2.30 earnings per share for the current fiscal year.
HNT has been the subject of a number of other recent research reports. Analysts at Cowen and Company raised their price target on shares of Health Net from $37.00 to $45.00 in a research note on Thursday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Health Net in a research note on Thursday, August 7th. They now have a $42.00 price target on the stock, up previously from $41.00. Finally, analysts at Jefferies Group upgraded shares of Health Net from an “underperform” rating to a “buy” rating in a research note on Thursday, July 24th. They now have a $59.00 price target on the stock, up previously from $33.00. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Health Net currently has an average rating of “Hold” and an average target price of $47.75.
Health Net, Inc is a managed care company that delivers managed health care services through health plans and government-sponsored managed care plans.
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