WebMD Health Corp. (WBMD) Upgraded to Hold by Zacks Investment Research
WebMD Health Corp. (NASDAQ:WBMD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “WebMD announced today that is has signed an agreement to acquire Conceptis Technologies Inc., a Montreal-based provider of online and offline medical education and promotion aimed at physicians and other healthcare professionals. Conceptis has been successful in developing a strong online presence in the cardiology community and is highly respected for the depth and breadth of content contained on its flagship. With the combination of two of the leading cardiology channels on the Internet, Medscape Cardiology and www.theheart.org, WebMD is well positioned to further its lead and penetration in this high value segment of medical marketing. “
Several other equities research analysts have also recently issued reports on WBMD. Vetr cut shares of WebMD Health Corp. from a “buy” rating to a “hold” rating and set a $67.25 price objective for the company. in a research report on Monday, May 23rd. William Blair lowered shares of WebMD Health Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, June 3rd. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $75.00 target price on shares of WebMD Health Corp. in a research note on Wednesday, June 22nd. Leerink Swann reaffirmed an “outperform” rating on shares of WebMD Health Corp. in a research note on Friday, June 24th. Finally, Mizuho assumed coverage on shares of WebMD Health Corp. in a research note on Monday, July 11th. They set a “buy” rating and a $68.00 target price for the company. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $64.79.
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WebMD Health Corp. (NASDAQ:WBMD) traded up 0.02% during midday trading on Tuesday, hitting $49.03. 323,217 shares of the stock traded hands. The firm has a market cap of $1.84 billion, a P/E ratio of 30.19 and a beta of 0.70. WebMD Health Corp. has a 12-month low of $37.57 and a 12-month high of $67.55. The company’s 50-day moving average is $53.50 and its 200 day moving average is $59.40.
WebMD Health Corp. (NASDAQ:WBMD) last released its quarterly earnings data on Monday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. WebMD Health Corp. had a net margin of 11.05% and a return on equity of 40.02%. The firm earned $167.60 million during the quarter, compared to analysts’ expectations of $165.46 million. During the same period last year, the business earned $0.32 earnings per share. WebMD Health Corp.’s revenue was up 13.0% compared to the same quarter last year. On average, analysts anticipate that WebMD Health Corp. will post $1.82 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of WebMD Health Corp. by 1.4% in the first quarter. State Street Corp now owns 633,225 shares of the company’s stock worth $39,659,000 after buying an additional 8,677 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of WebMD Health Corp. by 23.0% in the first quarter. Renaissance Technologies LLC now owns 855,900 shares of the company’s stock worth $53,605,000 after buying an additional 159,920 shares in the last quarter. BlackRock Inc. increased its position in shares of WebMD Health Corp. by 131.1% in the first quarter. BlackRock Inc. now owns 2,491 shares of the company’s stock worth $156,000 after buying an additional 1,413 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of WebMD Health Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 935,740 shares of the company’s stock worth $58,605,000 after buying an additional 2,625 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of WebMD Health Corp. during the fourth quarter worth about $11,992,000. Institutional investors own 84.83% of the company’s stock.
About WebMD Health Corp.
WebMD Health Corp. is a provider of health information services. The Company provides its services to consumers, physicians and other healthcare professionals, employers and health plans through its public and private online portals, mobile platforms and health-focused publications. The WebMD Health Network includes: www.WebMD.com, its primary public portal for consumers and related mobile-optimized sites and mobile apps; www.Medscape.com, its primary public portal for physicians and other healthcare professionals and related mobile services; and other sites through which, the Company provides its branded health and wellness content, tools and services.
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