Zacks Investment Research Upgrades WebMD Health Corp. (WBMD) to Hold
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. “
WBMD has been the subject of a number of other reports. Mizuho assumed coverage on WebMD Health Corp. in a research note on Monday, July 11th. They set a “buy” rating and a $68.00 price objective for the company. Leerink Swann reiterated a “buy” rating and set a $70.00 price objective on shares of WebMD Health Corp. in a research note on Tuesday, August 9th. KeyCorp cut their price objective on WebMD Health Corp. from $74.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday, August 16th. Citigroup Inc. boosted their price objective on WebMD Health Corp. from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $62.00 price objective on shares of WebMD Health Corp. in a research note on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. WebMD Health Corp. has a consensus rating of “Buy” and a consensus price target of $64.79.
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Shares of WebMD Health Corp. (NASDAQ:WBMD) traded up 0.479% on Tuesday, reaching $49.255. 267,114 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $53.50 and a 200 day moving average price of $59.40. WebMD Health Corp. has a one year low of $37.57 and a one year high of $67.55. The firm has a market cap of $1.85 billion, a PE ratio of 30.329 and a beta of 0.70.
WebMD Health Corp. (NASDAQ:WBMD) last released its quarterly earnings results on Monday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The business earned $167.60 million during the quarter, compared to the consensus estimate of $165.46 million. WebMD Health Corp. had a return on equity of 40.02% and a net margin of 11.05%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Analysts expect that WebMD Health Corp. will post $1.82 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of WebMD Health Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 2,888,471 shares of the company’s stock valued at $167,850,000 after buying an additional 273,177 shares during the period. State Street Corp boosted its stake in shares of WebMD Health Corp. by 91.4% in the second quarter. State Street Corp now owns 1,212,145 shares of the company’s stock valued at $70,437,000 after buying an additional 578,920 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of WebMD Health Corp. by 21.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,132,295 shares of the company’s stock valued at $65,798,000 after buying an additional 196,555 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of WebMD Health Corp. by 2.7% in the second quarter. Eagle Asset Management Inc. now owns 920,023 shares of the company’s stock valued at $53,462,000 after buying an additional 24,490 shares during the period. Finally, Janus Capital Management LLC boosted its stake in shares of WebMD Health Corp. by 1.6% in the second quarter. Janus Capital Management LLC now owns 862,877 shares of the company’s stock valued at $50,142,000 after buying an additional 13,614 shares during the period. 84.83% of the stock is currently owned by institutional investors and hedge funds.
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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