Healthways Inc. (HWAY) Rating Increased to Buy at Zacks Investment Research
Healthways Inc. (NASDAQ:HWAY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $29.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 13.37% from the stock’s previous close.
According to Zacks, “We believe that Healthways has a substantial pipeline of potential contracts with new and existing customers in both domestic and international markets, which should drive growth. The recently completed organizational restructure is expected to generate cost savings from full-year 2017, which will boost profitability. Meanwhile, estimates have been going up after posting stable second-quarterly results. We note that the company has positive record of earnings surprises in recent quarters. Thus we feel the Healthways stock offers investors a pocket of opportunity to benefit from Zacks wisdom.”
A number of other research firms have also weighed in on HWAY. Barclays PLC raised shares of Healthways from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $12.00 to $27.00 in a research note on Monday, August 22nd. Jefferies Group set a $26.00 target price on shares of Healthways and gave the stock a “hold” rating in a research note on Thursday, August 18th. FBR & Co raised their target price on shares of Healthways from $16.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 10th. Piper Jaffray Cos. raised their target price on shares of Healthways from $15.00 to $25.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 10th. Finally, Oppenheimer Holdings Inc. raised shares of Healthways to an “outperform” rating and set a $27.00 target price on the stock in a research note on Sunday, August 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Healthways currently has a consensus rating of “Buy” and an average price target of $24.21.
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Healthways (NASDAQ:HWAY) traded down 2.93% during midday trading on Wednesday, reaching $24.83. 200,368 shares of the company’s stock traded hands. The firm’s 50-day moving average is $23.38 and its 200-day moving average is $14.64. The company’s market capitalization is $912.20 million. Healthways has a 1-year low of $9.18 and a 1-year high of $27.30.
Healthways (NASDAQ:HWAY) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.53. The firm had revenue of $125 million for the quarter, compared to analyst estimates of $186.88 million. Healthways had a negative net margin of 31.32% and a positive return on equity of 8.83%. Healthways’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.11 EPS. Analysts forecast that Healthways will post $2.11 earnings per share for the current year.
In related news, Director Mary Jane England sold 3,816 shares of Healthways stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $24.78, for a total value of $94,560.48. Following the completion of the sale, the director now owns 39,068 shares in the company, valued at approximately $968,105.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.01% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its stake in Healthways by 3.6% in the first quarter. Prudential Financial Inc. now owns 73,984 shares of the company’s stock valued at $746,000 after buying an additional 2,600 shares during the period. BlackRock Fund Advisors increased its stake in Healthways by 1.7% in the first quarter. BlackRock Fund Advisors now owns 2,251,011 shares of the company’s stock valued at $22,713,000 after buying an additional 37,357 shares during the period. Royce & Associates LP increased its stake in Healthways by 13.4% in the first quarter. Royce & Associates LP now owns 903,204 shares of the company’s stock valued at $9,113,000 after buying an additional 106,500 shares during the period. State Street Corp increased its stake in Healthways by 5.2% in the first quarter. State Street Corp now owns 817,665 shares of the company’s stock valued at $8,246,000 after buying an additional 40,638 shares during the period. Finally, Geode Capital Management LLC increased its stake in Healthways by 2.2% in the first quarter. Geode Capital Management LLC now owns 237,795 shares of the company’s stock valued at $2,399,000 after buying an additional 5,130 shares during the period. Hedge funds and other institutional investors own 92.52% of the company’s stock.
Healthways, Inc (Healthways) provides network delivered solutions and population health management services that are designed to help people manage their wellbeing, thereby managing their health and productivity, and their health-related costs. The Company operates in the domestic and international segments, which are collectively known as the well-being improvement services segment.
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