WebMD Health Corp. (WBMD) Downgraded to “Market Perform” at Cowen and Company
Cowen and Company downgraded shares of WebMD Health Corp. (NASDAQ:WBMD) from an outperform rating to a market perform rating in a report released on Wednesday morning. They currently have $55.00 price objective on the stock.
Several other brokerages have also recently weighed in on WBMD. Raymond James Financial, Inc. cut WebMD Health Corp. from a strong-buy rating to an outperform rating and set a $60.00 price target on the stock. in a research report on Monday, December 12th. Pacific Crest reiterated a buy rating and set a $72.00 price target on shares of WebMD Health Corp. in a research report on Sunday, December 4th. Zacks Investment Research upgraded WebMD Health Corp. from a sell rating to a hold rating in a research report on Thursday, February 23rd. Mizuho upped their price target on WebMD Health Corp. from $52.00 to $55.00 and gave the company a neutral rating in a research report on Friday, February 17th. Finally, Citigroup Inc upgraded WebMD Health Corp. from a neutral rating to a buy rating and set a $65.00 price target on the stock in a research report on Monday, January 30th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $65.79.
Shares of WebMD Health Corp. (NASDAQ:WBMD) opened at 51.25 on Wednesday. The firm has a market capitalization of $1.84 billion, a PE ratio of 26.07 and a beta of 0.54. The stock has a 50 day moving average price of $51.35 and a 200-day moving average price of $51.35. WebMD Health Corp. has a 52 week low of $48.10 and a 52 week high of $67.55.
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WebMD Health Corp. (NASDAQ:WBMD) last released its quarterly earnings data on Thursday, February 16th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. The business had revenue of $207.47 million for the quarter, compared to the consensus estimate of $206.99 million. WebMD Health Corp. had a net margin of 11.97% and a return on equity of 35.64%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities analysts anticipate that WebMD Health Corp. will post $2.01 earnings per share for the current year.
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In related news, Chairman Martin J. Wygod sold 14,321 shares of the company’s stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $55.00, for a total value of $787,655.00. Following the transaction, the chairman now directly owns 134,637 shares in the company, valued at $7,405,035. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. boosted its position in WebMD Health Corp. by 0.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 7,557 shares of the company’s stock valued at $376,000 after buying an additional 25 shares during the period. Advisory Services Network LLC bought a new position in WebMD Health Corp. during the third quarter valued at $201,000. Oregon Public Employees Retirement Fund boosted its position in WebMD Health Corp. by 5.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 13,322 shares of the company’s stock valued at $662,000 after buying an additional 638 shares during the period. Eagle Asset Management Inc. boosted its position in WebMD Health Corp. by 9.4% in the third quarter. Eagle Asset Management Inc. now owns 1,006,883 shares of the company’s stock valued at $50,042,000 after buying an additional 86,860 shares during the period. Finally, Pembroke Management LTD boosted its position in WebMD Health Corp. by 13.6% in the third quarter. Pembroke Management LTD now owns 421,800 shares of the company’s stock valued at $20,963,000 after buying an additional 50,600 shares during the period. Institutional investors own 86.66% 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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