WebMD Health Corp (WBMD) Upgraded at Zacks Investment Research
WebMD Health Corp (NASDAQ:WBMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $62.00 price objective on the health services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.87% from the stock’s previous close.
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. “
A number of other research firms have also weighed in on WBMD. William Blair reissued a “hold” rating on shares of WebMD Health Corp in a report on Friday, March 31st. BidaskClub raised WebMD Health Corp from a “strong sell” rating to a “sell” rating in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.67.
Shares of WebMD Health Corp (NASDAQ WBMD) opened at 55.845 on Tuesday. WebMD Health Corp has a 52-week low of $48.10 and a 52-week high of $65.00. The stock has a 50 day moving average price of $57.35 and a 200 day moving average price of $53.15. The company has a market capitalization of $2.03 billion, a PE ratio of 29.131 and a beta of 0.74.
WebMD Health Corp (NASDAQ:WBMD) last posted its earnings results on Tuesday, May 2nd. The health services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $154.06 million for the quarter, compared to analyst estimates of $152.53 million. WebMD Health Corp had a return on equity of 27.77% and a net margin of 12.55%. On average, analysts predict that WebMD Health Corp will post $2.04 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of WBMD. Meadow Creek Investment Management LLC raised its position in shares of WebMD Health Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,936 shares of the health services provider’s stock worth $102,000 after buying an additional 176 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of WebMD Health Corp by 4.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,410 shares of the health services provider’s stock worth $119,000 after buying an additional 93 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in WebMD Health Corp by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 2,464 shares of the health services provider’s stock worth $130,000 after buying an additional 224 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in WebMD Health Corp during the first quarter worth $148,000. Finally, Elkfork Partners LLC increased its stake in WebMD Health Corp by 10.0% in the first quarter. Elkfork Partners LLC now owns 2,992 shares of the health services provider’s stock worth $158,000 after buying an additional 272 shares during the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.
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 through its Websites, mobile applications and health-focused publications. Advertisers and sponsors use The WebMD Health Network to reach and engage healthcare professionals and consumers who are interested in healthy living, wellness, diseases and conditions, and other health-related topics.
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