eHealth, Inc. (EHTH) Sees Significant Decrease in Short Interest
eHealth, Inc. (NASDAQ:EHTH) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totalling 602,362 shares, a drop of 24.6% from the July 14th total of 798,957 shares. Based on an average trading volume of 177,092 shares, the days-to-cover ratio is currently 3.4 days. Currently, 3.5% of the shares of the stock are short sold.
In other eHealth news, Director Jack L. Oliver III sold 14,745 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $16.79, for a total transaction of $247,568.55. Following the sale, the director now directly owns 51,375 shares of the company’s stock, valued at approximately $862,586.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.22% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of eHealth by 92.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,611 shares of the financial services provider’s stock worth $143,000 after buying an additional 3,650 shares in the last quarter. Thrivent Financial For Lutherans acquired a new position in shares of eHealth during the second quarter worth $190,000. Hancock Holding Co. acquired a new position in shares of eHealth during the second quarter worth $198,000. Texas Permanent School Fund increased its position in shares of eHealth by 1.3% in the second quarter. Texas Permanent School Fund now owns 12,245 shares of the financial services provider’s stock worth $230,000 after buying an additional 160 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of eHealth by 11.1% in the first quarter. OppenheimerFunds Inc. now owns 12,891 shares of the financial services provider’s stock worth $156,000 after buying an additional 1,289 shares in the last quarter. Institutional investors own 93.56% of the company’s stock.
Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $20.00 price target on shares of eHealth in a research note on Thursday, July 27th. Jefferies Group LLC raised their price target on shares of eHealth from $15.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, May 11th. Zacks Investment Research cut shares of eHealth from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub raised shares of eHealth from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, TheStreet cut shares of eHealth from a “c” rating to a “d+” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.25.
Shares of eHealth (NASDAQ:EHTH) opened at 17.53 on Monday. The firm’s market capitalization is $324.92 million. The firm’s 50 day moving average is $18.22 and its 200 day moving average is $14.88. eHealth has a 1-year low of $6.38 and a 1-year high of $19.53.
eHealth (NASDAQ:EHTH) last issued its earnings results on Thursday, July 27th. The financial services provider reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.17. The business had revenue of $28 million during the quarter, compared to analyst estimates of $29.25 million. eHealth had a negative net margin of 3.44% and a negative return on equity of 5.64%. eHealth’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. Analysts anticipate that eHealth will post ($0.94) EPS for the current fiscal year.
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eHealth Company Profile
eHealth, Inc provides a private online source of health insurance for individuals, families and small businesses. The Company is the parent company of eHealthInsurance, a private health insurance exchange where individuals, families and small businesses can compare health insurance products from various insurers side-by-side, and purchase and enroll in coverage online through its Websites (www.eHealth.com, www.eHealthInsurance.com, www.eHealthMedicare.com, www.Medicare.com and www.PlanPrescriber.com) or telephonically through its customer care centers.
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