WebMD Health Corp (WBMD) Rating Increased to Buy 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 report issued on Thursday. The firm presently has a $74.00 target price on the health services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.38% 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 analysts have also recently issued reports on the stock. BidaskClub upgraded shares of WebMD Health Corp from a “strong sell” rating to a “sell” rating in a research note on Friday, June 23rd. SunTrust Banks, Inc. cut shares of WebMD Health Corp from a “buy” rating to a “hold” rating and raised their target price for the stock from $60.00 to $66.50 in a research note on Tuesday, July 25th. Leerink Swann cut shares of WebMD Health Corp from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $60.00 to $66.50 in a research note on Tuesday, July 25th. Raymond James Financial, Inc. reiterated a “market perform” rating and issued a $66.50 price objective on shares of WebMD Health Corp in a research note on Tuesday, July 25th. Finally, Citigroup Inc. cut shares of WebMD Health Corp from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $62.00 to $66.50 in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. WebMD Health Corp presently has an average rating of “Hold” and an average target price of $65.25.
WebMD Health Corp (WBMD) traded down 0.02% during mid-day trading on Thursday, reaching $66.43. 147,036 shares of the company were exchanged. WebMD Health Corp has a 12-month low of $48.10 and a 12-month high of $66.57. The company’s 50 day moving average price is $65.36 and its 200-day moving average price is $57.46. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 34.01 and a beta of 0.79.
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Institutional investors have recently added to or reduced their stakes in the stock. Blue Harbour Group L.P. grew its stake in shares of WebMD Health Corp by 87.2% in the 1st quarter. Blue Harbour Group L.P. now owns 3,361,336 shares of the health services provider’s stock worth $177,075,000 after acquiring an additional 1,565,422 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of WebMD Health Corp in the 2nd quarter worth $60,851,000. Koch Industries Inc. grew its stake in shares of WebMD Health Corp by 11,780.9% in the 2nd quarter. Koch Industries Inc. now owns 866,475 shares of the health services provider’s stock worth $852,000 after acquiring an additional 859,182 shares in the last quarter. Farallon Capital Management LLC bought a new stake in shares of WebMD Health Corp in the 2nd quarter worth $39,831,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of WebMD Health Corp in the 1st quarter worth $34,201,000. Institutional investors own 91.10% 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 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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