WebMD Health Corp (NASDAQ:WBMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, July 18th. The brokerage currently has a $62.00 price objective on the health services provider’s stock. Zacks Investment Research‘s price objective indicates a potential downside of 6.46% from the company’s current price.
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. “
Several other equities research analysts also recently weighed in on WBMD. William Blair reaffirmed a “hold” rating on shares of WebMD Health Corp in a report on Friday, March 31st. BidaskClub raised shares of 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, six have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $64.67.
WebMD Health Corp (NASDAQ:WBMD) traded up 0.06% on Tuesday, reaching $66.28. 912,591 shares of the company were exchanged. WebMD Health Corp has a 52 week low of $48.10 and a 52 week high of $66.45. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 33.94 and a beta of 0.78. The stock has a 50-day moving average price of $61.22 and a 200 day moving average price of $55.41.
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A number of hedge funds have recently bought and sold shares of the company. Meadow Creek Investment Management LLC increased its stake in 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 valued at $102,000 after buying an additional 176 shares during the last quarter. Envestnet Asset Management Inc. increased 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 position in shares of 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 in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of WebMD Health Corp during the first quarter worth $148,000. Finally, Elkfork Partners LLC increased its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 92.14% 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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