Health Net Rating Lowered to Market Perform at Wells Fargo & Co. (HNT)

By admin | 6 years ago

Health Net (NYSE: HNT) was downgraded by equities researchers at Wells Fargo & Co. (NYSE: WFC) from an “outperform” rating to a “market perform” rating in a report issued on Thursday.

Health Net traded up 0.70% on Thursday, hitting $27.45. Health Net has a 52-week low of $20.51 and a 52-week high of $41.22. The company has a market cap of $2.274 billion and a price-to-earnings ratio of 34.08.

The company last announced its quarterly results on Thursday, May 3rd. It reported ($0.32) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.60 EPS by $0.92. The company’s quarterly revenue was down 15.8% on a year-over-year basis. On average, analysts predict that Health Net will post $0.84 earnings per share next quarter.

A number of other analysts have also recently weighed in on HNT. Analysts at Zacks reiterated a “neutral” rating on shares of Health Net in a research note to investors on Monday, April 16th. They now have a $39.00 price target on the stock. Separately, analysts at Jefferies Group (NYSE: JEF) reiterated a “hold” rating on shares of Health Net in a research note to investors on Thursday, February 23rd. Finally, analysts at Citigroup (NYSE: C) raised their price target on shares of Health Net to $48.00 in a research note to investors on Friday, February 10th.

Health Net, Inc. (Health Net) is a managed care organization that delivers managed health care services through health plans and government-sponsored managed care plans.

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