Signify Health, Inc. (NYSE:SGFY – Get Rating) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 8,350,000 shares, a growth of 36.0% from the May 31st total of 6,140,000 shares. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is presently 5.4 days. Currently, 11.9% of the shares of the company are short sold.
SGFY stock opened at $14.86 on Friday. The company has a market capitalization of $3.47 billion, a P/E ratio of 78.21, a PEG ratio of 2.62 and a beta of 1.55. The company has a 50-day simple moving average of $13.31 and a 200 day simple moving average of $14.21. Signify Health has a fifty-two week low of $10.70 and a fifty-two week high of $30.89. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.22.
Signify Health (NYSE:SGFY – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The business had revenue of $216.50 million for the quarter, compared to analysts’ expectations of $213.21 million. Signify Health had a return on equity of 3.22% and a net margin of 3.95%. The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. Equities analysts anticipate that Signify Health will post 0.13 EPS for the current year.
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In other Signify Health news, CEO Bradford Kyle Armbrester purchased 8,320 shares of Signify Health stock in a transaction dated Monday, May 9th. The stock was acquired at an average cost of $11.77 per share, with a total value of $97,926.40. Following the acquisition, the chief executive officer now directly owns 92,693 shares of the company’s stock, valued at $1,090,996.61. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steve Senneff purchased 2,500 shares of the firm’s stock in a transaction dated Monday, May 9th. The shares were purchased at an average cost of $11.75 per share, for a total transaction of $29,375.00. Following the purchase, the insider now directly owns 217,587 shares in the company, valued at $2,556,647.25. The disclosure for this purchase can be found here. Insiders have bought 20,820 shares of company stock valued at $252,801 in the last 90 days. Company insiders own 8.02% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC purchased a new stake in Signify Health in the 3rd quarter worth approximately $179,000. Morgan Stanley lifted its stake in Signify Health by 19.4% in the third quarter. Morgan Stanley now owns 1,021,240 shares of the company’s stock valued at $18,249,000 after acquiring an additional 166,217 shares during the last quarter. California State Teachers Retirement System lifted its stake in Signify Health by 110.7% in the third quarter. California State Teachers Retirement System now owns 81,800 shares of the company’s stock valued at $1,462,000 after acquiring an additional 42,977 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Signify Health in the third quarter valued at approximately $1,281,000. Finally, Balyasny Asset Management LLC acquired a new stake in Signify Health in the third quarter valued at approximately $552,000.
Several equities analysts recently commented on the company. Robert W. Baird upgraded Signify Health from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $19.00 to $16.00 in a research note on Monday, May 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Signify Health from $29.00 to $26.00 in a report on Friday, May 6th. Guggenheim began coverage on shares of Signify Health in a research note on Tuesday, March 29th. They issued a “buy” rating and a $36.00 target price for the company. The Goldman Sachs Group upped their target price on shares of Signify Health from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, March 21st. Finally, UBS Group upgraded shares of Signify Health from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $21.00 in a research note on Wednesday, March 9th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.33.
Signify Health Company Profile (Get Rating)
Signify Health, Inc operates a healthcare platform that utilizes analytics, technology, and healthcare provider networks in the United States. The company operates through Home & Community Services and Episodes of Care Services segments. The Home & Community Services segment offers health evaluations performed within the patient’s home or at a healthcare provider facility primarily to Medicare Advantage health plans; diagnostic screening and other ancillary services; and services to address healthcare concerns related to social determinants of health.
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