Citigroup downgraded shares of 1Life Healthcare (NASDAQ:ONEM – Get Rating) from a buy rating to a neutral rating in a research note released on Friday morning, The Fly reports. Citigroup currently has $18.00 target price on the stock, up from their prior target price of $14.00.
Several other brokerages have also recently weighed in on ONEM. Piper Sandler cut 1Life Healthcare from an overweight rating to a neutral rating in a report on Thursday. Stifel Nicolaus assumed coverage on 1Life Healthcare in a report on Thursday, May 26th. They issued a buy rating and a $12.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on 1Life Healthcare from $12.00 to $18.00 in a report on Friday. Guggenheim assumed coverage on 1Life Healthcare in a report on Tuesday, March 29th. They issued a neutral rating for the company. Finally, Barclays cut 1Life Healthcare from an overweight rating to an equal weight rating and lifted their price objective for the company from $15.00 to $18.00 in a report on Thursday. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $19.73.
1Life Healthcare Stock Performance
Shares of NASDAQ ONEM opened at $17.15 on Friday. The company has a current ratio of 2.64, a quick ratio of 2.61 and a debt-to-equity ratio of 0.19. 1Life Healthcare has a 12 month low of $5.94 and a 12 month high of $30.18. The stock has a 50 day moving average of $9.10 and a 200-day moving average of $9.80. The company has a market capitalization of $3.33 billion, a P/E ratio of -9.63 and a beta of 1.74.
1Life Healthcare (NASDAQ:ONEM – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.02. The business had revenue of $254.10 million during the quarter, compared to the consensus estimate of $246.57 million. 1Life Healthcare had a negative return on equity of 21.62% and a negative net margin of 40.50%. The firm’s quarterly revenue was up 109.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.29) EPS. As a group, equities research analysts predict that 1Life Healthcare will post -1.88 EPS for the current year.
Institutional Investors Weigh In On 1Life Healthcare
A number of institutional investors have recently made changes to their positions in ONEM. William Marsh Rice University purchased a new stake in shares of 1Life Healthcare in the first quarter worth approximately $8,189,000. Teacher Retirement System of Texas grew its holdings in 1Life Healthcare by 18.7% during the fourth quarter. Teacher Retirement System of Texas now owns 15,703 shares of the company’s stock valued at $276,000 after purchasing an additional 2,472 shares during the period. Nikko Asset Management Americas Inc. grew its holdings in 1Life Healthcare by 12.1% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 774,516 shares of the company’s stock valued at $12,415,000 after purchasing an additional 83,760 shares during the period. Sheares Healthcare Group Pte. Ltd. grew its holdings in 1Life Healthcare by 0.3% during the first quarter. Sheares Healthcare Group Pte. Ltd. now owns 8,321,731 shares of the company’s stock valued at $92,205,000 after purchasing an additional 21,252 shares during the period. Finally, WCM Investment Management LLC grew its holdings in 1Life Healthcare by 5.6% during the fourth quarter. WCM Investment Management LLC now owns 393,412 shares of the company’s stock valued at $6,912,000 after purchasing an additional 20,778 shares during the period. Institutional investors own 85.50% of the company’s stock.
About 1Life Healthcare
1Life Healthcare, Inc operates a membership-based primary care platform under the One Medical brand. The company has developed a healthcare membership model based on direct consumer enrollment, as well as third-party sponsorship. Its membership model includes seamless access to 24/7 digital health services paired with inviting in-office care routinely covered under health insurance programs.
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