Zacks Investment Research Upgrades NantHealth (NASDAQ:NH) to Hold

NantHealth (NASDAQ:NHGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Nant Health, LLC is a personalized healthcare company which enable improved patient outcomes and treatment decisions for critical illnesses. The company developed an adaptive learning system, CLINICS, which includes its unique software, middleware and hardware systems infrastructure that collects, indexes, analyzes and interprets of molecular, clinical, operational and financial data points derived from novel and traditional sources. Nant Health, LLC is based in CULVER CITY, United States. “

A number of other research firms have also recently issued reports on NH. StockNews.com initiated coverage on shares of NantHealth in a research note on Wednesday, April 27th. They issued a “hold” rating on the stock. The Goldman Sachs Group raised shares of NantHealth from a “neutral” rating to a “buy” rating in a research note on Friday, January 7th.

NantHealth stock opened at $0.78 on Wednesday. The company’s fifty day moving average price is $0.78 and its 200 day moving average price is $1.02. NantHealth has a 1 year low of $0.68 and a 1 year high of $2.87. The stock has a market capitalization of $89.79 million, a P/E ratio of -1.55 and a beta of 1.67.

NantHealth (NASDAQ:NHGet Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $16.03 million for the quarter, compared to analysts’ expectations of $16.00 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. On average, sell-side analysts predict that NantHealth will post -0.39 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in NH. B. Riley Wealth Management Inc. acquired a new stake in NantHealth during the 3rd quarter worth $367,000. Allspring Global Investments Holdings LLC acquired a new position in shares of NantHealth during the 4th quarter valued at about $181,000. Wells Fargo & Company MN boosted its position in shares of NantHealth by 676.0% during the 4th quarter. Wells Fargo & Company MN now owns 160,307 shares of the company’s stock valued at $169,000 after acquiring an additional 139,650 shares during the last quarter. Morgan Stanley boosted its position in shares of NantHealth by 1,023.8% during the 2nd quarter. Morgan Stanley now owns 103,391 shares of the company’s stock valued at $240,000 after acquiring an additional 94,191 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of NantHealth by 485.5% during the 3rd quarter. Millennium Management LLC now owns 111,536 shares of the company’s stock valued at $180,000 after acquiring an additional 92,486 shares during the last quarter. 5.26% of the stock is currently owned by institutional investors.

NantHealth Company Profile (Get Rating)

NantHealth, Inc, together with its subsidiaries, operates as a healthcare IT company in the United States, Canada, and the United Kingdom. It offers Eviti, a software-as-a-service (SaaS) based clinical decision support solution that centralizes clinical content and treatment cost data from Medicare reimbursements and treatment toxicity data; Eviti Connect, which utilizes the platform to offer pre-authorization automation that helps payers and providers navigate the complexities of cancer care; and Eviti Advisor product that allows physicians to access the Eviti platform's comprehensive library of evidence-based treatment standards and protocols to inform treatment decisions.

Further Reading

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