MultiPlan (NYSE:MPLN) Price Target Raised to $6.50

MultiPlan (NYSE:MPLN – Get Rating) had its target price hoisted by equities research analysts at Citigroup from $6.00 to $6.50 in a research note issued on Wednesday, The Fly reports. Citigroup’s price objective indicates a potential upside of 41.00% from the stock’s current price.

NYSE:MPLN opened at $4.61 on Wednesday. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 28.81 and a beta of 0.36. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.25 and a current ratio of 2.25. MultiPlan has a fifty-two week low of $3.25 and a fifty-two week high of $9.69. The company’s 50-day moving average price is $4.45.

MultiPlan (NYSE:MPLN – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. MultiPlan had a net margin of 9.13% and a return on equity of 5.72%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aaron Wealth Advisors LLC purchased a new stake in shares of MultiPlan during the 1st quarter valued at about $709,000. Swiss National Bank boosted its holdings in shares of MultiPlan by 2.3% during the 1st quarter. Swiss National Bank now owns 301,800 shares of the company’s stock valued at $1,412,000 after acquiring an additional 6,900 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of MultiPlan during the 1st quarter valued at about $37,749,000. Resources Investment Advisors LLC. purchased a new stake in shares of MultiPlan during the 1st quarter valued at about $84,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of MultiPlan by 1.5% during the 1st quarter. New York State Common Retirement Fund now owns 251,021 shares of the company’s stock valued at $1,175,000 after acquiring an additional 3,773 shares during the last quarter. 90.87% of the stock is currently owned by hedge funds and other institutional investors.

About MultiPlan (Get Rating)

MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services, which reduce medical costs through data-driven algorithms that detect claims over-charges and recommend or negotiate reimbursement; network-based services that reduce medical costs through contracted discounts with healthcare providers; and payment and revenue integrity services, which reduce medical costs by identifying and removing improper and unnecessary charges paid during the claim.

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