Convey Health Solutions (NYSE:CNVY) Releases Earnings Results, Misses Estimates By $0.07 EPS

Convey Health Solutions (NYSE:CNVY – Get Rating) released its quarterly earnings data on Tuesday. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07), MarketWatch Earnings reports. Convey Health Solutions had a negative net margin of 2.90% and a positive return on equity of 0.64%.

Shares of CNVY stock traded up $0.21 during trading hours on Friday, hitting $5.61. 1,708 shares of the company’s stock were exchanged, compared to its average volume of 58,560. Convey Health Solutions has a 12-month low of $4.85 and a 12-month high of $14.29. The business’s 50 day simple moving average is $5.89 and its 200-day simple moving average is $6.65. The company has a current ratio of 1.88, a quick ratio of 1.68 and a debt-to-equity ratio of 0.35.

Several hedge funds have recently bought and sold shares of CNVY. Citigroup Inc. raised its stake in shares of Convey Health Solutions by 123.7% during the fourth quarter. Citigroup Inc. now owns 3,434 shares of the company’s stock worth $29,000 after acquiring an additional 1,899 shares in the last quarter. California State Teachers Retirement System bought a new position in shares of Convey Health Solutions in the third quarter worth approximately $61,000. American International Group Inc. bought a new position in shares of Convey Health Solutions in the third quarter worth approximately $62,000. Wells Fargo & Company MN grew its holdings in shares of Convey Health Solutions by 361.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,704 shares of the company’s stock worth $64,000 after purchasing an additional 6,035 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Convey Health Solutions in the first quarter worth approximately $69,000. 90.73% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on CNVY. Barclays cut their price objective on shares of Convey Health Solutions from $16.00 to $12.00 in a research report on Monday, February 7th. Canaccord Genuity Group lowered their target price on shares of Convey Health Solutions from $14.00 to $11.00 in a research note on Wednesday. Guggenheim started coverage on shares of Convey Health Solutions in a research note on Wednesday, April 6th. They issued a “buy” rating and a $12.00 target price on the stock. Zacks Investment Research downgraded shares of Convey Health Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, April 6th. Finally, Canaccord Genuity Group lowered their target price on shares of Convey Health Solutions from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, March 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Convey Health Solutions has an average rating of “Buy” and an average price target of $12.75.

Convey Health Solutions Company Profile (Get Rating)

Convey Health Solutions Holdings, Inc provides technology enabled solutions and advisory services to assist its clients with workflows across product developments, sales, member experience, clinical management, core operations, and business intelligence and analytics. It operates through two segments, Technology Enabled Solutions and Advisory Services.

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