Zacks Investment Research Upgrades Cue Health (NASDAQ:HLTH) to Hold

Zacks Investment Research upgraded shares of Cue Health (NASDAQ:HLTH – Get Rating) from a sell rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “Cue Health Inc. is a health technology company. It offers individuals, enterprises, government agencies and healthcare provides access to lab-quality diagnostic testing at home, at work or at the point-of-care, all in a device. Cue Health Inc. is headquartered in San Diego. “

Cue Health stock opened at $4.95 on Thursday. Cue Health has a 12 month low of $3.70 and a 12 month high of $22.55. The stock’s 50 day moving average is $6.60 and its 200-day moving average is $9.07.

Cue Health (NASDAQ:HLTH – Get Rating) last issued its quarterly earnings results on Tuesday, March 29th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. The company had revenue of $192.51 million during the quarter. On average, analysts anticipate that Cue Health will post -1.23 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in shares of Cue Health in the 1st quarter valued at $145,000. First Manhattan Co. lifted its stake in shares of Cue Health by 68.6% in the 1st quarter. First Manhattan Co. now owns 42,140 shares of the company’s stock valued at $271,000 after acquiring an additional 17,140 shares during the last quarter. State Street Corp lifted its stake in shares of Cue Health by 44.4% in the 1st quarter. State Street Corp now owns 221,996 shares of the company’s stock valued at $1,432,000 after acquiring an additional 68,224 shares during the last quarter. Prelude Capital Management LLC bought a new position in shares of Cue Health in the 1st quarter valued at $70,000. Finally, FFT Wealth Management LLC acquired a new stake in Cue Health in the first quarter valued at $264,000. Institutional investors own 26.42% of the company’s stock.

Cue Health Company Profile (Get Rating)

Cue Health Inc, a healthcare technology company, designs and develops diagnostic platform for diagnostic tests for individuals, enterprises, healthcare providers and payors, and public health agencies. The company offers Cue Integrated Care platform comprising hardware and software components, such as Cue Health Monitoring System consisting of Cue Reader, a portable and reusable reader, Cue Cartridge, a single-use test cartridge, and Cue Wand, a sample collection wand; Cue Data and Innovation Layer, a solution with cloud-based data and analytics capability; Cue Virtual Care Delivery Apps, which include Cue Health App and Cue Enterprise Dashboard; and Cue Ecosystem Integrations and Apps, a solution that allows integrations with third-party applications and sensors.

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