BTIG Research Downgrades Babylon (NYSE:BBLN) to Neutral

Babylon (NYSE:BBLN – Get Rating) was downgraded by stock analysts at BTIG Research from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports.

Separately, Citigroup reduced their price target on Babylon from $15.00 to $11.00 in a research report on Friday, March 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.08.

Babylon Price Performance

NYSE:BBLN opened at $5.89 on Thursday. The company has a market capitalization of $12.63 million, a P/E ratio of -0.22 and a beta of 2.57. Babylon has a 1 year low of $5.75 and a 1 year high of $120.75. The business has a fifty day simple moving average of $10.13 and a two-hundred day simple moving average of $11.64.

Hedge Funds Weigh In On Babylon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBLN. Renaissance Technologies LLC purchased a new position in Babylon during the first quarter worth about $162,000. Goldman Sachs Group Inc. grew its position in Babylon by 300.2% during the first quarter. Goldman Sachs Group Inc. now owns 45,500 shares of the company’s stock worth $177,000 after buying an additional 34,130 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Babylon by 886.5% during the second quarter. JPMorgan Chase & Co. now owns 58,221 shares of the company’s stock worth $57,000 after purchasing an additional 52,319 shares during the last quarter. Rhumbline Advisers bought a new stake in Babylon during the second quarter worth about $115,000. Finally, Northern Trust Corp bought a new stake in Babylon during the second quarter worth about $707,000.

Babylon Company Profile

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Babylon Holdings Limited operates as a digital healthcare company. It offers end-to-end care solution that facilities through its digital health suite, virtual care, in-person medical care, and post-care offerings. The company also provides Babylon Cloud services. It operates in the United Kingdom, the United States, the Asia Pacific, Canada, and internationally.