Signify Health (NYSE:SGFY) Stock Rating Lowered by Guggenheim

Signify Health (NYSE:SGFYGet Rating) was downgraded by equities research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report issued on Wednesday, The Fly reports.

A number of other research firms have also recently weighed in on SGFY. Royal Bank of Canada lifted their target price on shares of Signify Health from $20.00 to $30.50 and gave the company a “sector perform” rating in a research note on Tuesday. JPMorgan Chase & Co. cut shares of Signify Health from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $30.50 in a research report on Tuesday. Cowen upped their target price on shares of Signify Health from $14.00 to $24.00 in a research report on Monday, August 8th. William Blair downgraded shares of Signify Health from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Piper Sandler downgraded shares of Signify Health from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $34.00 to $30.50 in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.15.

Signify Health Price Performance

SGFY stock opened at $29.30 on Wednesday. Signify Health has a 52-week low of $10.70 and a 52-week high of $29.88. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of -15.34 and a beta of 0.71. The firm has a 50 day moving average price of $21.02 and a 200-day moving average price of $16.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.23 and a current ratio of 5.23.

Signify Health (NYSE:SGFYGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.13. Signify Health had a negative net margin of 40.14% and a positive return on equity of 5.82%. The business had revenue of $246.20 million during the quarter, compared to the consensus estimate of $249.57 million. Equities research analysts forecast that Signify Health will post -1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SGFY. Frontier Capital Management Co. LLC raised its holdings in shares of Signify Health by 71.4% in the second quarter. Frontier Capital Management Co. LLC now owns 2,956,188 shares of the company’s stock worth $40,795,000 after buying an additional 1,231,088 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Signify Health by 88.8% in the second quarter. Point72 Asset Management L.P. now owns 2,437,800 shares of the company’s stock worth $33,642,000 after acquiring an additional 1,146,372 shares during the period. ARK Investment Management LLC increased its stake in shares of Signify Health by 4.9% in the first quarter. ARK Investment Management LLC now owns 20,992,230 shares of the company’s stock worth $381,009,000 after acquiring an additional 981,902 shares during the period. Meristem Family Wealth LLC acquired a new stake in shares of Signify Health in the fourth quarter worth $11,742,000. Finally, Invesco Ltd. increased its stake in shares of Signify Health by 102.2% in the fourth quarter. Invesco Ltd. now owns 854,468 shares of the company’s stock worth $12,151,000 after acquiring an additional 431,974 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Signify Health Company Profile

(Get Rating)

Signify Health, Inc operates a healthcare platform that utilizes analytics, technology, and healthcare provider networks in the United States. The company operates through Home & Community Services and Episodes of Care Services segments. The Home & Community Services segment offers health evaluations performed within the patient's home or at a healthcare provider facility primarily to Medicare Advantage health plans; diagnostic screening and other ancillary services; and services to address healthcare concerns related to social determinants of health.

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