Royal Bank Of Canada Cuts eHealth (NASDAQ:EHTH) Price Target to $3.00

eHealth (NASDAQ:EHTH) had its price target cut by Royal Bank Of Canada from $9.00 to $3.00 in a research note published on Wednesday,Benzinga reports. They currently have a sector perform rating on the financial services provider’s stock.

A number of other research firms have also weighed in on EHTH. Craig Hallum lowered shares of eHealth from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a report on Thursday, February 26th. Zacks Research lowered shares of eHealth from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of eHealth in a report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, eHealth presently has an average rating of “Reduce” and a consensus target price of $3.33.

eHealth Stock Performance

Shares of EHTH opened at $1.56 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $48.47 million, a price-to-earnings ratio of -2.20 and a beta of 1.27. eHealth has a 52-week low of $1.20 and a 52-week high of $8.13. The stock’s 50-day simple moving average is $2.51 and its 200 day simple moving average is $3.67.

eHealth (NASDAQ:EHTH) last announced its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($0.32). eHealth had a net margin of 6.12% and a return on equity of 5.46%. The company had revenue of $326.24 million for the quarter, compared to the consensus estimate of $318.25 million. Research analysts forecast that eHealth will post -2.17 EPS for the current fiscal year.

Insider Transactions at eHealth

In related news, CFO John Joseph Dolan bought 25,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $1.53 per share, for a total transaction of $38,250.00. Following the completion of the transaction, the chief financial officer directly owned 208,755 shares in the company, valued at $319,395.15. This trade represents a 13.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.20% of the stock is currently owned by insiders.

Institutional Trading of eHealth

Several institutional investors and hedge funds have recently made changes to their positions in EHTH. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of eHealth during the 2nd quarter valued at $29,000. The Manufacturers Life Insurance Company purchased a new position in eHealth in the second quarter worth $48,000. Bank of America Corp DE grew its position in eHealth by 1,265.8% in the second quarter. Bank of America Corp DE now owns 11,186 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 10,367 shares in the last quarter. Alliancebernstein L.P. bought a new position in eHealth in the third quarter valued at $54,000. Finally, Intech Investment Management LLC purchased a new stake in eHealth during the second quarter valued at about $55,000. Hedge funds and other institutional investors own 79.54% of the company’s stock.

About eHealth

eHealth, Inc operates one of the largest online private health insurance exchanges in the United States. The company’s platform enables consumers to compare, select and enroll in individual, family and small-group health insurance plans offered by a broad network of licensed insurance carriers. In addition to Affordable Care Act–compliant offerings, eHealth provides dedicated services for Medicare Advantage, Medicare Supplement and Medicare Part D prescription drug plans, helping seniors navigate the complexities of Medicare coverage.

Through its digital marketplace, eHealth delivers real-time quotes, detailed plan comparisons and enrollment processing.