MultiPlan (NYSE:MPLN) Price Target Raised to $12.50 at Citigroup

MultiPlan (NYSE:MPLN) had its price target increased by Citigroup from $10.00 to $12.50 in a research note published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

MultiPlan Stock Performance

MPLN opened at $12.77 on Friday. The stock has a 50-day moving average price of $9.00. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73. MultiPlan has a twelve month low of $4.80 and a twelve month high of $53.60. The company has a market cap of $206.50 million, a price-to-earnings ratio of -0.13 and a beta of 0.10.

Institutional Investors Weigh In On MultiPlan

Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of MultiPlan in the 2nd quarter worth about $72,000. Millennium Management LLC grew its holdings in MultiPlan by 3,401.0% during the 2nd quarter. Millennium Management LLC now owns 8,426,081 shares of the company’s stock worth $3,273,000 after acquiring an additional 8,185,402 shares during the last quarter. AQR Capital Management LLC grew its holdings in MultiPlan by 386.2% during the 2nd quarter. AQR Capital Management LLC now owns 2,742,735 shares of the company’s stock worth $1,065,000 after acquiring an additional 2,178,590 shares during the last quarter. Hsbc Holdings PLC grew its holdings in MultiPlan by 68.7% during the 2nd quarter. Hsbc Holdings PLC now owns 218,459 shares of the company’s stock worth $87,000 after acquiring an additional 88,944 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in MultiPlan during the 2nd quarter worth about $43,000. Institutional investors own 87.15% of the company’s stock.

MultiPlan Company Profile

MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services that reduce medical costs, through data-driven algorithms and insights that detect claims over-charges and negotiate or recommend reimbursement; and network-based services that provide contracted discounts with healthcare providers, as well as outsourced network development and management services.