Zacks Investment Research Upgrades WebMD Health Corp (WBMD) to “Buy”

Zacks Investment Research upgraded shares of WebMD Health Corp (NASDAQ:WBMD) from a hold rating to a buy rating in a research note issued to investors on Friday morning. The brokerage currently has $74.00 target price on the health services provider’s stock.

According to Zacks, “WebMD announced today that is has signed an agreement to acquire Conceptis Technologies Inc., a Montreal-based provider of online and offline medical education and promotion aimed at physicians and other healthcare professionals. Conceptis has been successful in developing a strong online presence in the cardiology community and is highly respected for the depth and breadth of content contained on its flagship. With the combination of two of the leading cardiology channels on the Internet, Medscape Cardiology and www.theheart.org, WebMD is well positioned to further its lead and penetration in this high value segment of medical marketing. “

A number of other brokerages have also recently issued reports on WBMD. BidaskClub cut shares of WebMD Health Corp from a sell rating to a strong sell rating in a report on Thursday, August 24th. KeyCorp cut shares of WebMD Health Corp to an overweight rating in a report on Wednesday, August 2nd. Citigroup Inc. cut shares of WebMD Health Corp from a buy rating to a neutral rating and lifted their price objective for the company from $62.00 to $66.50 in a report on Wednesday, July 26th. Raymond James Financial, Inc. cut shares of WebMD Health Corp from an outperform rating to a mkt perform rating in a report on Wednesday, July 26th. Finally, Leerink Swann cut shares of WebMD Health Corp from an outperform rating to a market perform rating and lifted their price objective for the company from $60.00 to $66.50 in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. WebMD Health Corp currently has a consensus rating of Hold and an average target price of $65.25.

WebMD Health Corp (NASDAQ:WBMD) opened at 66.48 on Friday. WebMD Health Corp has a 52 week low of $48.10 and a 52 week high of $66.57. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 34.04 and a beta of 0.79. The company has a 50-day moving average of $66.35 and a 200-day moving average of $58.11.

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A number of institutional investors have recently added to or reduced their stakes in the stock. HPM Partners LLC boosted its holdings in WebMD Health Corp by 0.3% during the second quarter. HPM Partners LLC now owns 4,454 shares of the health services provider’s stock worth $261,000 after purchasing an additional 13 shares during the last quarter. Alps Advisors Inc. boosted its holdings in WebMD Health Corp by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,096 shares of the health services provider’s stock worth $533,000 after purchasing an additional 24 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in WebMD Health Corp by 0.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,512 shares of the health services provider’s stock worth $290,000 after purchasing an additional 36 shares during the last quarter. Renaissance Group LLC boosted its holdings in WebMD Health Corp by 1.1% during the second quarter. Renaissance Group LLC now owns 6,365 shares of the health services provider’s stock worth $373,000 after purchasing an additional 68 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in WebMD Health Corp by 0.5% during the second quarter. Meeder Asset Management Inc. now owns 16,524 shares of the health services provider’s stock worth $970,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 90.99% of the company’s stock.

About WebMD Health Corp

WebMD Health Corp. is a provider of health information services. The Company provides its services to consumers, physicians and other healthcare professionals through its Websites, mobile applications and health-focused publications. Advertisers and sponsors use The WebMD Health Network to reach and engage healthcare professionals and consumers who are interested in healthy living, wellness, diseases and conditions, and other health-related topics.

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