Shares of Cue Health Inc. (NASDAQ:HLTH – Get Rating) gapped down before the market opened on Friday after The Goldman Sachs Group lowered their price target on the stock from $7.00 to $6.00. The stock had previously closed at $3.50, but opened at $3.40. The Goldman Sachs Group currently has a buy rating on the stock. Cue Health shares last traded at $3.42, with a volume of 118 shares traded.
HLTH has been the subject of several other reports. Cowen reduced their price target on Cue Health to $9.00 in a research report on Monday, August 15th. BTIG Research reduced their price target on Cue Health to $9.00 in a research report on Monday, August 15th. Finally, Morgan Stanley reduced their price target on Cue Health from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 11th.
Insider Buying and Selling at Cue Health
In other Cue Health news, insider Clint Sever sold 26,664 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $4.32, for a total value of $115,188.48. Following the sale, the insider now owns 3,986,188 shares in the company, valued at $17,220,332.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 171,825 shares of company stock worth $595,823 over the last 90 days. Company insiders own 29.40% of the company’s stock.
Institutional Trading of Cue Health
Several institutional investors and hedge funds have recently bought and sold shares of HLTH. Allworth Financial LP increased its stake in shares of Cue Health by 72.7% during the third quarter. Allworth Financial LP now owns 95,000 shares of the company’s stock worth $286,000 after purchasing an additional 40,000 shares during the period. Legal & General Group Plc increased its stake in shares of Cue Health by 813.8% during the second quarter. Legal & General Group Plc now owns 12,355 shares of the company’s stock worth $39,000 after purchasing an additional 11,003 shares during the period. Walleye Capital LLC bought a new position in shares of Cue Health during the second quarter worth approximately $64,000. Goldman Sachs Group Inc. increased its stake in shares of Cue Health by 2.4% during the second quarter. Goldman Sachs Group Inc. now owns 864,095 shares of the company’s stock worth $2,765,000 after purchasing an additional 20,562 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Cue Health during the second quarter worth approximately $259,000. Institutional investors own 37.87% of the company’s stock.
Cue Health Stock Down 5.4 %
The company has a market cap of $490.38 million and a P/E ratio of -10.97. The stock has a 50 day moving average price of $3.50 and a two-hundred day moving average price of $4.35.
Cue Health (NASDAQ:HLTH – Get Rating) last issued its quarterly earnings results on Wednesday, August 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.13. The business had revenue of $87.70 million for the quarter, compared to the consensus estimate of $52.54 million. Cue Health had a positive return on equity of 5.50% and a negative net margin of 6.24%. Equities analysts anticipate that Cue Health Inc. will post -0.9 EPS for the current year.
About Cue Health
Cue Health Inc, a healthcare technology company, designs and develops diagnostic platform for diagnostic tests for individuals, enterprises, healthcare providers and payors, and public health agencies. The company offers Cue Integrated Care platform comprising hardware and software components, such as Cue Health Monitoring System consisting of Cue Reader, a portable and reusable reader, Cue Cartridge, a single-use test cartridge, and Cue Wand, a sample collection wand; Cue Data and Innovation Layer, a solution with cloud-based data and analytics capability; Cue Virtual Care Delivery Apps, which include Cue Health App and Cue Enterprise Dashboard; and Cue Ecosystem Integrations and Apps, a solution that allows integrations with third-party applications and sensors.