Piper Sandler Raises Signify Health (NYSE:SGFY) Price Target to $32.00

Signify Health (NYSE:SGFYGet Rating) had its target price increased by equities researchers at Piper Sandler from $27.00 to $32.00 in a research report issued on Monday, The Fly reports. Piper Sandler’s price objective would suggest a potential upside of 153.77% from the stock’s current price.

A number of other equities research analysts have also issued reports on SGFY. Robert W. Baird raised shares of Signify Health from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $19.00 to $16.00 in a report on Monday, May 16th. Guggenheim assumed coverage on shares of Signify Health in a report on Tuesday, March 29th. They issued a “buy” rating and a $36.00 price objective for the company. UBS Group raised shares of Signify Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $21.00 in a report on Wednesday, March 9th. Cowen dropped their price objective on shares of Signify Health from $27.00 to $18.00 and set a “market perform” rating for the company in a report on Wednesday, March 9th. Finally, The Goldman Sachs Group increased their target price on shares of Signify Health from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, March 21st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $25.10.

Shares of NYSE SGFY opened at $12.61 on Monday. The firm has a 50-day simple moving average of $14.73 and a 200-day simple moving average of $14.29. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 66.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.55. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.22. Signify Health has a 52 week low of $10.70 and a 52 week high of $31.91.

Signify Health (NYSE:SGFYGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). The business had revenue of $216.50 million during the quarter, compared to analyst estimates of $213.21 million. Signify Health had a net margin of 3.95% and a return on equity of 3.22%. Signify Health’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. As a group, equities research analysts expect that Signify Health will post 0.24 EPS for the current year.

In other news, insider Steve Senneff bought 2,500 shares of Signify Health stock in a transaction that occurred on Monday, May 9th. The shares were purchased at an average price of $11.75 per share, with a total value of $29,375.00. Following the completion of the acquisition, the insider now directly owns 217,587 shares in the company, valued at $2,556,647.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bradford Kyle Armbrester bought 8,320 shares of Signify Health stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average cost of $11.77 per share, for a total transaction of $97,926.40. Following the acquisition, the chief executive officer now owns 92,693 shares of the company’s stock, valued at $1,090,996.61. The disclosure for this purchase can be found here. In the last three months, insiders bought 20,820 shares of company stock valued at $252,801. Insiders own 8.02% of the company’s stock.

Several hedge funds have recently made changes to their positions in SGFY. Meeder Asset Management Inc. acquired a new stake in Signify Health during the 1st quarter worth approximately $28,000. Manchester Capital Management LLC acquired a new stake in Signify Health during the 1st quarter worth approximately $30,000. Advisor Group Holdings Inc. increased its position in Signify Health by 293.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,198 shares of the company’s stock worth $40,000 after purchasing an additional 1,640 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Signify Health in the first quarter valued at approximately $42,000. Finally, Wells Fargo & Company MN grew its position in Signify Health by 35.6% in the second quarter. Wells Fargo & Company MN now owns 3,204 shares of the company’s stock valued at $98,000 after acquiring an additional 841 shares in the last quarter.

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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