Signify Health (NYSE:SGFY) Shares Gap Down to $12.65

Posted by on Jun 16th, 2022

Signify Health, Inc. (NYSE:SGFY – Get Rating)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $12.65, but opened at $11.93. Signify Health shares last traded at $12.14, with a volume of 15,974 shares.

Several research analysts have weighed in on SGFY shares. Robert W. Baird upgraded Signify Health from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $19.00 to $16.00 in a report on Monday, May 16th. Piper Sandler boosted their price objective on Signify Health from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, June 6th. Cowen reduced their price objective on Signify Health from $27.00 to $18.00 and set a “market perform” rating for the company in a report on Wednesday, March 9th. UBS Group upgraded Signify Health from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $21.00 in a report on Wednesday, March 9th. Finally, The Goldman Sachs Group boosted their price objective on Signify Health from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $26.33.

The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.83 billion, a P/E ratio of 66.58, a PEG ratio of 1.17 and a beta of 1.55. The firm has a 50 day moving average of $13.82 and a 200-day moving average of $14.21.

Signify Health (NYSE:SGFY – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. Signify Health had a return on equity of 3.22% and a net margin of 3.95%. The firm had revenue of $216.50 million during the quarter, compared to analysts’ expectations of $213.21 million. During the same period in the prior year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up 20.3% on a year-over-year basis. As a group, research analysts expect that Signify Health, Inc. will post 0.23 EPS for the current year.

In related news, insider Steve Senneff purchased 2,500 shares of the stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $11.75 per share, for a total transaction of $29,375.00. Following the completion of the acquisition, the insider now owns 217,587 shares of the company’s stock, valued at $2,556,647.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Bradford Kyle Armbrester purchased 8,320 shares of the stock in a transaction dated Monday, May 9th. The shares were bought at an average price of $11.77 per share, with a total value of $97,926.40. Following the completion of the acquisition, the chief executive officer now directly owns 92,693 shares of the company’s stock, valued at approximately $1,090,996.61. The disclosure for this purchase can be found here. Insiders have acquired 20,820 shares of company stock valued at $252,801 over the last 90 days. Corporate insiders own 8.02% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC boosted its position in Signify Health by 11.6% during the fourth quarter. ARK Investment Management LLC now owns 20,010,328 shares of the company’s stock valued at $284,547,000 after acquiring an additional 2,076,338 shares during the last quarter. Meristem Family Wealth LLC bought a new stake in Signify Health during the fourth quarter valued at $11,742,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Signify Health by 12.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,525,816 shares of the company’s stock valued at $78,577,000 after acquiring an additional 601,657 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in Signify Health by 12.2% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 5,525,816 shares of the company’s stock valued at $77,969,000 after acquiring an additional 601,657 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Signify Health by 102.2% during the 4th quarter. Invesco Ltd. now owns 854,468 shares of the company’s stock worth $12,151,000 after purchasing an additional 431,974 shares in the last quarter.

Signify Health Company Profile (NYSE:SGFY)

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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