Cue Health (NYSEAMERICAN:HLTH) Downgraded by Zacks Investment Research to “Sell”


Cue Health (NYSEAMERICAN:HLTH – Get Rating) (TSE:NHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Cue Health Inc. is a health technology company. It offers individuals, enterprises, government agencies and healthcare provides access to lab-quality diagnostic testing at home, at work or at the point-of-care, all in a device. Cue Health Inc. is headquartered in San Diego. “

HLTH has been the topic of several other research reports. Cowen reduced their price objective on Cue Health from $15.00 to $10.00 in a report on Wednesday, March 30th. Morgan Stanley dropped their target price on shares of Cue Health from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat , the company has a consensus rating of “Hold” and a consensus target price of $14.20.

NYSEAMERICAN:HLTH opened at $6.90 on Wednesday. Cue Health has a 52-week low of $5.48 and a 52-week high of $22.55.

Cue Health (NYSEAMERICAN:HLTH – Get Rating) (TSE:NHC) last posted its quarterly earnings data on Tuesday, March 29th. The healthcare company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.11 . The firm had revenue of $192.51 million for the quarter. Research analysts predict that Cue Health will post 1.32 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HLTH. Goldman Sachs Group Inc. increased its position in shares of Cue Health by 901.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 11,117,923 shares of the healthcare company’s stock valued at $149,091,000 after buying an additional 10,008,091 shares in the last quarter. Johnson & Johnson bought a new stake in shares of Cue Health in the 3rd quarter valued at $65,532,000. Temasek Holdings Private Ltd bought a new stake in shares of Cue Health in the 3rd quarter valued at $36,906,000. Naya Capital Management UK Ltd. bought a new stake in shares of Cue Health in the 3rd quarter valued at $28,710,000. Finally, Capital World Investors bought a new stake in shares of Cue Health in the 3rd quarter valued at $28,049,000.

Cue Health Company Profile (Get Rating)

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.

Further Reading

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