Signify Health, Inc. (NYSE:SGFY) Given Average Rating of “Buy” by Brokerages

Signify Health, Inc. (NYSE:SGFYGet Rating) has been assigned an average rating of “Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $26.67.

Several analysts have recently issued reports on the stock. UBS Group upgraded shares of Signify Health from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $21.00 in a research report on Wednesday, March 9th. Guggenheim initiated coverage on Signify Health in a report on Tuesday, March 29th. They issued a “buy” rating and a $36.00 price objective on the stock. Cowen reduced their target price 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. Piper Sandler lowered their price target on Signify Health from $34.00 to $27.00 and set an “overweight” rating on the stock in a research note on Sunday, March 6th. Finally, The Goldman Sachs Group lifted 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.

SGFY stock traded up $1.67 during mid-day trading on Friday, reaching $13.12. 2,704,677 shares of the company’s stock were exchanged, compared to its average volume of 1,501,590. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 69.06, a price-to-earnings-growth ratio of 1.08 and a beta of 1.56. Signify Health has a 12-month low of $10.70 and a 12-month high of $31.91. The stock’s 50 day moving average is $15.88 and its 200 day moving average is $14.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.46 and a quick ratio of 5.46.

Signify Health (NYSE:SGFYGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09). The business had revenue of $216.50 million for the quarter, compared to analysts’ expectations of $213.21 million. Signify Health had a net margin of 3.95% and a return on equity of 3.27%. The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business earned $0.20 EPS. On average, research analysts forecast that Signify Health will post 0.23 earnings per share for the current fiscal year.

In other news, insider Steve Senneff purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were bought at an average cost of $12.55 per share, for a total transaction of $125,500.00. Following the completion of the purchase, the insider now directly owns 215,087 shares of the company’s stock, valued at $2,699,341.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bradford Kyle Armbrester purchased 8,320 shares of the stock in a transaction dated Monday, May 9th. The shares were purchased at an average price of $11.77 per share, with a total value of $97,926.40. Following the completion of the transaction, 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 30,820 shares of company stock valued at $492,801. Corporate insiders own 8.02% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund grew its stake in shares of Signify Health by 180.4% in the fourth quarter. New York State Common Retirement Fund now owns 71,234 shares of the company’s stock worth $1,013,000 after acquiring an additional 45,834 shares in the last quarter. George Kaiser Family Foundation purchased a new position in Signify Health in the third quarter valued at $3,923,000. Morgan Stanley grew its stake in Signify Health by 19.4% during the 3rd quarter. Morgan Stanley now owns 1,021,240 shares of the company’s stock worth $18,249,000 after purchasing an additional 166,217 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Signify Health by 302,278.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 257,022 shares of the company’s stock worth $4,593,000 after purchasing an additional 256,937 shares during the period. Finally, First Mercantile Trust Co. raised its position in Signify Health by 53.8% in the 3rd quarter. First Mercantile Trust Co. now owns 6,416 shares of the company’s stock valued at $115,000 after purchasing an additional 2,245 shares in the last quarter.

About Signify Health (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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