Convey Health Solutions (NYSE:CNVY) Rating Lowered to Equal Weight at Barclays

Convey Health Solutions (NYSE:CNVYGet Rating) was downgraded by analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Wednesday, The Fly reports. They currently have a $11.00 target price on the stock, down from their prior target price of $12.00. Barclays‘s target price would suggest a potential upside of 6.18% from the company’s previous close.

Other analysts have also issued reports about the stock. Guggenheim initiated coverage on shares of Convey Health Solutions in a research report on Wednesday, April 6th. They issued a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity Group decreased their price target on shares of Convey Health Solutions from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, March 24th. Canaccord Genuity Group decreased their price target on shares of Convey Health Solutions from $14.00 to $11.00 in a research report on Wednesday, May 11th. Finally, The Goldman Sachs Group decreased their price target on shares of Convey Health Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, March 24th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.11.

NYSE:CNVY opened at $10.36 on Wednesday. Convey Health Solutions has a 1 year low of $3.75 and a 1 year high of $11.85. The firm’s fifty day simple moving average is $5.68 and its 200 day simple moving average is $6.37. The company has a current ratio of 2.45, a quick ratio of 1.81 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $758.29 million and a PE ratio of -60.94.

Convey Health Solutions (NYSE:CNVYGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). The company had revenue of $96.71 million during the quarter, compared to analyst estimates of $88.68 million. Convey Health Solutions had a positive return on equity of 0.64% and a negative net margin of 2.90%. As a group, analysts anticipate that Convey Health Solutions will post 0.29 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC lifted its holdings in shares of Convey Health Solutions by 1.2% during the 1st quarter. Rice Hall James & Associates LLC now owns 232,615 shares of the company’s stock worth $1,521,000 after acquiring an additional 2,700 shares during the period. Jane Street Group LLC bought a new position in Convey Health Solutions during the 1st quarter valued at about $98,000. Wellington Management Group LLP lifted its holdings in Convey Health Solutions by 67.6% during the 1st quarter. Wellington Management Group LLP now owns 1,507,805 shares of the company’s stock valued at $9,861,000 after purchasing an additional 607,954 shares during the last quarter. State Street Corp lifted its holdings in Convey Health Solutions by 15.4% during the 1st quarter. State Street Corp now owns 206,611 shares of the company’s stock valued at $1,351,000 after purchasing an additional 27,555 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Convey Health Solutions during the 1st quarter valued at about $122,000. 90.73% of the stock is owned by institutional investors.

About Convey Health Solutions (Get Rating)

Convey Health Solutions Holdings, Inc provides technology enabled solutions and advisory services to assist its clients with workflows across product developments, sales, member experience, clinical management, core operations, and business intelligence and analytics. It operates through two segments, Technology Enabled Solutions and Advisory Services.

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