eHealth, Inc. $EHTH Shares Sold by Palo Alto Investors LP

Key Points

• Palo Alto Investors LP has reduced its stake in eHealth, Inc. by 10.3%, selling 193,791 shares and retaining approximately 1,684,336 shares which represents 2.1% of its portfolio.
• eHealth's stock opened at $3.87 with a market cap of $118.27 million; it has a 52-week low of $3.18 and a high of $11.36.
• Recent analyst ratings include a downgrade from Wall Street Zen to a "sell" and price targets that vary, with UBS lowering its target from $7.00 to $5.00.

Palo Alto Investors LP cut its position in eHealth, Inc. (NASDAQ:EHTH - Free Report) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,684,336 shares of the financial services provider's stock after selling 193,791 shares during the period. eHealth accounts for 2.1% of Palo Alto Investors LP's holdings, making the stock its 13th largest position. Palo Alto Investors LP owned about 5.55% of eHealth worth $11,251,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Informed Momentum Co LLC purchased a new stake in shares of eHealth during the first quarter worth $475,000. Truffle Hound Capital LLC boosted its position in eHealth by 185.7% during the first quarter. Truffle Hound Capital LLC now owns 200,000 shares of the financial services provider's stock worth $1,336,000 after acquiring an additional 130,000 shares during the last quarter. Millennium Management LLC grew its stake in eHealth by 83.3% during the 4th quarter. Millennium Management LLC now owns 404,912 shares of the financial services provider's stock valued at $3,806,000 after acquiring an additional 183,956 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in eHealth in the 4th quarter valued at about $1,383,000. Finally, Sona Asset Management US LLC purchased a new position in eHealth in the 4th quarter worth approximately $4,199,000. 79.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EHTH shares. Royal Bank Of Canada restated a "sector perform" rating and set a $11.00 target price on shares of eHealth in a report on Monday, May 19th. Wall Street Zen lowered eHealth from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, UBS Group dropped their target price on eHealth from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $7.67.

eHealth Stock Performance

Shares of NASDAQ EHTH traded up $0.14 during midday trading on Friday, reaching $4.09. 264,891 shares of the stock were exchanged, compared to its average volume of 292,828. The stock has a market capitalization of $124.99 million, a P/E ratio of -6.49 and a beta of 1.13. The company has a 50 day simple moving average of $3.81 and a 200 day simple moving average of $5.17. eHealth, Inc. has a twelve month low of $3.18 and a twelve month high of $11.36.

eHealth Profile

eHealth, Inc operates a health insurance marketplace that provides consumer engagement, education, and health insurance enrollment solutions in the United States. The company operates in two segments, Medicare; and Employer and Individual. The Medicare segment offers sale of Medicare-related health insurance plans, which includes Medicare advantage, Medicare Supplement, and Medicare Part D prescription drug plans to Medicare-eligible customers including but not limited to, dental, and vision insurance, as well as advertising program for marketing and other services.