Point72 Asset Management L.P. Makes New Investment in eHealth, Inc. (NASDAQ:EHTH)

Point72 Asset Management L.P. acquired a new position in eHealth, Inc. (NASDAQ:EHTH - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 147,158 shares of the financial services provider's stock, valued at approximately $1,383,000. Point72 Asset Management L.P. owned approximately 0.50% of eHealth at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new position in shares of eHealth during the 4th quarter valued at approximately $29,000. Graham Capital Management L.P. purchased a new position in shares of eHealth during the 4th quarter valued at approximately $110,000. Prudential Financial Inc. purchased a new position in shares of eHealth during the 4th quarter valued at approximately $111,000. XTX Topco Ltd purchased a new position in shares of eHealth during the 4th quarter valued at approximately $145,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of eHealth during the 4th quarter valued at approximately $161,000. Hedge funds and other institutional investors own 79.54% of the company's stock.

eHealth Trading Up 0.7%

Shares of EHTH traded up $0.03 during midday trading on Tuesday, reaching $4.38. The company had a trading volume of 35,663 shares, compared to its average volume of 266,948. eHealth, Inc. has a 1-year low of $3.58 and a 1-year high of $11.36. The stock has a market cap of $132.83 million, a PE ratio of -1.54 and a beta of 1.11. The firm has a 50 day simple moving average of $5.78 and a 200-day simple moving average of $7.34. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 0.14.

eHealth (NASDAQ:EHTH - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.08. eHealth had a negative return on equity of 5.70% and a negative net margin of 7.58%. The business had revenue of $113.12 million during the quarter, compared to analysts' expectations of $99.46 million. Research analysts forecast that eHealth, Inc. will post -2.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EHTH. Royal Bank of Canada reiterated a "sector perform" rating and set a $11.00 target price on shares of eHealth in a research report on Monday, May 19th. UBS Group reduced their price objective on eHealth from $9.50 to $7.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded eHealth from a "buy" rating to a "hold" rating in a research note on Sunday, May 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $6.75.

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.