Performant Healthcare, Inc. (NASDAQ:PHLT - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $7.74 and last traded at $7.73, with a volume of 86506 shares changing hands. The stock had previously closed at $7.72.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on PHLT shares. JMP Securities initiated coverage on Performant Healthcare in a research note on Thursday, July 10th. They issued a "market outperform" rating and a $8.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Performant Healthcare in a report on Wednesday. Craig Hallum lowered shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating and set a $7.75 price target on the stock. in a report on Monday, August 4th. Wall Street Zen downgraded shares of Performant Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Citizens Jmp downgraded shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $7.88.
View Our Latest Research Report on Performant Healthcare
Performant Healthcare Stock Performance
The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $621.00 million, a P/E ratio of -772.00 and a beta of 0.69. The firm's 50 day simple moving average is $7.65 and its two-hundred day simple moving average is $4.67.
Performant Healthcare (NASDAQ:PHLT - Get Free Report) last posted its earnings results on Tuesday, March 15th. The company reported $0.08 EPS for the quarter. The company had revenue of $40.04 million during the quarter. Performant Healthcare had a negative net margin of 0.64% and a negative return on equity of 0.04%. As a group, analysts forecast that Performant Healthcare, Inc. will post -0.13 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHLT. Salem Investment Counselors Inc. purchased a new position in Performant Healthcare in the second quarter valued at about $248,000. Range Financial Group LLC purchased a new position in Performant Healthcare in the second quarter valued at about $80,000. Mirador Capital Partners LP purchased a new position in Performant Healthcare in the second quarter valued at about $9,698,000. CWC Advisors LLC. purchased a new position in Performant Healthcare in the second quarter valued at about $384,000. Finally, HighMark Wealth Management LLC bought a new stake in shares of Performant Healthcare in the second quarter valued at approximately $3,250,000. 77.15% of the stock is currently owned by hedge funds and other institutional investors.
About Performant Healthcare
(
Get Free Report)
Performant Healthcare, Inc engages in the provision of technology-enabled audit, recovery, customer care, and related analytics services. Its services help identify improper payments, and in some markets, restructure and recover delinquent or defaulted assets and improper payments for both government and private clients.
Further Reading
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