WELL Health Technologies (TSE:WELL) Stock Price Breaks Below 200-Day Moving Average - Here's Why

Key Points

• WELL Health Technologies shares fell below their 200-day moving average, trading as low as C$4.17 and last changing hands at C$4.18 on volume of 655,536 shares.
• Despite the technical decline, analysts remain bullish: five analysts rate the stock a Buy, with a consensus price target of C$7.40; Canaccord Genuity and TD set targets of C$7.75 and C$8.50, respectively.
• The company reported quarterly revenue of C$400.43 million and earnings of C$0.04 per share, but its profitability remained limited, with a 0.25% net margin and 0.44% return on equity.

Shares of WELL Health Technologies Corp. (TSE:WELL - Get Free Report) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$4.19 and traded as low as C$4.17. WELL Health Technologies shares last traded at C$4.18, with a volume of 655,536 shares trading hands.

Wall Street Analyst Weigh In

WELL has been the subject of several recent analyst reports. Canaccord Genuity Group upped their price objective on shares of WELL Health Technologies from C$6.50 to C$7.75 and gave the stock a "buy" rating in a research report on Thursday, July 9th. TD set a C$8.50 price target on WELL Health Technologies and gave the stock a "buy" rating in a report on Monday, October 5th. Five analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$7.40.

WELL Health Technologies Stock Down 0.7%

The company has a debt-to-equity ratio of 100.05, a current ratio of 0.80 and a quick ratio of 1.02. The firm has a market capitalization of C$1.07 billion, a price-to-earnings ratio of 209.00, a P/E/G ratio of -1.93 and a beta of 0.71. The stock has a fifty day moving average of C$4.29 and a two-hundred day moving average of C$4.19.

WELL Health Technologies (TSE:WELL - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.04 EPS for the quarter. WELL Health Technologies had a net margin of 0.25% and a return on equity of 0.44%. The company had revenue of C$400.43 million for the quarter. Sell-side analysts anticipate that WELL Health Technologies Corp. will post 0.30 earnings per share for the current year.

WELL Health Technologies Company Profile

WELL Health Technologies Corp. TSX: WELL is Canada's largest outpatient healthcare company and a leading provider of technology-enabled healthcare solutions. WELL is building the infrastructure for a healthier Canada, where every patient gets better care, every provider is empowered by AI, and every piece of health data is protected. WELL owns and operates more than 250 clinics in Canada, supporting more than 5 million annual patient visits. Through its subsidiary WELLSTAR, WELL provides electronic medical records, AI-powered clinical tools, patient engagement platforms and IT management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.