Zacks Investment Research Lowers WebMD Health Corp (WBMD) to Hold

WebMD Health Corp (NASDAQ:WBMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “WebMD announced today that is has signed an agreement to acquire Conceptis Technologies Inc., a Montreal-based provider of online and offline medical education and promotion aimed at physicians and other healthcare professionals. Conceptis has been successful in developing a strong online presence in the cardiology community and is highly respected for the depth and breadth of content contained on its flagship. With the combination of two of the leading cardiology channels on the Internet, Medscape Cardiology and www.theheart.org, WebMD is well positioned to further its lead and penetration in this high value segment of medical marketing. “

WBMD has been the topic of several other research reports. BidaskClub lowered WebMD Health Corp from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. KeyCorp lowered WebMD Health Corp to an “overweight” rating in a research note on Wednesday, August 2nd. Citigroup Inc. lowered WebMD Health Corp from a “buy” rating to a “neutral” rating and upped their price target for the company from $62.00 to $66.50 in a research note on Wednesday, July 26th. Raymond James Financial, Inc. lowered WebMD Health Corp from an “outperform” rating to a “mkt perform” rating in a research note on Wednesday, July 26th. Finally, SunTrust Banks, Inc. lowered WebMD Health Corp from a “buy” rating to a “hold” rating and upped their price target for the company from $60.00 to $66.50 in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $65.25.

Shares of WebMD Health Corp (WBMD) opened at 66.46 on Wednesday. The firm has a 50-day moving average price of $66.32 and a 200-day moving average price of $57.78. WebMD Health Corp has a 1-year low of $48.10 and a 1-year high of $66.57. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 34.03 and a beta of 0.79.

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A number of hedge funds and other institutional investors have recently modified their holdings of WBMD. Meadow Creek Investment Management LLC increased its holdings in WebMD Health Corp by 10.0% during the 1st quarter. Meadow Creek Investment Management LLC now owns 1,936 shares of the health services provider’s stock worth $102,000 after purchasing an additional 176 shares during the period. Public Employees Retirement System of Ohio increased its holdings in WebMD Health Corp by 11.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,959 shares of the health services provider’s stock worth $115,000 after purchasing an additional 196 shares during the period. Glen Harbor Capital Management LLC increased its holdings in WebMD Health Corp by 10.0% during the 1st quarter. Glen Harbor Capital Management LLC now owns 2,464 shares of the health services provider’s stock worth $130,000 after purchasing an additional 224 shares during the period. Asset Management One Co. Ltd. purchased a new stake in WebMD Health Corp during the 1st quarter worth about $148,000. Finally, Elkfork Partners LLC increased its holdings in WebMD Health Corp by 10.0% during the 1st quarter. Elkfork Partners LLC now owns 2,992 shares of the health services provider’s stock worth $158,000 after purchasing an additional 272 shares during the period. Institutional investors own 91.10% of the company’s stock.

About WebMD Health Corp

WebMD Health Corp. is a provider of health information services. The Company provides its services to consumers, physicians and other healthcare professionals through its Websites, mobile applications and health-focused publications. Advertisers and sponsors use The WebMD Health Network to reach and engage healthcare professionals and consumers who are interested in healthy living, wellness, diseases and conditions, and other health-related topics.

Analyst Recommendations for WebMD Health Corp (NASDAQ:WBMD)

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