Performant Healthcare, Inc. (NASDAQ:PHLT) Receives Average Recommendation of “Hold” from Analysts

Shares of Performant Healthcare, Inc. (NASDAQ:PHLT) have received a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $7.8750.

A number of equities analysts have recently weighed in on the company. Lake Street Capital cut Performant Healthcare from a “buy” rating to a “hold” rating and set a $7.75 price target for the company. in a report on Monday, August 4th. Craig Hallum lowered shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating and set a $7.75 target price on the stock. in a report on Monday, August 4th. Wall Street Zen cut shares of Performant Healthcare from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Citizens Jmp lowered shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Finally, B. Riley downgraded shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 4th.

Performant Healthcare Stock Up 0.3%

Shares of NASDAQ PHLT opened at $7.75 on Friday. The firm’s 50-day moving average is $7.72 and its two-hundred day moving average is $5.58. The company has a market capitalization of $623.41 million, a PE ratio of -775.00 and a beta of 0.69. Performant Healthcare has a 12-month low of $2.17 and a 12-month high of $7.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.64 and a quick ratio of 2.64.

Performant Healthcare (NASDAQ:PHLT) last issued its quarterly earnings data on Tuesday, March 15th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $40.04 million during the quarter. Performant Healthcare had a negative return on equity of 0.04% and a negative net margin of 0.64%. Equities analysts anticipate that Performant Healthcare will post -0.13 EPS for the current fiscal year.

Institutional Trading of Performant Healthcare

A number of hedge funds have recently added to or reduced their stakes in PHLT. Mirador Capital Partners LP bought a new position in shares of Performant Healthcare in the second quarter valued at approximately $9,698,000. CWC Advisors LLC. acquired a new position in Performant Healthcare in the 2nd quarter valued at $384,000. Salem Investment Counselors Inc. bought a new position in Performant Healthcare in the 2nd quarter worth $248,000. First Eagle Investment Management LLC acquired a new position in Performant Healthcare during the 2nd quarter worth $10,817,000. Finally, HighMark Wealth Management LLC bought a new stake in Performant Healthcare during the second quarter valued at about $3,250,000. 77.15% of the stock is owned by institutional investors and hedge funds.

About Performant Healthcare

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.