Brokers Issue Forecasts for Universal American Corp.’s FY2017 Earnings (UAM)
Universal American Corp. (NYSE:UAM) – Investment analysts at Leerink Swann lifted their FY2017 earnings per share estimates for shares of Universal American Corp. in a report issued on Monday. Leerink Swann analyst A. Gupte now forecasts that the brokerage will post earnings of $0.36 per share for the year, up from their prior estimate of $0.30. Leerink Swann has a “Hold” rating on the stock.
Universal American Corp. (NYSE:UAM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.06. The business had revenue of $346 million for the quarter, compared to analyst estimates of $404.48 million. Universal American Corp. had a negative net margin of 8.74% and a negative return on equity of 1.44%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share.
UAM has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Universal American Corp. from a “strong-buy” rating to a “sell” rating in a report on Wednesday, July 20th. Wedbush reissued a “neutral” rating and set a $9.00 target price on shares of Universal American Corp. in a research report on Thursday, August 4th.
Shares of Universal American Corp. (NYSE:UAM) traded up 2.01% during mid-day trading on Tuesday, hitting $7.63. 45,565 shares of the stock were exchanged. The stock’s 50 day moving average price is $7.37 and its 200-day moving average price is $7.57. Universal American Corp. has a 12-month low of $5.55 and a 12-month high of $8.55. The stock’s market capitalization is $496.37 million.
A number of hedge funds have recently added to or reduced their stakes in UAM. Deerfield Management Co. increased its stake in Universal American Corp. by 10.4% in the first quarter. Deerfield Management Co. now owns 5,285,500 shares of the company’s stock worth $37,738,000 after buying an additional 496,473 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Universal American Corp. by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,644,014 shares of the company’s stock worth $50,361,000 after buying an additional 94,060 shares in the last quarter. California State Teachers Retirement System increased its stake in Universal American Corp. by 15.0% in the second quarter. California State Teachers Retirement System now owns 121,444 shares of the company’s stock worth $921,000 after buying an additional 15,851 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Universal American Corp. by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 241,469 shares of the company’s stock worth $1,830,000 after buying an additional 11,949 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Universal American Corp. during the second quarter worth $100,000. 75.85% of the stock is owned by institutional investors and hedge funds.
About Universal American Corp.
Universal American Corp. provides an array of health insurance and managed care products and services to people covered by Medicare and Medicaid. The Company’s segments include Medicare Advantage, Management Services Organization (MSO) and Medicaid. Its Medicare Advantage segment contains the operations of its initiatives in managed care for seniors.
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