MultiPlan Co. (NYSE:MPLN) has been given an average recommendation of “Buy” by the six ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.20.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of MultiPlan from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th. Tigress Financial assumed coverage on shares of MultiPlan in a research report on Friday, August 20th. They set a “buy” rating and a $9.00 price target on the stock.
MPLN traded up $0.05 on Tuesday, hitting $5.81. 2,354,841 shares of the company’s stock were exchanged, compared to its average volume of 2,807,027. MultiPlan has a fifty-two week low of $5.48 and a fifty-two week high of $11.48. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average price of $6.73 and a 200-day moving average price of $7.20. The stock has a market cap of $3.88 billion and a price-to-earnings ratio of -10.75.
A number of institutional investors and hedge funds have recently made changes to their positions in MPLN. Capula Management Ltd acquired a new position in MultiPlan in the first quarter valued at approximately $57,000. Comerica Bank acquired a new stake in shares of MultiPlan in the second quarter valued at approximately $64,000. Twinbeech Capital LP acquired a new stake in shares of MultiPlan in the first quarter valued at approximately $87,000. Nisa Investment Advisors LLC purchased a new stake in shares of MultiPlan during the second quarter worth approximately $87,000. Finally, UBS Group AG raised its stake in shares of MultiPlan by 63.6% during the first quarter. UBS Group AG now owns 16,400 shares of the company’s stock worth $91,000 after purchasing an additional 6,375 shares during the last quarter. 84.24% of the stock is owned by hedge funds and other institutional investors.
MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services, which reduce medical costs through data-driven algorithms that detect claims over-charges and recommend or negotiate reimbursement; network-based services that reduce medical costs through contracted discounts with healthcare providers; and payment integrity services, which reduce medical costs by identifying and removing improper and unnecessary charges paid during the claim.
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