Wellgistics Health (NASDAQ:MEDS) Trading 4.6% Higher – Here’s What Happened

Wellgistics Health, Inc. (NASDAQ:MEDS)’s share price traded up 4.6% during mid-day trading on Tuesday . The stock traded as high as $1.36 and last traded at $1.36. 41,165 shares were traded during trading, a decline of 78% from the average daily volume of 185,336 shares. The stock had previously closed at $1.30.

Analysts Set New Price Targets

MEDS has been the topic of several recent analyst reports. Wall Street Zen raised Wellgistics Health from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wellgistics Health in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Wellgistics Health presently has a consensus rating of “Sell”.

Wellgistics Health Trading Down 9.7%

The stock has a market cap of $3.70 million, a price-to-earnings ratio of -0.03 and a beta of -1.54. The stock’s 50 day moving average is $3.16 and its two-hundred day moving average is $5.70.

Hedge Funds Weigh In On Wellgistics Health

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. raised its stake in Wellgistics Health by 593.8% during the 3rd quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock valued at $52,000 after acquiring an additional 50,000 shares during the last quarter. Geode Capital Management LLC lifted its position in Wellgistics Health by 81.0% during the 4th quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock worth $195,000 after acquiring an additional 218,170 shares during the period. Finally, XTX Topco Ltd lifted its position in Wellgistics Health by 195.1% during the 4th quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock worth $42,000 after acquiring an additional 70,137 shares during the period. Institutional investors and hedge funds own 5.68% of the company’s stock.

About Wellgistics Health

Wellgistics Health, Inc is a healthcare technology and pharmaceutical services company focused on improving access to prescription medications in the United States. The company works across the healthcare supply chain to connect pharmaceutical manufacturers, healthcare providers, pharmacies and patients through technology-enabled distribution and support services.

Its offerings include pharmaceutical distribution and related services designed to help independent pharmacies and other healthcare organizations obtain and dispense prescription medicines.