Cue Health (NYSEAMERICAN:HLTH) Downgraded by Zacks Investment Research to “Sell”

Cue Health (NYSEAMERICAN:HLTH – Get Rating) (TSE:NHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released Wednesday to investors, reports.

According to Zacks, “Cue Health Inc. is a health technology company. It offers individuals, businesses, government agencies, and healthcare access to lab-grade diagnostic tests at home, work, or point-of-care, all in one device. Cue Health Inc. is headquartered in San Diego. “

HLTH has been the subject of several other research reports. Cowen cut its price target on Cue Health from $15.00 to $10.00 in a Wednesday, March 30 report. Morgan Stanley lowered its price target on Cue Health shares from $12.00 to $11.00 and set an “equal weight” rating for the company in a Wednesday, March 30 research report. One analyst has assigned the stock a sell rating, another has assigned a hold rating and three have assigned the company’s stock a buy rating. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.20.

NYSEAMERICAN: HLTH opened at $6.90 on Wednesday. Cue Health has a 52-week low of $5.48 and a 52-week high of $22.55.

Cue Health (NYSEAMERICAN:HLTH – Get Rating) (TSE:NHC) last released quarterly earnings data on Tuesday, March 29. The healthcare company reported earnings per share (EPS) of $0.22 for the quarter, beating the consensus estimate of $0.11 by $0.11. The company had revenue of $192.51 million for the quarter. Research analysts predict that Cue Health will post earnings per share of 1.32 for the current year.

Several institutional investors and hedge funds have recently increased or reduced their stake in HLTH. Goldman Sachs Group Inc. increased its position in Cue Health shares by 901.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 11,117,923 shares of the healthcare company valued at $149,091,000 after buying an additional 10,008,091 shares last quarter. Johnson & Johnson purchased a new equity stake in Cue Health in Q3 valued at $65,532,000. Temasek Holdings Private Ltd bought a new stake in Cue Health shares in Q3 worth $36,906,000. Naya Capital Management UK Ltd. bought a new stake in Cue Health stock in Q3 worth $28,710,000. Finally, Capital World Investors purchased a new equity stake in Cue Health in Q3 at a value of $28,049,000.

Cue Health Company Profile (Get a rating)

Cue Health Inc, a health technology company, designs and develops a diagnostic platform for diagnostic testing for individuals, businesses, healthcare providers and payers, and public health agencies. The Company offers Cue Integrated Care Platform consisting of hardware and software components, such as Cue Health Monitoring System consisting of Cue Reader, a portable and reusable reader, Cue Cartridge, a single-use test cartridge, and Cue Wand, a sample collection wand; Cue Data and Innovation Layer, a solution with cloud-based data and analytics capabilities; Cue Virtual Care Delivery Apps, which includes Cue Health App and Cue Enterprise Dashboard; and Cue Ecosystem Integrations and Apps, a solution that enables integrations with third-party apps and sensors.

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