Royal Bank of Canada Reiterates Sector Perform Rating for GoHealth (NASDAQ:GOCO)

GoHealth (NASDAQ:GOCO)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They currently have a $13.00 price objective on the stock. Royal Bank of Canada’s target price indicates a potential upside of 18.83% from the stock’s current price.

GoHealth Price Performance

Shares of NASDAQ:GOCO opened at $10.94 on Monday. GoHealth has a twelve month low of $7.27 and a twelve month high of $16.44. The company’s 50 day moving average is $8.95 and its 200 day moving average is $9.95. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.83. The company has a market cap of $248.64 million, a PE ratio of -1.53 and a beta of 1.71.

GoHealth (NASDAQ:GOCO) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($2.47) by $1.72. GoHealth had a negative net margin of 8.62% and a negative return on equity of 8.51%. The company had revenue of $105.87 million for the quarter, compared to the consensus estimate of $138.99 million. On average, sell-side analysts forecast that GoHealth will post -5.35 EPS for the current year.

Institutional Investors Weigh In On GoHealth

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of GoHealth by 22.0% during the 2nd quarter. Renaissance Technologies LLC now owns 18,272 shares of the company’s stock worth $178,000 after purchasing an additional 3,300 shares during the period. Bank of New York Mellon Corp grew its stake in GoHealth by 16.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,982 shares of the company’s stock valued at $126,000 after acquiring an additional 1,802 shares during the period. Vanguard Group Inc. grew its stake in GoHealth by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 206,525 shares of the company’s stock valued at $2,171,000 after acquiring an additional 5,605 shares during the period. Finally, Empowered Funds LLC grew its stake in GoHealth by 7.7% in the 1st quarter. Empowered Funds LLC now owns 19,536 shares of the company’s stock valued at $205,000 after acquiring an additional 1,400 shares during the period. Institutional investors and hedge funds own 24.21% of the company’s stock.

About GoHealth

GoHealth, Inc operates as a health insurance marketplace and Medicare-focused digital health company in the United States. The company operates a technology platform that leverages machine-learning algorithms of insurance behavioral data to optimize the process for helping individuals find the health insurance plan for their specific needs.