UPDATE: Oppenheimer Upgrades Healthways (HWAY) to Outperform
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(Updated - August 12, 2016 9:19 AM EDT)
Oppenheimer upgraded Healthways (NASDAQ: HWAY) from Perform to Outperform with a price target of $27. Analyst Mohan Naidu said its leaner organization should be more focused and provide a consistent financial profile.
"We attended Healthway’s investor day and got a deep dive into the company’s Network Solutions, which is the remaining entity after the divestiture. With the recent divestiture of the total population health solution offerings, HWAY has become leaner and more focused on the Senior Health offerings. The growing (>10K/day) Medicare eligible population is likely to provide a steady stream of new membership growth opportunities for Healthways. The new structure not only provides consistency in numbers, but removes distractions to focus on driving the penetration of the core SilverSneakers brand. The current financial targets of high-single-digit revenue growth with 20%+ EBITDA margins should permit a steady reduction in net debt, increasing shareholder value substantially," said the analyst.
Shares of Healthways closed at $22.58 yesterday.
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