Cue Health (NASDAQ:HLTH) Downgraded to Neutral at The Goldman Sachs Group

Posted by on Jun 3rd, 2023

The Goldman Sachs Group lowered shares of Cue Health (NASDAQ:HLTH – Get Rating) from a buy rating to a neutral rating in a report issued on Friday morning, The Fly reports.

Separately, BTIG Research dropped their target price on shares of Cue Health from $5.00 to $3.00 in a report on Monday, May 15th.

Cue Health Price Performance

Shares of NASDAQ:HLTH opened at $0.60 on Friday. The company’s 50-day moving average price is $1.14 and its two-hundred day moving average price is $1.97. Cue Health has a one year low of $0.58 and a one year high of $5.47.

Cue Health (NASDAQ:HLTH – Get Rating) last issued its earnings results on Wednesday, May 10th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.13. The company had revenue of $24.77 million for the quarter. Cue Health had a negative net margin of 88.51% and a negative return on equity of 46.48%. As a group, equities analysts predict that Cue Health will post -1.96 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Cue Health by 23.3% in the 3rd quarter. BlackRock Inc. now owns 6,590,000 shares of the company’s stock valued at $19,835,000 after acquiring an additional 1,247,012 shares during the period. Vanguard Group Inc. raised its holdings in Cue Health by 49.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,036,975 shares of the company’s stock valued at $12,151,000 after acquiring an additional 1,327,510 shares during the period. State Street Corp raised its holdings in Cue Health by 2.5% in the 1st quarter. State Street Corp now owns 2,181,600 shares of the company’s stock valued at $3,971,000 after acquiring an additional 53,649 shares during the period. Geode Capital Management LLC grew its position in shares of Cue Health by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 1,975,889 shares of the company’s stock worth $3,596,000 after purchasing an additional 55,927 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Cue Health by 2.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 864,095 shares of the company’s stock worth $2,765,000 after purchasing an additional 20,562 shares in the last quarter. 44.63% of the stock is owned by institutional investors.

Cue Health Company Profile

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Cue Health Inc, a healthcare technology company, designs and develops diagnostic platform for diagnostic tests for individuals, enterprises, healthcare providers and payors, and public health agencies. The company offers Cue Integrated Care platform comprising 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 capability; Cue Virtual Care Delivery Apps, which include Cue Health App and Cue Enterprise Dashboard; and Cue Ecosystem Integrations and Apps, a solution that allows integrations with third-party applications and sensors.

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