Barrington Research analyst Michael Petusky has trimmed his price target for shares of Healthways to $13 from $18 following the population health services company’s quarterly report and the unveiling of a wide-ranging restructuring plan. Petusky still has Healthways at ‘outperform.’
Over at Barclays, Josh Raskin is still a little more guarded at ‘underweight.’ He also has cut his target for Healthways shares (Ticker: HWAY), which closed Tuesday at $11.48, to $12 from $15.
Healthways has landed three new contracts for the Dr. Ornish's Program for Reversing Heart Disease.
The Nashville company has partnered with Hawaii Pacific Health, KentuckyOne Health and The Heart Health Center, a provider group in St. Louis. Terms of the contracts were not released.
"The addition of our first large provider group demonstrates the breadth of demand for solutions that combat the root causes of the most serious diseases," Alfred Lumsdaine (pictured), Healthways interim CEO, said in a release. "The Ornish Reversal Program offers patients a powerful alternative to high-cost treatment such as surgery and offers hospitals and providers a proven solution that supports the transition to value-based care."
Healthways has licensed the Dr. Ornish program since 2013. Shares of Healthways (Ticker: HWAY) were up slightly to $11.99 Thursday. Year to date, they're down nearly 40 percent.
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