The stock of TeamHealth Holdings Inc (NYSE:TMH) gapped up by $4.55 today and has $61.28 target or 43.00% above today’s $42.85 share price. The 8 months technical chart setup indicates low risk for the $3.10 billion company. The gap was reported on Oct, 31 by Barchart.com. If the $61.28 price target is reached, the company will be worth $1.33B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 16.44% or $6.05 during the last trading session, hitting $42.85. About 21.92M shares traded hands or 1573.28% up from the average. TeamHealth Holdings Inc (NYSE:TMH) has declined 11.50% since March 29, 2016 and is downtrending. It has underperformed by 14.97% the S&P500.
Analysts await TeamHealth Holdings Inc (NYSE:TMH) to report earnings on November, 1. They expect $0.73 EPS, up 7.35% or $0.05 from last year’s $0.68 per share. TMH’s profit will be $52.81 million for 14.67 P/E if the $0.73 EPS becomes a reality. After $0.66 actual EPS reported by TeamHealth Holdings Inc for the previous quarter, Wall Street now forecasts 10.61% EPS growth.
TeamHealth Holdings Inc (NYSE:TMH) Ratings Coverage
Out of 15 analysts covering Team Health Holdings (NYSE:TMH), 9 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 60% are positive. Team Health Holdings has been the topic of 35 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Thursday, August 11, the company rating was upgraded by Jefferies. Stifel Nicolaus maintained the shares of TMH in a report on Tuesday, February 9 with “Buy” rating. The stock of TeamHealth Holdings Inc (NYSE:TMH) earned “Neutral” rating by Goldman Sachs on Monday, November 30. The rating was maintained by UBS with “Neutral” on Thursday, August 4. Barclays Capital maintained it with “Overweight” rating and $46 target price in Thursday, August 4 report. The stock of TeamHealth Holdings Inc (NYSE:TMH) has “Buy” rating given on Thursday, January 21 by Jefferies. Canaccord Genuity maintained the stock with “Buy” rating in Tuesday, January 26 report. The firm has “Buy” rating given on Wednesday, August 26 by Zacks. On Wednesday, December 9 the stock rating was maintained by Canaccord Genuity with “Buy”. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, November 5 report.
According to Zacks Investment Research, “Team Health Holdings, L.L.C. is a supplier of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States. TeamHealth operates in two segments: Healthcare Services and Billing Services. The Healthcare Services segment, which comprises healthcare staffing, clinics and occupational health, provides healthcare service programs to users and providers of healthcare services on a fee for service, as well as a cost plus basis. The Billing Services segment provides a range of external billing, collection and consulting services on a fee basis to outside third-party customers.”
Insitutional Activity: The institutional sentiment increased to 0.93 in Q2 2016. Its up 0.18, from 0.75 in 2016Q1. The ratio increased, as 23 funds sold all TeamHealth Holdings Inc shares owned while 73 reduced positions. 24 funds bought stakes while 65 increased positions. They now own 78.44 million shares or 1.78% less from 79.86 million shares in 2016Q1.
Fmr Ltd Limited Liability Company holds 9.36 million shares or 0.05% of its portfolio. Invesco Ltd has 0.03% invested in the company for 1.70M shares. Canada Pension Plan Investment Board holds 0% of its portfolio in TeamHealth Holdings Inc (NYSE:TMH) for 1,700 shares. Peak6 L P holds 0% or 7,419 shares in its portfolio. Ubs Asset Management Americas last reported 44,520 shares in the company. Moreover, Suntrust Banks has 0% invested in TeamHealth Holdings Inc (NYSE:TMH) for 12,362 shares. Teachers Advsr has invested 0.02% of its portfolio in TeamHealth Holdings Inc (NYSE:TMH). The Tennessee-based First Mercantile Tru Comm has invested 0.02% in TeamHealth Holdings Inc (NYSE:TMH). Oz L P holds 0.05% of its portfolio in TeamHealth Holdings Inc (NYSE:TMH) for 233,798 shares. Tributary Capital Management Ltd reported 128,717 shares or 0.76% of all its holdings. California Employees Retirement Sys reported 160,400 shares or 0.01% of all its holdings. Jpmorgan Chase & last reported 0% of its portfolio in the stock. Credit Suisse Ag last reported 0% of its portfolio in the stock. Quantum Mngmt last reported 1.99% of its portfolio in the stock. Commercial Bank Of America Corp De last reported 0% of its portfolio in the stock.
More notable recent TeamHealth Holdings Inc (NYSE:TMH) news were published by: Fool.com which released: “Why TeamHealth Holdings Inc’s Shares Popped 16% Today” on October 31, 2016, also Wsj.com with their article: “Blackstone to Acquire Team Health for About $3.2 Billion” published on October 31, 2016, Prnewswire.com published: “Harwood Feffer LLP Announces Investigation of Team Health Holdings, Inc.” on October 31, 2016. More interesting news about TeamHealth Holdings Inc (NYSE:TMH) were released by: Reuters.com and their article: “Blackstone in the lead to acquire Team Health: sources” published on October 18, 2016 as well as Benzinga.com‘s news article titled: “Benzinga’s Volume Movers” with publication date: October 31, 2016.
TMH Company Profile
Team Health Holdings, Inc. (TeamHealth), incorporated on December 15, 1998, is a well-known provider of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States. The Firm operates through four divisions: Hospital Based Services, IPC Healthcare, Specialty Services and Other Services. The Hospital Based Services segment, which is an aggregation of emergency medicine, anesthesia, and the Company’s acute care services, provides healthcare service programs to users of healthcare services on a fee for service, as well as a cost plus or contract basis. The IPC Healthcare segment consists of IPC and provides acute hospital medicine and post-acute well-known provider service programs to users of healthcare services. The Specialty Services segment, which is an aggregation of military and government healthcare staffing, clinical services, and nurse call center operations, provides healthcare service programs to users of healthcare services in an outpatient setting or in a non-hospital environment. The Other Services segment is an aggregation of locums staffing, scribes, and billing, collection and consulting services that provides a range of other healthcare services. The Firm serves approximately 3,400 civilian and military hospitals, clinics and physician groups in over 45 states with a team of over 18,000 affiliated healthcare professionals, including physicians, physician assistants, nurse practitioners and nurses. The Firm provides outsourced services in emergency departments (EDs).
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