MultiPlan (NYSE:MPLN) Issues Earnings Results

MultiPlan (NYSE:MPLN) announced its quarterly earnings data on Thursday. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01, Zacks reports. MultiPlan had a negative return on equity of 7.54% and a negative net margin of 122.73%. The company had revenue of $233.48 million for the quarter, compared to analyst estimates of $253.59 million. During the same quarter in the previous year, the company earned ($0.06) EPS. MultiPlan updated its FY 2024 guidance to EPS.

MultiPlan Price Performance

Shares of NYSE:MPLN traded down $0.02 during trading on Friday, hitting $0.34. 952,633 shares of the stock were exchanged, compared to its average volume of 1,347,232. The company has a fifty day moving average price of $0.42 and a two-hundred day moving average price of $0.71. The company has a market cap of $220.87 million, a PE ratio of -0.35 and a beta of 0.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 3.85. MultiPlan has a 12-month low of $0.26 and a 12-month high of $2.16.

Insider Transactions at MultiPlan

In other news, Director Anthony Colaluca, Jr. purchased 160,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were acquired at an average price of $0.60 per share, with a total value of $96,000.00. Following the purchase, the director now directly owns 220,000 shares of the company’s stock, valued at $132,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler assumed coverage on MultiPlan in a report on Wednesday, June 26th. They issued a “neutral” rating and a $2.00 price objective on the stock.

MultiPlan Company Profile

MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services that reduce medical costs, through data-driven algorithms and insights that detect claims over-charges and negotiate or recommend reimbursement; and network-based services that provide contracted discounts with healthcare providers, as well as outsourced network development and management services.