Citigroup slashes price target on MultiPlan Corporation [MPLN] – find out why.


MultiPlan Corporation [NYSE: MPLN] jumped around 0.03 points on Thursday, while shares priced at $4.18 at the close of the session, up 0.72%. The company report on December 15, 2021 that MultiPlan’s End-to-End Surprise Billing Service Gaining Traction.

New solutions and its NSA Knowledge Hub address entire lifecycle of a surprise bill for healthcare payors to achieve compliance with No Surprises Act.

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MultiPlan Corporation (NYSE:MPLN), a leading provider of data analytics and technology-enabled cost management, and payment and revenue integrity solutions to the U.S. healthcare industry, announces its new end-to-end Surprise Billing Service to help healthcare payors comply with the soon to be implemented No Surprises Act. With new requirements set to take effect on January 1, 2022, MultiPlan is prepared to help its customers navigate new regulations with the launch of its No Surprises Act Knowledge Hub, a comprehensive resource center that offers the latest NSA developments and answers frequently asked questions.

MultiPlan Corporation stock is now -5.64% down from its year-to-date (YTD) trading value. MPLN Stock saw the intraday high of $4.32 and lowest of $4.015 per share. The company’s 52-week high price is 9.69, which means current price is +4.11% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 5.27M shares, MPLN reached a trading volume of 3192011 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about MultiPlan Corporation [MPLN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MPLN shares is $8.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MPLN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for MultiPlan Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 04, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on April 07, 2021, representing the official price target for MultiPlan Corporation stock. Previously, the target price had yet another raise to $7, while Barclays analysts kept a Equal Weight rating on MPLN stock.

The Average True Range (ATR) for MultiPlan Corporation is set at 0.27, with the Price to Sales ratio for MPLN stock in the period of the last 12 months amounting to 1.48. The Price to Book ratio for the last quarter was 1.16, with the Price to Cash per share for the same quarter was set at 0.36. Price to Free Cash Flow for MPLN in the course of the last twelve months was 7.68 with Quick ratio for the last quarter at 1.80.

How has MPLN stock performed recently?

MultiPlan Corporation [MPLN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.02. With this latest performance, MPLN shares dropped by -7.52% in over the last four-week period, additionally sinking by -42.02% over the last 6 months – not to mention a drop of -47.29% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MPLN stock in for the last two-week period is set at 46.25, with the RSI for the last a single of trading hit 43.86, and the three-weeks RSI is set at 46.49 for MultiPlan Corporation [MPLN]. The present Moving Average for the last 50 days of trading for this stock 4.24, while it was recorded at 4.30 for the last single week of trading, and 6.26 for the last 200 days.

MultiPlan Corporation [MPLN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and MultiPlan Corporation [MPLN] shares currently have an operating margin of -14.06 and a Gross Margin at +23.87. MultiPlan Corporation’s Net Margin is presently recorded at -55.51.

Return on Total Capital for MPLN is now -1.81, given the latest momentum, and Return on Invested Capital for the company is -7.15. Return on Equity for this stock declined to -22.92, with Return on Assets sitting at -6.20. When it comes to the capital structure of this company, MultiPlan Corporation [MPLN] has a Total Debt to Total Equity ratio set at 180.33. Additionally, MPLN Total Debt to Total Capital is recorded at 64.33, with Total Debt to Total Assets ending up at 55.22. Long-Term Debt to Equity for the company is recorded at 180.07, with the Long-Term Debt to Total Capital now at 64.24.

Reflecting on the efficiency of the workforce at the company, MultiPlan Corporation [MPLN] managed to generate an average of -$260,282 per employee. Receivables Turnover for the company is 13.37 with a Total Asset Turnover recorded at a value of 0.11.MultiPlan Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.

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Insider trade positions for MultiPlan Corporation [MPLN]

There are presently around $2,245 million, or 92.80% of MPLN stock, in the hands of institutional investors. The top three institutional holders of MPLN stocks are: H&F CORPORATE INVESTORS VIII, LTD. with ownership of 215,514,491, which is approximately 0% of the company’s market cap and around 0.90% of the total institutional ownership; PUBLIC INVESTMENT FUND, holding 51,250,000 shares of the stock with an approximate value of $212.69 million in MPLN stocks shares; and LEONARD GREEN & PARTNERS, L.P., currently with $159.57 million in MPLN stock with ownership of nearly 0% of the company’s market capitalization.

Positions in MultiPlan Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 61 institutional holders increased their position in MultiPlan Corporation [NYSE:MPLN] by around 13,588,643 shares. Additionally, 65 investors decreased positions by around 35,601,492 shares, while 17 investors held positions by with 491,687,151 shares. The mentioned changes placed institutional holdings at 540,877,286 shares, according to the latest SEC report filing. MPLN stock had 35 new institutional investments in for a total of 8,686,728 shares, while 18 institutional investors sold positions of 3,830,981 shares during the same period.