The shares of Healthways, Inc.(NASDAQ:HWAY) posting its biggest intraday gain for this year and popped up over 18% to new 9-month high and was recently trading at $10.61. Today’s buying has been propelled by strong earnings by the company, which topped analysts’ estimates.
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The company reported that net income during the quarter fell to $5.1 million, or 15 cents a share, from a year ago profit of $5.8 million, or 17 cents a share. Revenue grew slightly to $170.2 million, from $169.6 million a year ago. Analysts were estimating the company to report 7 cents a share.
Moreover, the company maintained its 2012 revenues guidance range of $665 million to $705 million. This guidance includes revenues from domestic operations in a range of $638 million to $670 million and from international revenues in a range of $27 million to $35 million. The company continues to estimate to earn $0.38 to $0.50, which includes the previously announced additional expense impact of $0.04 per diluted share related to the refinancing of the Company’s senior credit facilities in June.
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Moreover, analyst at Stifel Nicolaus lifted its price target on the stock by $3 to $13. After today’s gain, shares of HWAY are up 43% year to day.
Healthways, Inc. provides solutions to help people improve physical, emotional and social well-being. The Company provides specific and personalized interventions for each individual in a population, irrespective of health status, age or payor. The Company's evidence-based health, prevention and well-being services are made available to consumers to consumers via phone, mobile devices, direct mail, the Internet, face-to-face consultations and venue-based interactions.