Nutex Health Inc. (NASDAQ:NUTX) experienced a notable decline in its share price on Tuesday, falling by 6.6%. The stock hit a low of $95.00 before closing at $97.08. On this day, a total of 101,586 shares changed hands, reflecting a 30% drop in trading volume compared to the average of 145,054 shares.
Analysts have recently revised their ratings on Nutex Health, contributing to the stock’s volatility. On August 26, 2023, Maxim Group set a price target of $205.00 along with a “buy” rating. Conversely, Wall Street Zen downgraded the stock from a “strong-buy” to a “buy” rating on October 18, 2023. Additionally, Weiss Ratings maintained a “hold (C-)” rating on October 8, 2023. Currently, two analysts rate Nutex Health as a buy, while one has assigned a hold rating. According to data from MarketBeat.com, the consensus rating for the stock stands at “Moderate Buy,” with an average target price of $252.50.
Institutional Investors Adjust Positions in Nutex Health
Recent activity among institutional investors has also influenced Nutex Health’s stock performance. PharVision Advisers LLC acquired a new position in the company, investing approximately $420,000 during the third quarter. Quarry LP followed suit with a new stake valued at around $610,000.
Millennium Management LLC has significantly increased its holdings by 191.1%, now owning 93,396 shares worth $9.65 million after purchasing an additional 61,308 shares. Similarly, Bank of America Corp DE raised its stake by 197.3%, now holding 11,045 shares valued at $1.14 million. Topline Capital Management LLC also boosted its position by 80.0%, acquiring an additional 247,436 shares and now owning 556,567 shares valued at $57.51 million. Currently, institutional investors and hedge funds collectively own 5.32% of Nutex Health’s stock.
Nutex Health’s Business Overview
Nutex Health operates as a physician-led healthcare services and operations company, structured into three segments: Hospital, Population Health Management (PHM), and Real Estate. The PHM segment focuses on establishing independent physician associations and provides a cloud-based platform designed for healthcare organizations to enhance value-based care and population health management.
As the market reacts to these recent developments, investors and analysts will continue to monitor Nutex Health’s performance closely, given its potential in the evolving healthcare industry. The company’s ability to navigate analyst expectations and institutional investments will be pivotal in shaping its future trajectory.
