Waterdrop (NYSE:WDH) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Waterdrop (NYSE:WDH) from a hold rating to a buy rating in a report issued on Saturday morning.

Waterdrop Price Performance

Shares of NYSE:WDH opened at $1.63 on Friday. The business’s fifty day moving average price is $1.71 and its two-hundred day moving average price is $1.75. Waterdrop has a fifty-two week low of $1.24 and a fifty-two week high of $2.18. The stock has a market capitalization of $589.03 million, a price-to-earnings ratio of 7.74 and a beta of -0.16.

Waterdrop (NYSE:WDH) last announced its quarterly earnings results on Thursday, March 26th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Waterdrop had a return on equity of 11.34% and a net margin of 14.28%.The firm had revenue of $201.71 million for the quarter, compared to analysts’ expectations of $117.69 million.

Waterdrop Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, April 24th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a yield of 356.0%. Waterdrop’s payout ratio is currently 23.81%.

Hedge Funds Weigh In On Waterdrop

Institutional investors and hedge funds have recently bought and sold shares of the business. SmartHarvest Portfolios LLC acquired a new position in Waterdrop in the fourth quarter worth $86,000. E Fund Management Co. Ltd. acquired a new position in Waterdrop in the second quarter worth $372,000. Invesco Ltd. acquired a new position in Waterdrop in the second quarter worth $156,000. NewEdge Advisors LLC acquired a new position in Waterdrop in the third quarter worth $80,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Waterdrop by 184.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 39,372 shares of the company’s stock worth $74,000 after purchasing an additional 25,510 shares in the last quarter. Institutional investors and hedge funds own 1.96% of the company’s stock.

Waterdrop Company Profile

Waterdrop Inc (NYSE: WDH) is a China-based insurtech and health protection platform that leverages digital technology to connect consumers with insurance and healthcare services. Through its mobile app and online marketplace, Waterdrop offers a range of microinsurance and critical illness products designed to provide affordable coverage for everyday risks. The platform also features crowdfunding channels that enable users to contribute to medical expense relief for individuals facing serious health challenges.

Since its founding in 2016 and headquartered in Shanghai, Waterdrop has grown its partner network to include leading insurance carriers and medical institutions across mainland China.