WebMD needs some medicine, quick like, or maybe even mouth to mouth resuscitation, as their stock is falling fast after a their weak sales outlook report. The stock is getting crushed as a matter a fact.
However, the miss wasn’t huge, it’s only a $10 million to $40 million reduction in revenue, but the street as they say didn’t like it at all, especially as the stock market is in a selling mood. The stock right now is sitting at 32.73, getting awfully close to its 52 week low of 31.66.
Shares of WebMD Health Corp. WBMD -29.13% plunged 31% to $31.88 early Monday after the health-information provider lowered its financial outlook for the remainder of 2011. WebMD said it now sees 2011 revenue coming in between $580 million and $600 million, and income from continuing operations of $71 million to $80 million. The company had previously forecasted revenue of $610 million to $640 million, and income from continuing operations of $80 million to $92 million. The company’s quarterly report will be released on Aug. 2, after market close.
WebMD is just a website really, www.WebMD.com, although a very comprehensive one, it’s still just a website. Now, after the stocks’ 31% haircut, I wonder if it’s ripe as a take over target. It’s market cap is under $2 billion. What company out their might want to purchase a portal in the medical field?