Waterdrop’s (NYSE:WDH) quiet period will end on Wednesday, June 16th. Waterdrop had issued 30,000,000 shares in its public offering on May 7th. The total size of the offering was $360,000,000 based on an initial share price of $12.00. During Waterdrop’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several equities analysts have commented on WDH shares. CLSA initiated coverage on shares of Waterdrop in a research note on Tuesday, June 1st. They set a “buy” rating on the stock. Morgan Stanley initiated coverage on shares of Waterdrop in a research report on Wednesday, June 2nd. They set an “overweight” rating and a $11.80 price objective for the company. The Goldman Sachs Group started coverage on shares of Waterdrop in a research report on Tuesday, June 1st. They set a “buy” rating and a $11.00 price objective for the company. Finally, Bank of America started coverage on shares of Waterdrop in a report on Tuesday, June 1st. They issued a “buy” rating and a $11.50 target price for the company.
NYSE WDH opened at $8.11 on Friday. Waterdrop has a 1-year low of $6.85 and a 1-year high of $11.77.
Waterdrop Inc operates technology platforms for insurance and healthcare service markets. It operates independent third-party insurance platform for health and life insurance; and medical crowdfunding and mutual aid platforms, as well as provides insurance brokerage services. The company was founded in 2013 and is headquartered in Beijing, the People's Republic of China.
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