MedAssets Lowered to Neutral at Lazard Capital Markets (MDAS)
MedAssets (NASDAQ:MDAS) was downgraded by research analysts at Lazard Capital Markets from a “buy” rating to a “neutral” rating in a report released on Monday, TheFlyOnTheWall.com reports. They currently have a $25.00 price target on the stock. Lazard Capital Markets’ price objective indicates a potential upside of 2.08% from the stock’s previous close. The analysts noted that the move was a valuation call.
MedAssets (NASDAQ:MDAS) traded down 1.22% during mid-day trading on Monday, hitting $24.19. 255,463 shares of the company’s stock traded hands. MedAssets has a 52-week low of $15.40 and a 52-week high of $24.52. The stock has a 50-day moving average of $23.14 and a 200-day moving average of $19.62. The company has a market cap of $1.480 billion and a P/E ratio of 365.52.
MedAssets (NASDAQ:MDAS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $170.70 million for the quarter, compared to the consensus estimate of $167.64 million. During the same quarter last year, the company posted $0.28 earnings per share. MedAssets’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that MedAssets will post $1.31 EPS for the current fiscal year.
A number of other firms have also recently commented on MDAS. Analysts at Zacks downgraded shares of MedAssets (NASDAQ:MDAS) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, August 19th. They now have a $25.80 price target on the stock. Separately, analysts at KeyCorp initiated coverage on shares of MedAssets (NASDAQ:MDAS) in a research note to investors on Tuesday, August 13th. They set a “hold” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of MedAssets (NASDAQ:MDAS) from $22.00 to $27.00 in a research note to investors on Tuesday, August 6th. They now have a “strong-buy” rating on the stock.
Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. MedAssets currently has a consensus rating of “Buy” and a consensus price target of $26.29.
In other MedAssets news, CAO Lance M. Culbreth sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $24.23, for a total value of $96,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
MedAssets, Inc (NASDAQ:MDAS) provides technology-enabled products and services.
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