Greenway Medical Technologies Stock Rating Lowered by William Blair (GWAY)
Greenway Medical Technologies (NASDAQ:GWAY) was downgraded by equities research analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
The analysts wrote, “Monday, September 23, after the markets closed, Greenway Medical Technologies announced it would be acquired by Vista Equity Partners (which owns privately held HCIT provider Vitera Healthcare Solutions) for $20.35 in cash per share, in a $644 million cash transaction. The transaction represents a 62% premium to Greenway’s 90-day average (volume-weighted) share price and a 20% premium to the stock’s closing price the day prior to the transaction announcement. It also represents a more than 100% increase since the company’s $10 per share initial public offering in February 2012.”
Greenway Medical Technologies (NASDAQ:GWAY) traded up 18.13% during mid-day trading on Tuesday, hitting $20.235. The stock had a trading volume of 5,577,942 shares. Greenway Medical Technologies has a 52 week low of $10.30 and a 52 week high of $19.65. The stock has a 50-day moving average of $14.10 and a 200-day moving average of $13.35. The company’s market cap is $603.2 million.
Greenway Medical Technologies (NASDAQ:GWAY) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.02) by $0.06. The company had revenue of $35.50 million for the quarter, compared to the consensus estimate of $34.04 million. During the same quarter last year, the company posted $0.10 earnings per share. Greenway Medical Technologies’s revenue was down 2.3% compared to the same quarter last year. Analysts expect that Greenway Medical Technologies will post $-0.03 EPS for the current fiscal year.
A number of other firms have also recently commented on GWAY. Analysts at B. Riley raised their price target on shares of Greenway Medical Technologies (NASDAQ:GWAY) to $19.00 in a research note to investors on Tuesday, September 17th. They now have a “buy” rating on the stock. Separately, analysts at Sidoti downgraded shares of Greenway Medical Technologies (NASDAQ:GWAY) from a “buy” rating to a “neutral” rating in a research note to investors on Friday, September 13th. Finally, analysts at Stephens initiated coverage on shares of Greenway Medical Technologies (NASDAQ:GWAY) in a research note to investors on Tuesday, September 10th. They set an “equal weight” rating on the stock.
Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $13.30.
Greenway Medical Technologies, Inc develops, markets and sells a suite of healthcare technology solutions, including practice management and electronic medical record software applications for physician practices, clinics and other providers in ambulatory settings.
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