Insider Selling: MedAssets CAO Sells 2,000 Shares of Stock (MDAS)
MedAssets (NASDAQ:MDAS) CAO Lance Culbreth unloaded 2,000 shares of MedAssets stock on the open market in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $26.45, for a total transaction of $52,900.00. Following the sale, the chief accounting officer now directly owns 1,466 shares in the company, valued at approximately $38,776. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of MedAssets (NASDAQ:MDAS) traded up 1.28% during mid-day trading on Wednesday, hitting $26.16. 274,149 shares of the company’s stock traded hands. MedAssets has a 1-year low of $15.40 and a 1-year 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 $1.601 billion and a price-to-earnings ratio of 385.52.
MedAssets (NASDAQ:MDAS) last announced its earnings results on Wednesday, July 31st. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that MedAssets will post $1.32 EPS for the current fiscal year.
A number of analysts have recently weighed in on MDAS shares. Analysts at Robert W. Baird raised their price target on shares of MedAssets from $27.00 to $28.00 in a research note to investors on Thursday, October 17th. They now have an “outperform” rating on the stock. Separately, analysts at ISI Group raised their price target on shares of MedAssets from $23.50 to $28.00 in a research note to investors on Monday, October 14th. They now have a “neutral” rating on the stock. Finally, analysts at Raymond James downgraded shares of MedAssets from a “strong-buy” rating to a “market perform” rating in a research note to investors on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. MedAssets presently has a consensus rating of “Buy” and a consensus target price of $26.83.
MedAssets, Inc (NASDAQ:MDAS) provides technology-enabled products and services.
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