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JPMorgan Chase & Co. initiated coverage on shares of MedAssets (NASDAQ:MDAS) in a research note issued on Monday, reports. The firm set a “neutral” rating and a $23.00 price target on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 8.03% from the company’s current price.

The analysts wrote, “While we like the company’s positioning in both the revenue cycle and group purchasing markets, we are concerned about the impact from utilization trends on the SCM (GPO) business and the volatility experienced in the RCM business. MedAssets has a presence in ~4,200 hospitals and 122,000 non-acute care providers across the US; yet, importantly, the customer overlap of RCM and SCM businesses is just ~1,400 hospital customers, and as such there remains an opportunity for the company to expand both within and outside of its customer base.”

MedAssets (NASDAQ:MDAS) traded down 1.93% on Monday, hitting $20.88. 138,739 shares of the company’s stock traded hands. MedAssets has a 52-week low of $16.03 and a 52-week high of $26.58. The stock’s 50-day moving average is $22.75 and its 200-day moving average is $21.69. The company has a market cap of $1.292 billion and a P/E ratio of 253.45.

MedAssets (NASDAQ:MDAS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.01. The company had revenue of $166.40 million for the quarter, compared to the consensus estimate of $166.78 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, analysts predict that MedAssets will post $1.30 earnings per share for the current fiscal year.

In other MedAssets news, Director John Rutherford sold 13,000 shares of MedAssets stock on the open market in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $21.41, for a total value of $278,330.00. Following the transaction, the director now directly owns 5,944 shares in the company, valued at approximately $127,261. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at KeyCorp upgraded shares of MedAssets from a “hold” rating to a “buy” rating in a research note to investors on Monday, November 25th. They now have a $25.00 price target on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of MedAssets in a research note to investors on Wednesday, November 20th. They set a “buy” rating and a $27.00 price target on the stock. Finally, analysts at FBR Capital Markets cut their price target on shares of MedAssets from $24.00 to $22.00 in a research note to investors on Tuesday, November 19th. They now have a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. MedAssets presently has an average rating of “Buy” and a consensus price target of $26.10.

MedAssets, Inc (NASDAQ:MDAS) provides technology-enabled products and services.

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