MedAssets Sees Large Increase in Short Interest (MDAS)
MedAssets (NASDAQ:MDAS) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 3,868,865 shares, an increase of 62.0% from the July 15th total of 2,388,708 shares, AR Network reports. Based on an average daily volume of 1,564,663 shares, the days-to-cover ratio is presently 2.5 days. Currently, 6.6% of the shares of the company are sold short.
A number of analysts have recently weighed in on MDAS shares. Analysts at Raymond James reiterated an “outperform” rating on shares of MedAssets in a research note on Thursday, July 31st. They now have a $27.50 price target on the stock, up previously from $25.00. Separately, analysts at Citigroup Inc. downgraded shares of MedAssets from a “buy” rating to a “neutral” rating in a research note on Thursday, May 29th. They now have a $26.00 price target on the stock, down previously from $28.00. Finally, analysts at Bank of America downgraded shares of MedAssets from a “buy” rating to a “neutral” rating in a research note on Thursday, May 22nd. They now have a $24.00 price target on the stock, down previously from $25.00. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. MedAssets presently has a consensus rating of “Hold” and a consensus target price of $25.66.
Shares of MedAssets (NASDAQ:MDAS) opened at 21.70 on Tuesday. MedAssets has a 52-week low of $19.38 and a 52-week high of $26.58. The stock has a 50-day moving average of $22.88 and a 200-day moving average of $23.18. The company has a market cap of $1.304 billion and a price-to-earnings ratio of 45.98.
MedAssets (NASDAQ:MDAS) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.01. The company had revenue of $175.42 million for the quarter, compared to the consensus estimate of $175.70 million. During the same quarter last year, the company posted $0.30 earnings per share. MedAssets’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that MedAssets will post $1.35 earnings per share for the current fiscal year.
MedAssets, Inc (NASDAQ:MDAS) provides technology-enabled products and services.
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