Insider Selling: MedAssets Director Sells 1,000 Shares of Stock (MDAS)
MedAssets (NASDAQ:MDAS) Director Terrence J. Mulligan unloaded 1,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $21.97, for a total transaction of $21,970.00. Following the sale, the director now directly owns 927 shares in the company, valued at approximately $20,366. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of MedAssets (NASDAQ:MDAS) traded down 2.29% on Friday, hitting $20.88. The stock had a trading volume of 242,204 shares. MedAssets has a 1-year low of $19.38 and a 1-year high of $26.58. The stock has a 50-day moving average of $22.78 and a 200-day moving average of $23.1. The company has a market cap of $1.255 billion and a P/E ratio of 45.47. MedAssets also saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 3,868,865 shares, a growth of 62.0% from the July 15th total of 2,388,708 shares. Based on an average daily volume of 1,564,663 shares, the short-interest ratio is currently 2.5 days. Approximately 6.6% of the company’s stock are sold short.
MedAssets (NASDAQ:MDAS) last announced its earnings results on Wednesday, July 30th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict that MedAssets will post $1.34 earnings per share for the current fiscal year.
A number of research firms have recently commented on MDAS. 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 analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. MedAssets currently has an average rating of “Hold” and a consensus price target of $25.66.
MedAssets, Inc (NASDAQ:MDAS) provides technology-enabled products and services.
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