Short Interest in MedAssets Decreases By 25.5% (MDAS)
MedAssets (NASDAQ:MDAS) was the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 2,883,851 shares, a decrease of 25.5% from the July 31st total of 3,868,865 shares, Analyst Ratings Network.com reports. Based on an average trading volume of 720,819 shares, the days-to-cover ratio is presently 4.0 days. Currently, 4.9% of the company’s shares are sold short.
A number of analysts have recently weighed in on MDAS shares. Analysts at Leerink Swann upgraded shares of MedAssets from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 19th. They now have a $26.00 price target on the stock. 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. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.68.
MedAssets (NASDAQ:MDAS) opened at 22.99 on Friday. MedAssets has a 52-week low of $19.38 and a 52-week high of $26.58. The stock’s 50-day moving average is $22.63 and its 200-day moving average is $23.28. The company has a market cap of $1.382 billion and a P/E ratio of 49.15.
MedAssets (NASDAQ:MDAS) last announced its 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. The company’s quarterly revenue was up 2.7% on a year-over-year basis. 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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