JPMorgan Chase & Co. initiated coverage on shares of MedAssets (NASDAQ:MDAS) in a research note released on Monday morning, TheFlyOnTheWall.com reports. The firm issued a neutral rating and a $23.00 target price on the stock.
“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.,” the firm’s analyst wrote.
A number of other firms have also recently commented on MDAS. 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $26.10.
Shares of MedAssets (NASDAQ:MDAS) opened at 21.01 on Monday. 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 $22.61 and its 200-day moving average is $21.78. The company has a market cap of $1.300 billion and a price-to-earnings ratio of 250.12.
MedAssets (NASDAQ:MDAS) last released its earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that MedAssets will post $1.30 EPS 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 transaction of $278,330.00. Following the transaction, the director now directly owns 5,944 shares in the company, valued at approximately $127,261. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
MedAssets, Inc (NASDAQ:MDAS) provides technology-enabled products and services.
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