Leerink Swann Downgrades MedAssets (MDAS) to Market Perform; Near-Term Conviction Low
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Price: $31.35 --0%
Rating Summary:
3 Buy, 20 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 20 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Leerink Swann downgraded MedAssets (NASDAQ: MDAS) from Outperform to Market Perform.
Leerink analyst said, "While we believe MedAssets provides hospital clients with some of the highest quality revenue cycle services and software in the industry, we are becoming increasingly cautious on the firm's ability to meet H2:11 earnings and revenue targets. MedAssets also has a relatively high level of debt, and we believe it is becoming increasingly difficult for the firm to grow its revenue cycle top line by ~15% per year, given the size of the business. While we are downgrading the stock to Market Perform, the shares are trading at a historic low multiple, sentiment is very low and we believe the quality of products is high. As a result we are holders of the stock, though we are not buyers."
For more ratings news on MedAssets click here and for the rating history of MedAssets click here.
Shares of MedAssets closed at $13.61 yesterday.
Leerink analyst said, "While we believe MedAssets provides hospital clients with some of the highest quality revenue cycle services and software in the industry, we are becoming increasingly cautious on the firm's ability to meet H2:11 earnings and revenue targets. MedAssets also has a relatively high level of debt, and we believe it is becoming increasingly difficult for the firm to grow its revenue cycle top line by ~15% per year, given the size of the business. While we are downgrading the stock to Market Perform, the shares are trading at a historic low multiple, sentiment is very low and we believe the quality of products is high. As a result we are holders of the stock, though we are not buyers."
For more ratings news on MedAssets click here and for the rating history of MedAssets click here.
Shares of MedAssets closed at $13.61 yesterday.
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