Auriga Maintains a 'Buy' on MedAssets (MDAS); Lowering Estimates and Price Target

Auriga maintains a 'Buy' on MedAssets (NASDAQ: MDAS), price target lowered from $21 to $19.

Auriga analyst says, "We are trimming our FY12 expectations for Spend Management revenue by $3 million, to $392 million from $395 million previously. At MDAS' Analyst Day earlier this month, CEO John Bardis noted that hospital spending is expected to rise at a CAGR in the 6% range by 2020, to $800 billion...Based on our $3 million haircut to the Spend Management segment, our new FY12 EPS and revenue estimates are $1.12 on $637 million, down from $1.14 on $640 million. Our adjusted EBITDA estimate of $220 million is up 17% over our FY11 forecast."

For more ratings news on MedAssets click here and for the rating history of MedAssets click here.

Shares of MedAssets closed at $10.87 yesterday.

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