Barclays Maintains an 'Overweight' on MedAssets (MDAS); Hunn Departure another Challenging Update: EPS & PT Lowered
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Price: $31.35 --0%
Rating Summary:
3 Buy, 20 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
Rating Summary:
3 Buy, 20 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
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Barclays maintains an 'Overweight' on MedAssets (NASDAQ: MDAS) price target lowered by $1 to $14.
Barclays analyst says, "While last night's release noting the departure of head of Revenue Cycle Technology (and former CFO) Neil Hunn was not enormously surprising given the recent promotion of Greg Strobel to lead all of Revenue Cycle Management, it comes as another clear disappointment, given our very constructive view of Hunn's skill sets. It also suggests to us continued struggles in the overall RCM space for the company."
"With this update, and given what we believe this suggests about RCM, we are lowering our revenue estimates for that business now to reflect a slight decline in 2011 and 4% growth in 2012. We are also again lowering our EPS expectations, pulling another $.02 out of our 2012 estimate."
For more ratings news on MedAssets click here and for the rating history of MedAssets click here.
Shares of MedAssets closed at $10.76 yesterday.
Barclays analyst says, "While last night's release noting the departure of head of Revenue Cycle Technology (and former CFO) Neil Hunn was not enormously surprising given the recent promotion of Greg Strobel to lead all of Revenue Cycle Management, it comes as another clear disappointment, given our very constructive view of Hunn's skill sets. It also suggests to us continued struggles in the overall RCM space for the company."
"With this update, and given what we believe this suggests about RCM, we are lowering our revenue estimates for that business now to reflect a slight decline in 2011 and 4% growth in 2012. We are also again lowering our EPS expectations, pulling another $.02 out of our 2012 estimate."
For more ratings news on MedAssets click here and for the rating history of MedAssets click here.
Shares of MedAssets closed at $10.76 yesterday.
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