MedAvail Holdings Inc. (MDVL) PT Raised to $5 at Cowen

August 16, 2022 1:37 PM EDT
Get Alerts MDVL Hot Sheet
Price: $0.78 -2.5%

Rating Summary:
    2 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 4 | New: 31
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Cowen analyst Charles Rhyee raised the price target on MedAvail Holdings Inc. (NASDAQ: MDVL) to $5.00 (from $4.00) while maintaining an Outperform rating after raising estimates on "robust" Q2 results.

The analyst commented, "MDVL reports rev of $11.2M (up 178% y/y) above cons./our est of $9.5M/$9.7M. Adj EBITDA of ($10.3M) was below our est. of ($10.9M). We are encouraged by faster deployment of SpotRx MedCenters through 1H22 (16), resulting in higher FY 22 guide of 30-35 (vs 25-30 prior) and expansions in FL/AZ with OSH, CANO, IMA and AdvenHealth. We update our model and raise PT to $5 from $4. Reiterate Outperform."

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