Cowen Cuts CareMax (NASDAQ:CMAX) Price Target to $8.00

CareMax (NASDAQ:CMAXGet Rating) had its price target cut by equities research analysts at Cowen from $11.00 to $8.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. Cowen’s target price would indicate a potential upside of 103.56% from the company’s previous close.

CMAX has been the topic of several other reports. Zacks Investment Research cut CareMax from a “buy” rating to a “hold” rating in a report on Monday, January 17th. Cowen cut their price target on CareMax from $11.00 to $8.00 in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.21.

Shares of NASDAQ:CMAX traded down $0.02 during mid-day trading on Wednesday, reaching $3.93. The company had a trading volume of 10,344 shares, compared to its average volume of 323,688. The company has a current ratio of 4.92, a quick ratio of 4.90 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $7.28. CareMax has a one year low of $3.58 and a one year high of $16.00.

CareMax (NASDAQ:CMAXGet Rating) last announced its earnings results on Tuesday, March 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. The company had revenue of $118.31 million during the quarter, compared to analysts’ expectations of $119.36 million.

Large investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of CareMax during the fourth quarter worth $38,000. Monolith Advisors acquired a new stake in shares of CareMax during the fourth quarter worth $38,000. Citigroup Inc. acquired a new stake in shares of CareMax during the third quarter worth $63,000. Penserra Capital Management LLC lifted its stake in shares of CareMax by 41.4% during the third quarter. Penserra Capital Management LLC now owns 6,691 shares of the company’s stock worth $64,000 after buying an additional 1,959 shares during the period. Finally, Morgan Stanley lifted its stake in shares of CareMax by 444.5% during the third quarter. Morgan Stanley now owns 6,735 shares of the company’s stock worth $65,000 after buying an additional 5,498 shares during the period. Institutional investors and hedge funds own 69.18% of the company’s stock.

About CareMax (Get Rating)

CareMax, Inc provides medical services through physicians and health care professionals. It offers a suite of health care and social services to its patients, including primary care, specialty care, telemedicine, health and wellness, optometry, dental, pharmacy, and transportation. The company also provides CareOptimize, a proprietary software and services platform that provides data, analytics, and rules-based decision tools/workflows for physicians in the United States.

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