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

CareMax (NASDAQ:CMAX – Get Rating) had its price objective cut by investment analysts at Cowen from $11.00 to $8.00 in a note issued to investors on Wednesday, The Fly reports. Cowen’s price objective suggests a potential upside of 102.53% from the company’s current price.

Separately, Zacks Investment Research cut CareMax from a “buy” rating to a “hold” rating in a research report on Monday, January 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CareMax has a consensus rating of “Buy” and a consensus target price of $11.85.

NASDAQ CMAX opened at $3.95 on Wednesday. The company’s 50-day moving average is $7.28. CareMax has a fifty-two week low of $3.58 and a fifty-two week high of $16.00. The company has a quick ratio of 4.90, a current ratio of 4.92 and a debt-to-equity ratio of 0.22.

CareMax (NASDAQ:CMAX – Get Rating) last released its quarterly earnings data on Tuesday, March 8th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The company had revenue of $118.31 million for the quarter, compared to analysts’ expectations of $119.36 million.

A number of hedge funds have recently bought and sold shares of the stock. Sciencast Management LP acquired a new stake in CareMax in the 1st quarter worth about $228,000. Monolith Advisors acquired a new stake in CareMax in the 4th quarter worth about $38,000. Susquehanna International Group LLP acquired a new stake in CareMax in the 4th quarter worth about $589,000. Marshall Wace LLP acquired a new stake in CareMax in the 4th quarter worth about $38,000. Finally, Millennium Management LLC boosted its holdings in CareMax by 7.4% in the 4th quarter. Millennium Management LLC now owns 1,627,919 shares of the company’s stock worth $12,502,000 after buying an additional 112,182 shares during the last quarter. Institutional investors own 69.18% of the company’s stock.

CareMax Company Profile (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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