UBS Group Cuts CareMax (NASDAQ:CMAX) Price Target to $12.00

CareMax (NASDAQ:CMAX – Get Rating) had its price target reduced by investment analysts at UBS Group to $12.00 in a research report issued on Tuesday, Stock Target Advisor reports. The firm currently has a “na” rating on the stock. UBS Group’s price objective points to a potential upside of 153.70% from the company’s current price.

A number of other equities analysts have also weighed in on CMAX. Zacks Investment Research lowered shares of CareMax from a “buy” rating to a “hold” rating in a report on Monday, January 17th. Cowen decreased their price target on CareMax from $11.00 to $8.00 in a research note on Wednesday, May 11th. Finally, Cowen decreased their price target on CareMax from $11.00 to $8.00 in a research note on Wednesday, May 11th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, CareMax has an average rating of “Buy” and an average target price of $10.88.

Shares of NASDAQ CMAX traded up $0.46 on Tuesday, reaching $4.73. 14,085 shares of the company’s stock traded hands, compared to its average volume of 423,532. CareMax has a 12 month low of $3.53 and a 12 month high of $16.00. The business’s 50 day simple moving average is $7.12 and its two-hundred day simple moving average is $7.05. The company has a market cap of $413.26 million, a price-to-earnings ratio of -9.15 and a beta of 1.35. The company has a quick ratio of 3.80, a current ratio of 3.83 and a debt-to-equity ratio of 0.22.

CareMax (NASDAQ:CMAX – Get Rating) last announced its earnings results 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. CareMax had a negative net margin of 7.55% and a negative return on equity of 6.46%. The business had revenue of $118.31 million during the quarter, compared to the consensus estimate of $119.36 million.

A number of institutional investors have recently bought and sold shares of CMAX. Marshall Wace LLP purchased a new stake in CareMax during the fourth quarter valued at $38,000. Monolith Advisors purchased a new stake in CareMax during the fourth quarter valued at $38,000. Citigroup Inc. purchased a new stake in CareMax during the third quarter valued at $63,000. Penserra Capital Management LLC increased its position in CareMax by 41.4% during the third quarter. Penserra Capital Management LLC now owns 6,691 shares of the company’s stock valued at $64,000 after acquiring an additional 1,959 shares during the last quarter. Finally, Morgan Stanley increased its position in CareMax by 444.5% during the third quarter. Morgan Stanley now owns 6,735 shares of the company’s stock valued at $65,000 after acquiring an additional 5,498 shares during the last quarter. Institutional investors 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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