CareMax (NASDAQ:CMAX – Get Rating) had its price target dropped by stock analysts at UBS Group from $10.00 to $6.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price objective would indicate a potential upside of 71.43% from the company's previous close.
Several other analysts have also weighed in on CMAX. Cowen cut their price objective on CareMax to $7.00 in a report on Wednesday, November 16th. Piper Sandler reduced their target price on CareMax from $15.00 to $5.00 in a report on Wednesday, December 14th.
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CareMax Trading Down 5.4 %
Shares of CareMax stock opened at $3.50 on Friday. The company has a quick ratio of 4.78, a current ratio of 4.81 and a debt-to-equity ratio of 0.39. The firm has a market cap of $305.90 million, a price-to-earnings ratio of -5.93 and a beta of 1.73. The business has a fifty day simple moving average of $4.30 and a 200-day simple moving average of $5.70. CareMax has a fifty-two week low of $2.77 and a fifty-two week high of $9.23.
Institutional Investors Weigh In On CareMax
Hedge funds have recently modified their holdings of the stock. Eminence Capital LP raised its position in CareMax by 21.4% during the second quarter. Eminence Capital LP now owns 8,649,869 shares of the company's stock valued at $31,399,000 after buying an additional 1,522,755 shares during the period. BlackRock Inc. raised its position in CareMax by 2.2% during the third quarter. BlackRock Inc. now owns 4,181,003 shares of the company's stock valued at $29,643,000 after buying an additional 90,293 shares during the period. Perceptive Advisors LLC raised its position in CareMax by 13.2% during the third quarter. Perceptive Advisors LLC now owns 3,394,939 shares of the company's stock valued at $24,070,000 after buying an additional 394,939 shares during the period. Vanguard Group Inc. raised its position in CareMax by 3.9% during the third quarter. Vanguard Group Inc. now owns 3,196,533 shares of the company's stock valued at $22,663,000 after buying an additional 118,909 shares during the period. Finally, Millennium Management LLC raised its position in CareMax by 3.2% during the second quarter. Millennium Management LLC now owns 2,513,711 shares of the company's stock valued at $9,125,000 after buying an additional 77,015 shares during the period. 95.38% of the stock is owned by hedge funds and other institutional investors.
About CareMax
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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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