CareMax (NASDAQ:CMAX) Stock Rating Lowered by Zacks Investment Research

CareMax (NASDAQ:CMAX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “CareMax Inc. is a technology-enabled care platform providing value-based care and chronic disease management to seniors. The company operates wholly-owned medical centers which offer a comprehensive suite of healthcare and social services and proprietary software and services platform which provides data, analytics and rules-based decision tools/workflows for physicians. CareMax Inc., formerly known as Deerfield Healthcare Technology Acquisitions Corp., is based in NEW YORK. “

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group began coverage on shares of CareMax in a report on Wednesday, October 20th. They issued a “buy” rating and a $15.00 price objective on the stock. Cowen assumed coverage on shares of CareMax in a research note on Thursday, September 9th. They set an “outperform” rating and a $14.00 target price on the stock. Finally, Piper Sandler upgraded CareMax from a “neutral” rating to an “overweight” rating and set a $14.00 price target on the stock in a research report on Monday, September 13th.

Shares of NASDAQ:CMAX traded up $0.16 on Thursday, reaching $7.26. 194,355 shares of the company’s stock were exchanged, compared to its average volume of 268,735. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.68 and a current ratio of 5.70. The business has a 50-day simple moving average of $8.91. CareMax has a fifty-two week low of $6.53 and a fifty-two week high of $18.42.

CareMax (NASDAQ:CMAX) last released its quarterly earnings data on Monday, November 15th. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.30. Sell-side analysts expect that CareMax will post -0.34 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. CVI Holdings LLC acquired a new position in shares of CareMax in the 2nd quarter worth $3,870,000. Maven Securities LTD purchased a new position in shares of CareMax in the second quarter worth approximately $3,225,000. Magnetar Financial LLC purchased a new position in shares of CareMax in the second quarter worth approximately $625,718,000. Shay Capital LLC purchased a new position in shares of CareMax in the second quarter worth approximately $1,613,000. Finally, Maverick Capital Ltd. purchased a new position in shares of CareMax in the second quarter worth approximately $38,114,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

CareMax Company Profile

CareMax Medical Group, LLC operates as a health care organization that offers medical services through physicians and health care professionals. The company offers primary care, specialty care, telemedicine, health and wellness, optometry, dental, and transportation services. CareMax Medical Group, LLC was founded in 2011 and is based in Miami, Florida.

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