TD Cowen Downgrades CareMax (NASDAQ:CMAX) to Market Perform

CareMax (NASDAQ:CMAX – Get Rating) was downgraded by equities research analysts at TD Cowen from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $4.00 price target on the stock, down from their previous price target of $7.00. TD Cowen’s price objective suggests a potential upside of 30.51% from the company’s current price.

Several other research analysts also recently weighed in on CMAX. UBS Group decreased their target price on shares of CareMax from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, January 6th. Piper Sandler decreased their target price on shares of CareMax from $15.00 to $5.00 in a research note on Wednesday, December 14th.

CareMax Stock Down 15.8 %

CMAX opened at $3.07 on Friday. The company has a current ratio of 4.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.39. CareMax has a 52-week low of $2.77 and a 52-week high of $9.10. The company has a 50 day moving average of $4.17 and a two-hundred day moving average of $4.94.

Insider Buying and Selling

In related news, Director Bryan Cho bought 10,000 shares of the stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $3.46 per share, with a total value of $34,600.00. Following the purchase, the director now owns 23,500 shares in the company, valued at $81,310. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 14.93% of the company’s stock.

Hedge Funds Weigh In On CareMax

Several large investors have recently made changes to their positions in CMAX. HBK Sorce Advisory LLC acquired a new position in shares of CareMax in the third quarter worth about $26,000. UBS Group AG acquired a new position in shares of CareMax in the second quarter worth about $32,000. Ensign Peak Advisors Inc acquired a new position in shares of CareMax in the third quarter worth about $50,000. Legal & General Group Plc acquired a new position in shares of CareMax in the second quarter worth about $62,000. Finally, GSA Capital Partners LLP acquired a new position in shares of CareMax in the fourth quarter worth about $69,000. Institutional investors own 95.38% of the company’s stock.

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.