MedAvail (NASDAQ:MDVL) Downgraded to “Sell” at Zacks Investment Research

MedAvail (NASDAQ:MDVL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “MedAvail Holding Inc. is a technology-enabled pharmacy organization. It engages in providing turnkey in-clinic pharmacy services through its proprietary robotic dispensing platform, the MedAvail MedCenter and home delivery operations, to Medicare clinics. MedAvail Holding Inc., formerly known as MYOS RENS Technology Inc., is based in MISSISSAUGA, Ontario. “

Other research analysts also recently issued research reports about the company. Cowen reduced their target price on MedAvail from $20.00 to $9.50 and set an “outperform” rating on the stock in a report on Monday, August 30th. Lake Street Capital downgraded MedAvail from a “buy” rating to an “in-line” rating and cut their price target for the stock from $18.00 to $8.00 in a research note on Thursday, August 12th.

Shares of NASDAQ:MDVL opened at $1.92 on Wednesday. MedAvail has a 1 year low of $1.76 and a 1 year high of $20.79. The company has a market cap of $63.07 million, a PE ratio of -1.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.64 and a quick ratio of 4.17. The stock’s 50-day moving average is $2.67 and its 200 day moving average is $6.90.

MedAvail (NASDAQ:MDVL) last posted its earnings results on Monday, November 8th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). MedAvail had a negative return on equity of 87.61% and a negative net margin of 241.08%. The firm had revenue of $5.79 million for the quarter. During the same quarter last year, the business earned ($0.84) EPS. Analysts expect that MedAvail will post -1.26 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC lifted its position in MedAvail by 35.3% in the 1st quarter. Squarepoint Ops LLC now owns 14,372 shares of the company’s stock valued at $201,000 after acquiring an additional 3,749 shares in the last quarter. JPMorgan Chase & Co. bought a new position in MedAvail in the 2nd quarter valued at approximately $55,000. Morgan Stanley bought a new position in MedAvail in the 1st quarter valued at approximately $63,000. Deutsche Bank AG bought a new position in MedAvail in the 2nd quarter valued at approximately $85,000. Finally, New York State Common Retirement Fund bought a new position in MedAvail in the 2nd quarter valued at approximately $123,000. Institutional investors own 86.88% of the company’s stock.

About MedAvail

MedAvail Holdings, Inc is a technology-enabled pharmacy company. It provides turnkey in-clinic pharmacy services through its proprietary robotic dispensing platform, the MedAvail MedCenter, and home delivery operations, to Medicare clinics. The firm helps patients to optimize drug adherence, resulting in better health outcomes.

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