CareMax (NASDAQ:CMAX) Stock Rating Lowered by UBS Group

UBS Group cut shares of CareMax (NASDAQ:CMAX) from a buy rating to a neutral rating in a report released on Friday, Marketbeat reports. The firm currently has $1.00 price objective on the stock, down from their previous price objective of $5.00.

Separately, Piper Sandler cut CareMax from an overweight rating to a neutral rating and lowered their target price for the stock from $3.00 to $2.00 in a report on Friday, November 10th.

CareMax Price Performance

CMAX stock opened at $0.96 on Friday. The stock has a 50-day moving average price of $2.02 and a two-hundred day moving average price of $2.48. The stock has a market cap of $107.61 million, a PE ratio of -0.52 and a beta of 1.68. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.58. CareMax has a 1 year low of $0.85 and a 1 year high of $4.89.

Hedge Funds Weigh In On CareMax

Hedge funds have recently modified their holdings of the stock. Eminence Capital LP lifted its stake in CareMax by 11.3% in the 3rd quarter. Eminence Capital LP now owns 9,885,113 shares of the company’s stock valued at $20,956,000 after purchasing an additional 1,005,027 shares during the last quarter. BlackRock Inc. increased its stake in CareMax by 22.6% in the second quarter. BlackRock Inc. now owns 4,863,695 shares of the company’s stock valued at $15,126,000 after acquiring an additional 897,431 shares during the last quarter. Perceptive Advisors LLC increased its stake in CareMax by 6.7% in the second quarter. Perceptive Advisors LLC now owns 3,817,404 shares of the company’s stock valued at $11,872,000 after acquiring an additional 241,364 shares during the last quarter. Vanguard Group Inc. increased its stake in CareMax by 3.9% in the third quarter. Vanguard Group Inc. now owns 3,196,533 shares of the company’s stock valued at $22,663,000 after acquiring an additional 118,909 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of CareMax by 3.2% during the second quarter. Millennium Management LLC now owns 2,513,711 shares of the company’s stock worth $9,125,000 after buying an additional 77,015 shares during the last quarter. Institutional investors own 65.94% of the company’s stock.

About CareMax

CareMax, Inc provides chronic disease management 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; and services to children and adults through Medicaid programs, as well as through commercial insurance plans.