Zacks Investment Research Downgrades MedAvail (NASDAQ:MDVL) to Sell

MedAvail (NASDAQ:MDVL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “

Several other research analysts have also issued reports on the company. Lake Street Capital lowered 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 report on Thursday, August 12th. Cowen cut their price target on MedAvail from $20.00 to $9.50 and set an “outperform” rating on the stock in a report on Monday, August 30th.

Shares of MDVL opened at $1.92 on Wednesday. MedAvail has a 12-month low of $1.76 and a 12-month high of $20.79. The business has a 50-day simple moving average of $2.67 and a two-hundred day simple moving average of $6.90. The company has a quick ratio of 4.17, a current ratio of 4.64 and a debt-to-equity ratio of 0.30. The stock has a market cap of $63.07 million, a PE ratio of -1.16 and a beta of 1.05.

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

A number of large investors have recently added to or reduced their stakes in MDVL. Squarepoint Ops LLC grew its position in shares of MedAvail by 35.3% in the first quarter. Squarepoint Ops LLC now owns 14,372 shares of the company’s stock valued at $201,000 after purchasing an additional 3,749 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of MedAvail in the second quarter valued at $55,000. Morgan Stanley purchased a new position in shares of MedAvail in the first quarter valued at $63,000. Deutsche Bank AG purchased a new position in shares of MedAvail in the second quarter valued at $85,000. Finally, New York State Common Retirement Fund purchased a new position in shares of MedAvail in the second quarter valued at $123,000. 86.88% of the stock is owned by institutional investors and hedge funds.

MedAvail Company Profile

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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