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News Breaks
April 11, 2014
07:52 EDTMDASMedAssets remains top pick in health IT space, says RW Baird
Baird said MedAssets remains a top pick in the Health IT space citing its valuation, conservative near-term outlook, and exceptional free cash flow profile. Shares are Outperform rated with a $30 price target.
News For MDAS From The Last 14 Days
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August 4, 2015
09:16 EDTMDASOn The Fly: Pre-market Movers
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08:34 EDTMDASMedAssets trading resumes, shares down $1.90 to $21.70
Shares of MedAssets gave up pre-market gains and turned lower after announcing the loss of a contract with Tenet (THC). The stock had been up following an activist stake by Starboard Value.
08:08 EDTMDASMedAssets says still evaluating business to improve growth
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08:07 EDTMDASMedAssets says SCS Agreement with Tenet not renewed
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08:02 EDTMDASMedAssets trading halted, pending news
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06:43 EDTMDASStarboard says plan would drive MedAssets share price to $37-$46 by end of 2016
Starboard Value on August 3, 2015 disclosed an 8.7% ownership stake in MedAssets making it one of the company's largest shareholders. Starboard also announced that it has delivered a letter to R. Halsey Wise, MedAsset's chairman and CEO, and the board of the company. Starboard looks forward to constructive dialogue with company management and the board regarding the company's business and opportunities to create significant shareholder value. The letter stated, "We understand that you are in the process of a comprehensive strategic review, and we would like you to take into consideration our views and the views of other shareholders as you continue to evaluate alternatives. Based on the extensive research that we have conducted, we believe that MedAssets is deeply undervalued relative to the quality of its assets, and the earnings power of its core business. We believe that there is an opportunity to unlock value by improving capital allocation, streamlining the company's cost structure, and improving corporate governance. In order to unlock this value, we believe that management should take appropriate action... We estimate that pursuing this plan of action could result in a stock price of $37-$46 by the end of 2016... We urge you to expeditiously evaluate your current cost structure and announce a comprehensive cost saving program and long-term margin targets. We expect that as you evaluate MedAssets' historical capital allocation and corporate governance practices, you will adopt policies that are significantly more shareholder-friendly. While you continue to work through the strategic review of MedAssets, we believe it is critical to consider all available strategic alternatives, including a sale of the company."
05:47 EDTMDASPiper Jaffray disagrees with activist Starboard on MedAssets
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August 3, 2015
19:01 EDTMDASOn The Fly: After Hours Movers
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17:40 EDTMDASStarboard reports 8.7% stake in MedAssets, outlines plan to boost stock price
On August 3, Starboard Value delivered a letter to MedAssets' chairman and CEO, R. Halsey Wise, and the company's board. In the letter, Starboard expressed its belief, among other things, that MedAssets is deeply undervalued relative to the quality of its assets and the earnings power of its core business. Starboard also outlined in the letter a plan to create significant shareholder value by reducing MedAssets' operating expenses, improving capital allocation, improving corporate governance and exploring all available strategic alternatives. In the letter, Starboard stated that it would like MedAssets' management and board to consider the views of its shareholders in connection with company's ongoing strategic review process. Starboard also expressed its belief in the letter that if MedAssets were to pursue Starboard’s plan of action, the stock price of the company could be $37-$46 by the end of 2016.
July 31, 2015
10:02 EDTMDASOn The Fly: Analyst Downgrade Summary
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06:18 EDTMDASMedAssets downgraded to Sector Weight from Overweight at KeyBanc
Keybanc downgraded MedAssets to Sector Weight based on healthy valuation and concerns that EBITDA growth may be limited due to negative mix shift in 2016.
July 29, 2015
16:29 EDTMDASMedAssets sees FY15 EPS $1.20-$1.26, consensus $1.19
Sees FY15 revenue $756M-$768M, consensus $759.58M. The company raised the midpoints of its full-year 2015 consolidated financial guidance, realigned the segment revenue mix based on year-to-date results, and narrowed the guidance ranges.
16:27 EDTMDASMedAssets reports Q2 EPS 31c, consensus 27c
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July 21, 2015
10:01 EDTMDASOn The Fly: Analyst Downgrade Summary
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06:04 EDTMDASMedAssets downgraded to Market Perform from Outperform at Cowen
Cowen downgraded MedAssets to Market Perform and lowered its price target to $22 from $25. The firm believes shares reflect optimism around a transformative corporate event such as a split between the SCM and RCM segments, that is less likely to happen.

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