Legal & General Group Plc cut its holdings in shares of MEDNAX, Inc. (NYSE:MD) by 18.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,793 shares of the company’s stock after selling 62,874 shares during the period. Legal & General Group Plc owned about 0.32% of MEDNAX worth $8,375,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MD. Eagle Bay Advisors LLC bought a new stake in MEDNAX during the 2nd quarter worth approximately $30,000. Cullen Frost Bankers Inc. bought a new stake in MEDNAX during the 2nd quarter worth approximately $50,000. Captrust Financial Advisors grew its position in MEDNAX by 1,207.3% during the 1st quarter. Captrust Financial Advisors now owns 2,157 shares of the company’s stock worth $55,000 after acquiring an additional 1,992 shares during the last quarter. PNC Financial Services Group Inc. grew its position in MEDNAX by 39.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,664 shares of the company’s stock worth $140,000 after acquiring an additional 1,316 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new stake in MEDNAX during the 2nd quarter worth approximately $201,000.
A number of research analysts have commented on MD shares. Mizuho increased their price objective on MEDNAX from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, August 9th. Truist decreased their price objective on MEDNAX from $37.00 to $31.00 and set a “hold” rating on the stock in a research report on Wednesday. SVB Leerink started coverage on MEDNAX in a research note on Monday, September 27th. They issued a “market perform” rating and a $29.00 price target on the stock. Truist Securities cut their price target on MEDNAX from $37.00 to $31.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus started coverage on MEDNAX in a research note on Tuesday, June 22nd. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, MEDNAX currently has an average rating of “Hold” and an average price target of $29.00.
MEDNAX (NYSE:MD) last released its quarterly earnings results on Friday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.09. MEDNAX had a positive return on equity of 12.13% and a negative net margin of 2.93%. The firm had revenue of $473.00 million for the quarter, compared to the consensus estimate of $453.12 million. During the same quarter last year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Sell-side analysts anticipate that MEDNAX, Inc. will post 1.31 earnings per share for the current fiscal year.
In other MEDNAX news, Director Roger Md Medel sold 1,270 shares of MEDNAX stock in a transaction dated Monday, October 4th. The stock was sold at an average price of $29.00, for a total value of $36,830.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark S. Ordan sold 95,000 shares of the firm’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $35.09, for a total value of $3,333,550.00. The disclosure for this sale can be found here. Insiders sold a total of 105,069 shares of company stock worth $3,655,028 in the last three months. Company insiders own 2.80% of the company’s stock.
MEDNAX, Inc provides physician services including newborn, anesthesia, maternal-fetal, tele radiology, pediatric cardiology and other pediatric subspecialty care. The firm’s solution include anesthesiology & pain management, prenatal, neonatal, pediatric, radiology, tele radiology, revenue cycle management and perioperative improvement consulting.
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