Mednax, Inc (NYSE:MD) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, July 28th.
A number of other research firms also recently commented on MD. Stifel Nicolaus decreased their price objective on shares of Mednax from $65.00 to $58.00 and set a “hold” rating for the company in a report on Thursday, May 25th. Jefferies Group LLC reissued a “hold” rating and set a $58.00 price target on shares of Mednax in a report on Wednesday, April 26th. Mizuho reduced their price target on shares of Mednax from $64.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, May 30th. TheStreet cut shares of Mednax from a “b-” rating to a “c+” rating in a research note on Tuesday, May 16th. Finally, ValuEngine cut shares of Mednax from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $64.00.
Shares of Mednax (NYSE:MD) traded up 0.89% during mid-day trading on Friday, reaching $44.30. 1,846,131 shares of the company’s stock traded hands. Mednax has a 12-month low of $43.76 and a 12-month high of $72.13. The company has a market cap of $4.08 billion, a P/E ratio of 14.11 and a beta of 0.40. The company’s 50 day moving average is $56.24 and its 200 day moving average is $62.41.
Mednax (NYSE:MD) last released its quarterly earnings results on Friday, July 28th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. Mednax had a net margin of 8.78% and a return on equity of 11.89%. The business had revenue of $843 million during the quarter, compared to the consensus estimate of $849.49 million. During the same quarter last year, the company earned $1.03 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Mednax will post $3.33 EPS for the current fiscal year.
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In other Mednax news, insider Joseph M. Calabro sold 23,327 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $55.00, for a total value of $1,282,985.00. Following the sale, the insider now directly owns 296,379 shares in the company, valued at $16,300,845. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Md Pascal J. Goldschmidt sold 1,969 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $57.57, for a total value of $113,355.33. Following the completion of the sale, the director now owns 18,072 shares in the company, valued at $1,040,405.04. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its position in Mednax by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 4,136 shares of the company’s stock valued at $286,000 after buying an additional 204 shares in the last quarter. JPMorgan Chase & Co. raised its position in Mednax by 55.2% in the first quarter. JPMorgan Chase & Co. now owns 79,610 shares of the company’s stock valued at $5,524,000 after buying an additional 28,301 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in Mednax during the first quarter valued at $357,000. Prudential Financial Inc. raised its position in Mednax by 7.9% in the first quarter. Prudential Financial Inc. now owns 58,520 shares of the company’s stock valued at $4,060,000 after buying an additional 4,270 shares during the last quarter. Finally, Achmea Investment Management B.V. bought a new position in Mednax during the first quarter valued at $966,000.
MEDNAX, Inc is a provider of physician services, including newborn, anesthesia, maternal-fetal, teleradiology, pediatric cardiology and other pediatric subspecialty care. As of December 31, 2016, the Company’s national network consisted of over 3,600 affiliated physicians, including over 1,130 physicians providing neonatal clinical care, in 35 states and Puerto Rico, primarily within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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