KeyCorp upgraded shares of Mednax, Inc (NYSE:MD) from a sector weight rating to an overweight rating in a research report sent to investors on Sunday, MarketBeat.com reports. The brokerage currently has $51.00 price objective on the stock. KeyCorp also issued estimates for Mednax’s Q3 2017 earnings at $0.77 EPS, Q4 2017 earnings at $0.79 EPS and FY2017 earnings at $3.06 EPS.
Several other analysts have also recently commented on the stock. Robert W. Baird reiterated a hold rating and issued a $47.00 price target on shares of Mednax in a research note on Sunday, September 3rd. BidaskClub cut shares of Mednax from a sell rating to a strong sell rating in a research note on Friday, August 4th. Mizuho reiterated a neutral rating and issued a $48.00 price target (down previously from $62.00) on shares of Mednax in a research note on Tuesday, August 1st. Jefferies Group LLC set a $46.00 price target on shares of Mednax and gave the stock a hold rating in a research note on Sunday, July 30th. Finally, Stephens upgraded shares of Mednax from an equal weight rating to an overweight rating and boosted their price target for the stock from $55.00 to $68.00 in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Mednax presently has an average rating of Hold and a consensus target price of $58.89.
Mednax (NYSE:MD) opened at 42.13 on Friday. Mednax has a 1-year low of $40.78 and a 1-year high of $72.13. The company has a market cap of $3.88 billion, a PE ratio of 13.42 and a beta of 0.40. The company has a 50-day moving average price of $43.21 and a 200-day moving average price of $56.37.
Mednax (NYSE:MD) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. The business had revenue of $843.00 million for the quarter, compared to analysts’ expectations of $849.49 million. Mednax had a net margin of 8.78% and a return on equity of 11.89%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, analysts expect that Mednax will post $3.31 EPS for the current fiscal year.
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In other news, insider John C. Pepia sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $42.85, for a total transaction of $128,550.00. Following the sale, the insider now directly owns 35,569 shares in the company, valued at approximately $1,524,131.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. QS Investors LLC grew its holdings in Mednax by 0.3% during the 2nd quarter. QS Investors LLC now owns 3,812 shares of the company’s stock valued at $230,000 after purchasing an additional 12 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Mednax by 0.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,099 shares of the company’s stock valued at $632,000 after purchasing an additional 47 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Mednax by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 1,795 shares of the company’s stock valued at $125,000 after purchasing an additional 55 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Mednax by 1.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 11,300 shares of the company’s stock valued at $784,000 after purchasing an additional 140 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Mednax by 1.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,656 shares of the company’s stock valued at $1,017,000 after purchasing an additional 164 shares during the last quarter.
Mednax Company Profile
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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