Todays Report: The Fenimore Asset Management Inc. invests in Mednax Inc. (MD) Shares

The Fenimore Asset Management Inc. invests in Mednax Inc. (MD) Shares

Fenimore Asset Management Inc. boosted its position in Mednax Inc. (NYSE:MD) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 799,460 shares of the company’s stock after buying an additional 2,625 shares during the period. Mednax makes up approximately 2.5% of Fenimore Asset Management Inc.’s portfolio, making the stock its 14th largest position. Fenimore Asset Management Inc.’s holdings in Mednax were worth $52,964,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. British Columbia Investment Management Corp boosted its stake in shares of Mednax by 9.3% in the third quarter. British Columbia Investment Management Corp now owns 73,249 shares of the company’s stock worth $4,853,000 after buying an additional 6,203 shares during the period. LGT Capital Partners LTD. boosted its stake in shares of Mednax by 192.5% in the third quarter. LGT Capital Partners LTD. now owns 134,540 shares of the company’s stock worth $8,913,000 after buying an additional 88,540 shares during the period. Bremer Trust National Association boosted its stake in shares of Mednax by 0.6% in the third quarter. Bremer Trust National Association now owns 5,025 shares of the company’s stock worth $333,000 after buying an additional 30 shares during the period. Eqis Capital Management Inc. bought a new stake in shares of Mednax during the third quarter worth approximately $296,000. Finally, KAMES CAPITAL plc boosted its stake in shares of Mednax by 2.1% in the second quarter. KAMES CAPITAL plc now owns 958,973 shares of the company’s stock worth $69,439,000 after buying an additional 19,335 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

Shares of Mednax Inc. (NYSE:MD) traded up 0.37% on Wednesday, hitting $65.90. The company had a trading volume of 127,325 shares. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 18.39 and a beta of 0.54. The company has a 50 day moving average of $65.65 and a 200-day moving average of $68.35. Mednax Inc. has a 12-month low of $61.40 and a 12-month high of $83.20.

Mednax (NYSE:MD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The business earned $772 million during the quarter, compared to analyst estimates of $775.68 million. Mednax had a return on equity of 14.88% and a net margin of 11.17%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. On average, analysts forecast that Mednax Inc. will post $4.14 earnings per share for the current year.

MD has been the topic of a number of analyst reports. Zacks Investment Research upgraded Mednax from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Wednesday, June 29th. Mizuho reiterated a “buy” rating and set a $79.00 target price on shares of Mednax in a report on Tuesday, September 20th. Jefferies Group lowered their target price on Mednax from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 26th. Citigroup Inc. lowered their target price on Mednax from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Wednesday, August 17th. Finally, JPMorgan Chase & Co. lowered their target price on Mednax from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Mednax currently has an average rating of “Buy” and an average target price of $76.11.

In other Mednax news, Director Md Pascal J. Goldschmidt sold 1,500 shares of Mednax stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $65.01, for a total transaction of $97,515.00. Following the transaction, the director now directly owns 12,755 shares in the company, valued at approximately $829,202.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.40% of the stock is currently owned by company insiders.

Mednax Company Profile

MEDNAX, Inc is a provider of physician services, including newborn, anesthesia, maternal-fetal, teleradiology, pediatric cardiology and other pediatric subspecialty care. The Company’s national network consists of approximately 3,240 affiliated physicians, including approximately 1,100 physicians who provide neonatal clinical care, in over 30 states and Puerto Rico, within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.

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