Mednax Inc. (NYSE:MD) was downgraded by analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday.
A number of other research analysts have also commented on the company. Citigroup Inc. lowered their price objective on Mednax from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Wednesday, August 17th. Zacks Investment Research lowered Mednax from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. JPMorgan Chase & Co. lowered their price objective on Mednax from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, July 29th. Jefferies Group lowered their price objective on Mednax from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 26th. Finally, Mizuho reissued a “buy” rating and set a $79.00 price objective on shares of Mednax in a report on Tuesday, September 20th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $75.00.
Mednax (NYSE:MD) opened at 60.89 on Thursday. Mednax has a 52 week low of $59.36 and a 52 week high of $76.96. The company’s 50-day moving average price is $65.63 and its 200-day moving average price is $68.41. The company has a market capitalization of $5.67 billion, a P/E ratio of 16.72 and a beta of 0.54.
Mednax (NYSE:MD) last issued its earnings results on Thursday, October 27th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.11 by $0.02. The firm earned $828 million during the quarter, compared to analyst estimates of $821.18 million. Mednax had a return on equity of 14.47% and a net margin of 10.97%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share. On average, equities analysts forecast that Mednax will post $4.06 EPS for the current fiscal year.
In other Mednax news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $65.01, for a total value of $97,515.00. Following the completion of the sale, the director now owns 12,755 shares in the company, valued at approximately $829,202.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Mednax during the second quarter worth approximately $101,000. Parkside Financial Bank & Trust increased its stake in shares of Mednax by 30.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,406 shares of the company’s stock worth $102,000 after buying an additional 325 shares in the last quarter. Mizuho Asset Management Co. Ltd. purchased a new stake in shares of Mednax during the second quarter worth approximately $107,000. Pacer Advisors Inc. increased its stake in shares of Mednax by 9.5% in the second quarter. Pacer Advisors Inc. now owns 1,760 shares of the company’s stock worth $127,000 after buying an additional 152 shares in the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of Mednax during the second quarter worth approximately $130,000. Institutional investors own 97.73% of the company’s stock.
Mednax Company Profile