Mednax Inc. (NYSE:MD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Mednax, Inc., formerly Pediatrix Medical Group, Inc. is a healthcare services company that focuses on physician services for newborn, maternal-fetal, pediatric subspecialty and anesthesia care. The company ,through its subsidiaries, provides these services in the United States and Puerto Rico. In addition, MEDNAX engages in clinical research, monitoring clinical outcomes, and implementing clinical initiatives. “
A number of other brokerages have also issued reports on MD. Citigroup Inc. reduced their target price on Mednax from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Wednesday, August 17th. JPMorgan Chase & Co. reduced their target price on Mednax from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, July 29th. Jefferies Group reduced their target price on Mednax from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 26th. Finally, Mizuho restated a “buy” rating and issued a $79.00 target price on shares of Mednax in a research note on Tuesday, September 20th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $75.00.
Mednax (NYSE:MD) opened at 60.89 on Thursday. The company has a 50-day moving average of $65.63 and a 200 day moving average of $68.41. The company has a market cap of $5.67 billion, a P/E ratio of 16.72 and a beta of 0.54. Mednax has a one year low of $59.36 and a one year high of $76.96.
Mednax (NYSE:MD) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.11 by $0.02. Mednax had a net margin of 10.97% and a return on equity of 14.47%. The business had revenue of $828 million for the quarter, compared to analysts’ expectations of $821.18 million. During the same quarter in the prior year, the company posted $1.10 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. Analysts anticipate that Mednax will post $4.06 earnings per share for the current year.
In other news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $65.01, for a total transaction of $97,515.00. Following the sale, the director now directly owns 12,755 shares in the company, valued at approximately $829,202.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Daruma Capital Management LLC boosted its stake in Mednax by 8.7% in the first quarter. Daruma Capital Management LLC now owns 52,787 shares of the company’s stock worth $3,411,000 after buying an additional 4,243 shares during the period. Arizona State Retirement System boosted its stake in Mednax by 5.8% in the first quarter. Arizona State Retirement System now owns 51,467 shares of the company’s stock valued at $3,326,000 after buying an additional 2,800 shares during the last quarter. Aristotle Capital Boston LLC boosted its stake in Mednax by 2.0% in the first quarter. Aristotle Capital Boston LLC now owns 110,317 shares of the company’s stock valued at $7,129,000 after buying an additional 2,177 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Mednax by 2.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 87,477 shares of the company’s stock valued at $5,653,000 after buying an additional 2,200 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Mednax by 5.2% in the first quarter. Envestnet Asset Management Inc. now owns 111,285 shares of the company’s stock valued at $7,191,000 after buying an additional 5,482 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.
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.