Retirement Systems of Alabama decreased its position in shares of Mednax Inc. (NYSE:MD) by 0.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 119,997 shares of the company’s stock after selling 954 shares during the period. Retirement Systems of Alabama’s holdings in Mednax were worth $8,691,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of MD. First Quadrant L P CA acquired a new position in shares of Mednax during the second quarter worth approximately $130,000. Middleton & Co Inc MA acquired a new position in shares of Mednax during the second quarter worth approximately $221,000. JFS Wealth Advisors LLC acquired a new position in shares of Mednax during the second quarter worth approximately $232,000. P.R. Herzig & Co. Inc. acquired a new position in shares of Mednax during the second quarter worth approximately $239,000. Finally, Atria Investments LLC acquired a new position in shares of Mednax during the second quarter worth approximately $414,000. Institutional investors and hedge funds own 97.75% of the company’s stock.
Shares of Mednax Inc. (NYSE:MD) traded down 1.17% during trading on Friday, reaching $66.12. The company’s stock had a trading volume of 692,755 shares. Mednax Inc. has a one year low of $61.40 and a one year high of $83.20. The company has a 50-day moving average price of $65.56 and a 200-day moving average price of $68.30. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 18.45 and a beta of 0.54.
Mednax (NYSE:MD) last issued its quarterly earnings data 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 firm had revenue of $772 million for the quarter, compared to analysts’ expectations of $775.68 million. Mednax had a return on equity of 14.88% and a net margin of 11.17%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. On average, equities research analysts forecast that Mednax Inc. will post $4.14 earnings per share for the current fiscal year.
MD has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Mednax from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Wednesday, June 29th. Mizuho restated a “buy” rating and issued a $79.00 target price on shares of Mednax in a report on Tuesday, September 20th. Jefferies Group cut their target price on shares of Mednax from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 26th. Citigroup Inc. cut their target price on shares of 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. cut their target price on shares of Mednax from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Mednax currently has an average rating of “Buy” and an average price target of $76.11.
In other news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the company’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 transaction of $97,515.00. Following the sale, the director now directly owns 12,755 shares of the company’s stock, valued at approximately $829,202.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.40% 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.