Mednax Inc. (MD) Sees Unusually-High Trading Volume
Mednax Inc. (NYSE:MD) saw unusually-high trading volume on Thursday . Approximately 497,483 shares changed hands during trading, a decline of 16% from the previous session’s volume of 592,806 shares.The stock last traded at $63.92 and had previously closed at $64.62.
MD has been the topic of several research analyst reports. Mizuho boosted their price target on shares of Mednax from $75.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, April 29th. Jefferies Group reiterated a “buy” rating on shares of Mednax in a research report on Friday, April 29th. Zacks Investment Research upgraded shares of Mednax from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Robert W. Baird reiterated a “buy” rating on shares of Mednax in a research report on Monday, May 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Mednax from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $76.11.
The stock has a 50-day moving average of $69.65 and a 200 day moving average of $68.24. The stock has a market cap of $5.78 billion and a PE ratio of 17.51.
Mednax (NYSE:MD) last released its 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. During the same period in the previous year, the business earned $0.90 EPS. The firm had revenue of $772 million for the quarter, compared to analysts’ expectations of $775.68 million. The company’s revenue was up 14.1% on a year-over-year basis. Analysts forecast that Mednax Inc. will post $4.14 EPS for the current year.
In related news, insider Michael D. Stanley sold 14,778 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $67.78, for a total value of $1,001,652.84. Following the transaction, the insider now owns 49,266 shares of the company’s stock, valued at approximately $3,339,249.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Dominic J. Andreano sold 3,922 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $68.80, for a total transaction of $269,833.60. Following the completion of the transaction, the senior vice president now directly owns 24,746 shares in the company, valued at approximately $1,702,524.80. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently bought and sold shares of MD. Marshall Wace LLP bought a new position in Mednax during the fourth quarter valued at approximately $1,917,000. I.G. Investment Management LTD. increased its position in Mednax by 5.8% in the fourth quarter. I.G. Investment Management LTD. now owns 31,823 shares of the company’s stock valued at $2,280,000 after buying an additional 1,743 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Mednax by 6.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 256,546 shares of the company’s stock valued at $18,385,000 after buying an additional 16,606 shares in the last quarter.
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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