Mednax Inc. (MD) Shares Down 2.6%
Mednax Inc. (NYSE:MD)’s share price was down 2.6% on Thursday . The stock traded as low as $63.74 and last traded at $64.09, with a volume of 237,056 shares changing hands. The stock had previously closed at $65.77.
A number of brokerages have recently commented on MD. Jefferies Group lowered their price objective on Mednax from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 26th. Robert W. Baird reissued a “buy” rating on shares of Mednax in a research report on Monday, May 16th. Zacks Investment Research downgraded Mednax from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. JPMorgan Chase & Co. lowered their price objective on Mednax from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, July 29th. Finally, Citigroup Inc. lowered their price objective on Mednax from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Wednesday, August 17th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $76.11.
The stock has a market capitalization of $5.94 billion and a P/E ratio of 18.00. The firm’s 50 day moving average price is $68.77 and its 200 day moving average price is $68.26.
Mednax (NYSE:MD) last posted its earnings results on Thursday, July 28th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by $0.04. The firm earned $772 million during the quarter, compared to analyst estimates of $775.68 million. During the same period in the prior year, the business posted $0.90 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that Mednax Inc. will post $4.14 EPS for the current year.
In other news, SVP Dominic J. Andreano sold 3,922 shares of the stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $68.80, for a total value of $269,833.60. Following the completion of the sale, the senior vice president now owns 24,746 shares in the company, valued at $1,702,524.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Md Carlo A. Waldemar sold 5,334 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $70.50, for a total value of $376,047.00. Following the sale, the director now owns 16,589 shares of the company’s stock, valued at approximately $1,169,524.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Mednax stock. I.G. Investment Management LTD. raised its position in shares of Mednax Inc. (NYSE:MD) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,823 shares of the company’s stock after buying an additional 1,743 shares during the period. I.G. Investment Management LTD.’s holdings in Mednax were worth $2,280,000 at the end of the most recent 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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