First Mercantile Trust Co. Has $264,000 Position in Mednax Inc. (MD)
First Mercantile Trust Co. reduced its position in shares of Mednax Inc. (NYSE:MD) by 69.8% during the second quarter, Holdings Channel reports. The fund owned 3,640 shares of the company’s stock after selling 8,402 shares during the period. First Mercantile Trust Co.’s holdings in Mednax were worth $264,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aperio Group LLC increased its position in shares of Mednax by 19.8% in the first quarter. Aperio Group LLC now owns 18,972 shares of the company’s stock valued at $1,226,000 after buying an additional 3,136 shares during the last quarter. Pacad Investment Ltd. increased its position in shares of Mednax by 89.4% in the first quarter. Pacad Investment Ltd. now owns 12,100 shares of the company’s stock valued at $782,000 after buying an additional 5,710 shares during the last quarter. Ngam Advisors L.P. increased its position in shares of Mednax by 34.0% in the first quarter. Ngam Advisors L.P. now owns 110,526 shares of the company’s stock valued at $7,142,000 after buying an additional 28,029 shares during the last quarter. Teachers Advisors Inc. increased its position in shares of Mednax by 6.6% in the first quarter. Teachers Advisors Inc. now owns 290,422 shares of the company’s stock valued at $18,767,000 after buying an additional 17,963 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Mednax by 14.0% in the first quarter. BlackRock Inc. now owns 111,925 shares of the company’s stock valued at $7,232,000 after buying an additional 13,776 shares during the last quarter. 97.75% of the stock is owned by institutional investors.
Shares of Mednax Inc. (NYSE:MD) opened at 66.25 on Monday. Mednax Inc. has a one year low of $61.40 and a one year high of $83.20. The firm has a 50-day moving average price of $65.42 and a 200 day moving average price of $68.19. The stock has a market capitalization of $6.11 billion, a PE ratio of 18.49 and a beta of 0.54.
Mednax (NYSE:MD) last announced its earnings results on Thursday, July 28th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.07 by $0.04. Mednax had a net margin of 11.17% and a return on equity of 14.88%. The company earned $772 million during the quarter, compared to analysts’ expectations of $775.68 million. During the same quarter last year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Mednax Inc. will post $4.14 EPS for the current fiscal year.
MD has been the subject of several research analyst reports. Mizuho reaffirmed a “buy” rating and set a $79.00 target price on shares of Mednax in a research note on Tuesday, September 20th. 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. Zacks Investment Research raised Mednax from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Wednesday, June 29th. 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. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $76.11.
In related news, Director Md Pascal J. Goldschmidt sold 1,500 shares of Mednax 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 sale, the director now directly owns 12,755 shares in the company, valued at $829,202.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.
Mednax Company Profile
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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