Mednax Inc. (MD) Sees Large Volume Increase
Shares of Mednax Inc. (NYSE:MD) saw strong trading volume on Thursday . 497,483 shares traded 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.
A number of research analysts recently issued reports on the company. Citigroup Inc. decreased their price objective on Mednax from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Wednesday, August 17th. Mizuho increased their price objective on Mednax from $75.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, April 29th. Zacks Investment Research upgraded Mednax from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Jefferies Group reiterated a “buy” rating on shares of Mednax in a report on Friday, April 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Mednax from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, July 29th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $76.67.
The company has a market capitalization of $5.86 billion and a PE ratio of 17.73. The firm’s 50-day moving average price is $69.95 and its 200-day moving average price is $68.25.
Mednax (NYSE:MD) last announced its earnings results on Thursday, July 28th. The company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The business earned $772 million during the quarter, compared to analysts’ expectations of $775.68 million. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Analysts predict that Mednax Inc. will post $4.14 EPS for the current year.
In related news, COO Joseph M. Calabro sold 28,347 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $67.78, for a total transaction of $1,921,359.66. Following the transaction, the chief operating officer now directly owns 253,882 shares of the company’s stock, valued at approximately $17,208,121.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael D. Stanley sold 14,778 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $67.78, for a total value of $1,001,652.84. Following the transaction, the insider now directly owns 49,266 shares in the company, valued at $3,339,249.48. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of the company. 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 worth $18,385,000 after buying an additional 16,606 shares during the period. 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 worth $2,280,000 after buying an additional 1,743 shares during the period. Finally, Marshall Wace LLP purchased a new position in Mednax during the fourth quarter worth $1,917,000.
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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