Mednax, Inc (MD) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Mednax, Inc (NYSE:MD) from a sell rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Mednax, Inc., formerly Pediatrix Medical Group, Inc. is a healthcare services company that focuses on physician services for newborn, maternal-fetal, pediatric subspecialty and anesthesia care. The company ,through its subsidiaries, provides these services in the United States and Puerto Rico. In addition, MEDNAX engages in clinical research, monitoring clinical outcomes, and implementing clinical initiatives. “
MD has been the topic of a number of other reports. Stephens upgraded Mednax from an equal weight rating to an overweight rating and increased their price objective for the company from $55.00 to $68.00 in a research report on Thursday, June 22nd. BidaskClub upgraded Mednax from a strong sell rating to a sell rating in a research report on Tuesday, June 13th. Mizuho reiterated a neutral rating and issued a $48.00 price objective (down from $62.00) on shares of Mednax in a research report on Tuesday, August 1st. Jefferies Group LLC set a $46.00 price objective on Mednax and gave the company a hold rating in a research report on Sunday, July 30th. Finally, KeyCorp upgraded Mednax from a sector weight rating to an overweight rating and set a $51.00 price objective on the stock in a research report on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Mednax has an average rating of Hold and an average price target of $56.63.
Shares of Mednax (MD) opened at 42.17 on Wednesday. The stock has a 50 day moving average price of $43.06 and a 200-day moving average price of $53.02. The company has a market cap of $3.89 billion, a P/E ratio of 13.43 and a beta of 0.37. Mednax has a 1-year low of $40.78 and a 1-year high of $72.13.
Mednax (NYSE:MD) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.04. The firm had revenue of $843.00 million for the quarter, compared to analyst estimates of $849.49 million. Mednax had a return on equity of 11.89% and a net margin of 8.78%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. Analysts predict that Mednax will post $3.30 earnings per share for the current fiscal year.
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In other news, insider John C. Pepia sold 3,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $42.85, for a total value of $128,550.00. Following the transaction, the insider now owns 35,569 shares of the company’s stock, valued at approximately $1,524,131.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Eagle Boston Investment Management Inc. raised its stake in Mednax by 12.9% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 191,636 shares of the company’s stock worth $11,569,000 after buying an additional 21,895 shares during the period. Swiss National Bank raised its stake in Mednax by 3.0% during the 2nd quarter. Swiss National Bank now owns 341,700 shares of the company’s stock worth $20,628,000 after buying an additional 9,900 shares during the period. South Dakota Investment Council raised its stake in Mednax by 24.5% during the 2nd quarter. South Dakota Investment Council now owns 50,800 shares of the company’s stock worth $3,067,000 after buying an additional 10,000 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Mednax by 527.2% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 15,228 shares of the company’s stock worth $919,000 after buying an additional 12,800 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Mednax by 55.2% during the 1st quarter. JPMorgan Chase & Co. now owns 79,610 shares of the company’s stock worth $5,524,000 after buying an additional 28,301 shares during the period.
Mednax Company Profile
MEDNAX, Inc is a provider of physician services, including newborn, anesthesia, maternal-fetal, teleradiology, pediatric cardiology and other pediatric subspecialty care. As of December 31, 2016, the Company’s national network consisted of over 3,600 affiliated physicians, including over 1,130 physicians providing neonatal clinical care, in 35 states and Puerto Rico, primarily within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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