MEDNAX (MD) Lifted to Neutral at Bank of America
MEDNAX (NYSE:MD) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday, The Fly reports. The brokerage presently has a $50.00 price objective on the stock, down from their previous price objective of $60.00. Bank of America’s price objective suggests a potential upside of 5.69% from the company’s previous close.
Several other equities analysts have also recently weighed in on MD. Zacks Investment Research upgraded MEDNAX from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. ValuEngine upgraded MEDNAX from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Stifel Nicolaus set a $47.00 price target on MEDNAX and gave the company a “hold” rating in a report on Thursday, August 2nd. Credit Suisse Group upgraded MEDNAX from a “neutral” rating to an “outperform” rating and raised their price target for the company from $47.00 to $55.00 in a report on Friday, August 3rd. Finally, Leerink Swann began coverage on MEDNAX in a report on Thursday, July 12th. They set a “market perform” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $54.40.
NYSE:MD opened at $47.31 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.52 and a quick ratio of 1.52. MEDNAX has a 12-month low of $40.56 and a 12-month high of $63.04. The stock has a market cap of $4.46 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.31 and a beta of 0.24.
In other news, insider John C. Pepia sold 3,500 shares of MEDNAX stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $48.18, for a total value of $168,630.00. Following the completion of the transaction, the insider now owns 30,148 shares in the company, valued at approximately $1,452,530.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of MEDNAX by 3.1% in the 2nd quarter. BlackRock Inc. now owns 8,125,250 shares of the company’s stock worth $351,662,000 after purchasing an additional 245,301 shares during the period. Blue Harbour Group L.P. boosted its holdings in shares of MEDNAX by 9.7% in the 1st quarter. Blue Harbour Group L.P. now owns 4,508,868 shares of the company’s stock worth $250,828,000 after purchasing an additional 397,600 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of MEDNAX by 1.8% in the 2nd quarter. Pzena Investment Management LLC now owns 2,299,800 shares of the company’s stock worth $99,535,000 after purchasing an additional 41,088 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of MEDNAX by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,992 shares of the company’s stock worth $94,481,000 after acquiring an additional 124,936 shares during the last quarter. Finally, Fiduciary Management Inc. WI lifted its stake in shares of MEDNAX by 4.1% during the 1st quarter. Fiduciary Management Inc. WI now owns 1,955,676 shares of the company’s stock worth $108,794,000 after acquiring an additional 77,528 shares during the last quarter. Hedge funds and other institutional investors own 95.50% of the company’s stock.
MEDNAX, Inc, together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology, pediatric cardiology, and other pediatric subspecialties physician services in the United States and Puerto Rico. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians; anesthesia and anesthesia subspecialty care; and acute and chronic pain management services.
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