Mednax Inc. (MD) Stock Rating Lowered by Zacks Investment Research
Mednax Inc. (NYSE:MD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
Other equities analysts have also recently issued research reports about the company. Jefferies Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Mednax in a research note on Wednesday, June 8th. Mizuho reaffirmed a “buy” rating and set a $79.00 target price on shares of Mednax in a research note on Tuesday, September 20th. Citigroup Inc. lowered their target price on Mednax from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 17th. Finally, JPMorgan Chase & Co. lowered their target price on Mednax from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $76.11.
Shares of Mednax (NYSE:MD) opened at 65.93 on Wednesday. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 18.40 and a beta of 0.56. Mednax has a 1-year low of $61.40 and a 1-year high of $83.20. The stock’s 50 day moving average is $65.41 and its 200-day moving average is $68.17.
Mednax (NYSE:MD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The company had revenue of $772 million for the quarter, compared to analyst estimates of $775.68 million. Mednax had a return on equity of 14.88% and a net margin of 11.17%. Mednax’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, analysts anticipate that Mednax will post $4.14 EPS for the current year.
In other Mednax news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $65.01, for a total transaction of $97,515.00. Following the completion of the sale, the director now owns 12,755 shares of the company’s stock, valued at $829,202.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. TimesSquare Capital Management LLC raised its position in shares of Mednax by 14.6% in the first quarter. TimesSquare Capital Management LLC now owns 862,050 shares of the company’s stock worth $55,706,000 after buying an additional 109,950 shares during the period. USS Investment Management Ltd acquired a new position in shares of Mednax during the first quarter worth approximately $5,673,000. NN Investment Partners Holdings N.V. acquired a new position in shares of Mednax during the first quarter worth approximately $2,099,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Mednax by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,799,878 shares of the company’s stock worth $180,928,000 after buying an additional 35,101 shares during the period. Finally, BlackRock Group LTD raised its position in shares of Mednax by 3.2% in the first quarter. BlackRock Group LTD now owns 349,570 shares of the company’s stock worth $22,589,000 after buying an additional 10,776 shares during the period. Institutional investors own 97.75% of the company’s stock.
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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