Bank of New York Mellon Corp Has $78.78 Million Stake in Mednax, Inc (MD)
Bank of New York Mellon Corp raised its position in Mednax, Inc (NYSE:MD) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,304,975 shares of the company’s stock after buying an additional 90,002 shares during the period. Bank of New York Mellon Corp owned about 1.41% of Mednax worth $78,782,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in MD. Pacer Advisors Inc. raised its stake in Mednax by 3.2% in the first quarter. Pacer Advisors Inc. now owns 1,795 shares of the company’s stock worth $125,000 after buying an additional 55 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Mednax by 870.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,000 shares of the company’s stock worth $139,000 after buying an additional 1,794 shares in the last quarter. Morgan Dempsey Capital Management LLC raised its stake in Mednax by 3.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,270 shares of the company’s stock worth $157,000 after buying an additional 78 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Mednax by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,428 shares of the company’s stock worth $158,000 after buying an additional 102 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Mednax by 8.7% in the first quarter. Daiwa Securities Group Inc. now owns 2,500 shares of the company’s stock worth $173,000 after buying an additional 200 shares in the last quarter.
Mednax, Inc (NYSE:MD) opened at 44.15 on Tuesday. Mednax, Inc has a one year low of $41.52 and a one year high of $72.13. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 14.06 and a beta of 0.40. The stock has a 50 day moving average of $49.58 and a 200 day moving average of $59.60.
Mednax (NYSE:MD) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.04. Mednax had a net margin of 8.78% and a return on equity of 11.89%. The business had revenue of $843 million during the quarter, compared to analyst estimates of $849.49 million. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts predict that Mednax, Inc will post $3.31 EPS for the current fiscal year.
A number of analysts have commented on the stock. Mizuho reaffirmed a “neutral” rating and set a $48.00 target price (down previously from $62.00) on shares of Mednax in a report on Tuesday, August 1st. Jefferies Group LLC set a $46.00 target price on shares of Mednax and gave the stock a “hold” rating in a report on Sunday, July 30th. Stifel Nicolaus lowered their target price on shares of Mednax from $65.00 to $58.00 and set a “hold” rating for the company in a report on Thursday, May 25th. BidaskClub raised shares of Mednax from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, ValuEngine lowered shares of Mednax from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $63.00.
In other news, insider Joseph M. Calabro sold 23,327 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $55.00, for a total value of $1,282,985.00. Following the sale, the insider now directly owns 296,379 shares of the company’s stock, valued at approximately $16,300,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Md Pascal J. Goldschmidt sold 1,969 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $57.57, for a total transaction of $113,355.33. Following the completion of the sale, the director now directly owns 18,072 shares in the company, valued at $1,040,405.04. The disclosure for this sale can be found here. 2.40% of the stock is currently 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. 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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