Westpac Banking Corp lowered its holdings in Mednax, Inc (NYSE:MD) by 12.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,012 shares of the company’s stock after selling 6,687 shares during the quarter. Westpac Banking Corp’s holdings in Mednax were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MD. PNC Financial Services Group Inc. increased its position in Mednax by 0.5% during the first quarter. PNC Financial Services Group Inc. now owns 9,099 shares of the company’s stock valued at $632,000 after acquiring an additional 47 shares during the last quarter. Pacer Advisors Inc. increased its position in Mednax by 3.2% during the first quarter. Pacer Advisors Inc. now owns 1,795 shares of the company’s stock valued at $125,000 after acquiring an additional 55 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its position in Mednax by 3.6% during the first quarter. Morgan Dempsey Capital Management LLC now owns 2,270 shares of the company’s stock valued at $157,000 after acquiring an additional 78 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Mednax by 3.0% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,122 shares of the company’s stock valued at $217,000 after acquiring an additional 92 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in Mednax by 1.6% during the first quarter. LS Investment Advisors LLC now owns 6,041 shares of the company’s stock valued at $419,000 after acquiring an additional 94 shares during the last quarter.

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In related news, Director Md Pascal J. Goldschmidt sold 1,969 shares of Mednax stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $57.57, for a total value of $113,355.33. Following the sale, the director now directly owns 18,072 shares in the company, valued at approximately $1,040,405.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.

Shares of Mednax, Inc (MD) opened at 42.55 on Thursday. Mednax, Inc has a 12-month low of $41.52 and a 12-month high of $72.13. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 13.55 and a beta of 0.40. The firm’s 50-day moving average price is $46.44 and its 200 day moving average price is $58.23.

Mednax (NYSE:MD) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.04. Mednax had a return on equity of 11.89% and a net margin of 8.78%. The firm had revenue of $843 million during the quarter, compared to analyst estimates of $849.49 million. During the same quarter in the previous year, the business earned $1.03 EPS. Mednax’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts predict that Mednax, Inc will post $3.31 earnings per share for the current year.

A number of analysts recently commented on the company. Robert W. Baird reiterated a “hold” rating and set a $47.00 price objective on shares of Mednax in a research report on Sunday. BidaskClub cut Mednax from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Mizuho reiterated a “neutral” rating and set a $48.00 price objective (down previously 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, Stephens upgraded Mednax from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $55.00 to $68.00 in a research report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Mednax currently has an average rating of “Hold” and a consensus price target of $59.88.

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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Institutional Ownership by Quarter for Mednax (NYSE:MD)

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