Mednax, Inc (MD) Rating Increased to Hold at Zacks Investment Research
Mednax, Inc (NYSE:MD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
A number of other brokerages have also recently commented on MD. Jefferies Group LLC reissued a “hold” rating and issued a $53.00 price target (up from $50.00) on shares of Mednax in a research report on Thursday, July 6th. BidaskClub raised Mednax from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Stephens raised Mednax from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $55.00 to $68.00 in a research report on Thursday, June 22nd. Mizuho reissued a “neutral” rating and issued a $48.00 price target (down from $62.00) on shares of Mednax in a research report on Tuesday, August 1st. Finally, Robert W. Baird reissued a “hold” rating and issued a $47.00 price target on shares of Mednax in a research report on Sunday, September 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.63.
Mednax (NYSE:MD) opened at 43.03 on Wednesday. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 13.70 and a beta of 0.37. The firm has a 50-day moving average price of $43.11 and a 200 day moving average price of $53.49. Mednax has a one year low of $40.78 and a one year high of $72.13.
Mednax (NYSE:MD) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates 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 $843.00 million for the quarter, compared to analysts’ expectations of $849.49 million. During the same period in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities analysts expect that Mednax will post $3.31 earnings per share for the current fiscal year.
In related news, insider John C. Pepia sold 3,000 shares of the company’s stock in a transaction that occurred 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 directly owns 35,569 shares of the company’s stock, valued at approximately $1,524,131.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC bought a new position in Mednax in the 2nd quarter valued at approximately $14,346,000. Tandem Investment Advisors Inc. lifted its position in Mednax by 10.5% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 21,755 shares of the company’s stock valued at $1,313,000 after acquiring an additional 2,065 shares in the last quarter. Verition Fund Management LLC bought a new position in Mednax in the 2nd quarter valued at approximately $516,000. Grandeur Peak Global Advisors LLC lifted its position in Mednax by 6.5% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 200,125 shares of the company’s stock valued at $12,082,000 after acquiring an additional 12,300 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in Mednax by 2.4% in the 2nd quarter. Sterling Capital Management LLC now owns 1,048,652 shares of the company’s stock valued at $63,307,000 after acquiring an additional 24,228 shares in the last quarter.
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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