Elliott Management Corp cut its stake in MEDNAX Inc (NYSE:MD) by 16.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,696,183 shares of the company’s stock after selling 344,817 shares during the period. MEDNAX accounts for approximately 0.4% of Elliott Management Corp’s investment portfolio, making the stock its 26th largest holding. Elliott Management Corp’s holdings in MEDNAX were worth $55,974,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in MEDNAX by 1.9% in the fourth quarter. BlackRock Inc. now owns 8,511,392 shares of the company’s stock valued at $280,874,000 after acquiring an additional 159,041 shares during the period. Vanguard Group Inc. lifted its holdings in MEDNAX by 3.9% in the third quarter. Vanguard Group Inc. now owns 8,282,555 shares of the company’s stock valued at $386,464,000 after acquiring an additional 314,415 shares during the period. Vanguard Group Inc lifted its holdings in MEDNAX by 3.9% in the third quarter. Vanguard Group Inc now owns 8,282,555 shares of the company’s stock valued at $386,464,000 after acquiring an additional 314,415 shares during the period. Pzena Investment Management LLC lifted its holdings in MEDNAX by 2.8% in the fourth quarter. Pzena Investment Management LLC now owns 3,345,635 shares of the company’s stock valued at $110,406,000 after acquiring an additional 91,513 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of MEDNAX by 17.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,615,192 shares of the company’s stock worth $86,301,000 after buying an additional 381,394 shares during the period. 94.91% of the stock is owned by institutional investors.
Shares of MD opened at $28.93 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.31 and a quick ratio of 1.31. MEDNAX Inc has a one year low of $28.88 and a one year high of $56.46. The company has a market cap of $2.54 billion, a P/E ratio of 8.24, a PEG ratio of 1.01 and a beta of 0.61.
Several brokerages have recently weighed in on MD. Credit Suisse Group reduced their target price on MEDNAX from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 13th. Citigroup raised MEDNAX from a “neutral” rating to a “buy” rating and set a $34.88 target price for the company in a research note on Monday, January 14th. They noted that the move was a valuation call. Deutsche Bank initiated coverage on MEDNAX in a research report on Thursday, January 3rd. They set a “hold” rating and a $34.00 price target for the company. Mizuho set a $36.00 price target on MEDNAX and gave the stock a “hold” rating in a research report on Friday, February 8th. Finally, Zacks Investment Research upgraded MEDNAX from a “sell” rating to a “hold” rating in a research report on Monday, January 21st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. MEDNAX currently has a consensus rating of “Hold” and an average price target of $41.39.
In other MEDNAX news, COO David A. Clark sold 6,452 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $32.90, for a total value of $212,270.80. Following the completion of the sale, the chief operating officer now directly owns 136,964 shares in the company, valued at approximately $4,506,115.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John C. Pepia sold 2,500 shares of the company’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $36.60, for a total value of $91,500.00. Following the completion of the sale, the insider now owns 28,583 shares of the company’s stock, valued at $1,046,137.80. The disclosure for this sale can be found here. Insiders have sold 30,279 shares of company stock valued at $988,954 over the last quarter. 2.70% of the stock is owned by company insiders.
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MEDNAX, Inc, together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology and teleradiology, pediatric cardiology, and other pediatric subspecialty 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 services; and acute and chronic pain management services.
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