MEDNAX Inc (NYSE:MD) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised MEDNAX from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $69.00 target price on shares of MEDNAX in a research report on Friday, March 10th. Jefferies Group LLC reissued a “hold” rating and set a $63.00 target price on shares of MEDNAX in a research report on Wednesday, February 8th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc assumed coverage on MEDNAX in a research report on Friday, December 9th. They set a “neutral” rating and a $66.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $68.50.
Shares of MEDNAX (NYSE:MD) opened at 70.10 on Tuesday. MEDNAX has a 52-week low of $59.36 and a 52-week high of $76.96. The firm has a market capitalization of $6.50 billion, a PE ratio of 20.09 and a beta of 0.67. The company has a 50-day moving average price of $69.55 and a 200 day moving average price of $66.86.
MEDNAX (NYSE:MD) last released its earnings results on Tuesday, February 7th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by $0.06. MEDNAX had a return on equity of 13.59% and a net margin of 10.21%. The firm had revenue of $831 million for the quarter, compared to analyst estimates of $842.15 million. During the same period last year, the business earned $1.13 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Analysts expect that MEDNAX will post $4.25 EPS for the current fiscal year.
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In other MEDNAX news, Director Md Pascal J. Goldschmidt sold 25,294 shares of MEDNAX stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $67.82, for a total transaction of $1,715,439.08. Following the sale, the director now directly owns 14,173 shares of the company’s stock, valued at $961,212.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dominic J. Andreano sold 6,000 shares of MEDNAX stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $69.59, for a total value of $417,540.00. Following the sale, the senior vice president now directly owns 30,746 shares in the company, valued at $2,139,614.14. The disclosure for this sale can be found here. Insiders have sold 96,296 shares of company stock worth $6,668,891 over the last ninety days. Company insiders own 2.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in MEDNAX by 6.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 8,034,055 shares of the company’s stock worth $532,256,000 after buying an additional 508,260 shares during the last quarter. BlackRock Fund Advisors increased its stake in MEDNAX by 2.4% in the third quarter. BlackRock Fund Advisors now owns 3,664,544 shares of the company’s stock worth $242,776,000 after buying an additional 86,578 shares during the last quarter. Nordea Investment Management AB increased its stake in MEDNAX by 2.1% in the third quarter. Nordea Investment Management AB now owns 2,878,350 shares of the company’s stock worth $190,691,000 after buying an additional 60,410 shares during the last quarter. 1832 Asset Management L.P. increased its stake in MEDNAX by 2.0% in the third quarter. 1832 Asset Management L.P. now owns 2,394,095 shares of the company’s stock worth $158,417,000 after buying an additional 46,296 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in MEDNAX by 17,600.5% in the third quarter. Victory Capital Management Inc. now owns 1,443,301 shares of the company’s stock worth $95,619,000 after buying an additional 1,435,147 shares during the last quarter. 99.16% of the stock is currently owned by institutional investors.
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 is composed of affiliated physicians, including those providing neonatal clinical care, primarily within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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