Several other equities analysts have also commented on the company. Citigroup Inc. reduced their price target on Mednax from $76.00 to $72.00 and set a neutral rating on the stock in a research report on Wednesday, August 17th. JPMorgan Chase & Co. reduced their price target on Mednax from $85.00 to $80.00 and set an overweight rating on the stock in a research report on Friday, July 29th. Zacks Investment Research lowered Mednax from a buy rating to a hold rating in a research report on Saturday, July 30th. Finally, Jefferies Group reduced their price target on Mednax from $80.00 to $75.00 and set a buy rating on the stock in a research report on Friday, August 26th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Mednax presently has a consensus rating of Buy and an average price target of $76.11.
Mednax (NYSE:MD) opened at 64.94 on Tuesday. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 18.12 and a beta of 0.56. Mednax has a 12 month low of $61.40 and a 12 month high of $83.20. The stock’s 50 day moving average is $65.43 and its 200-day moving average is $68.14.
Mednax (NYSE:MD) last issued its earnings results on Thursday, July 28th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.07 by $0.04. Mednax had a return on equity of 14.88% and a net margin of 11.17%. The firm had revenue of $772 million for the quarter, compared to analysts’ expectations of $775.68 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities research analysts expect that Mednax will post $4.14 earnings per share for the current year.
In other news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $65.01, for a total value of $97,515.00. Following the completion of the sale, the director now directly owns 12,755 shares in the company, valued at approximately $829,202.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Mednax by 0.6% in the second quarter. Vanguard Group Inc. now owns 6,873,895 shares of the company’s stock worth $497,877,000 after buying an additional 38,874 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Mednax by 5.9% in the second quarter. William Blair Investment Management LLC now owns 5,061,763 shares of the company’s stock worth $366,623,000 after buying an additional 283,674 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Mednax by 3.6% in the second quarter. BlackRock Fund Advisors now owns 3,577,966 shares of the company’s stock worth $259,152,000 after buying an additional 122,749 shares during the last quarter. State Street Corp increased its position in shares of Mednax by 3.8% in the first quarter. State Street Corp now owns 3,169,899 shares of the company’s stock worth $204,837,000 after buying an additional 116,369 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Mednax by 2.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,868,546 shares of the company’s stock worth $207,769,000 after buying an additional 68,668 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.
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 consists of approximately 3,240 affiliated physicians, including approximately 1,100 physicians who provide neonatal clinical care, in over 30 states and Puerto Rico, within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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