Teacher Retirement System of Texas raised its stake in shares of Mednax Inc. (NYSE:MD) by 31.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,712 shares of the company’s stock after buying an additional 1,591 shares during the period. Teacher Retirement System of Texas’ holdings in Mednax were worth $486,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of MD. 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 period. State Street Corp increased its stake 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 valued at $204,837,000 after buying an additional 116,369 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Mednax by 317.0% in the second quarter. Nordea Investment Management AB now owns 2,817,940 shares of the company’s stock valued at $204,103,000 after buying an additional 2,142,237 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Mednax by 17.5% in the first quarter. 1832 Asset Management L.P. now owns 2,807,200 shares of the company’s stock valued at $308,383,000 after buying an additional 418,327 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Mednax by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,799,878 shares of the company’s stock valued at $180,928,000 after buying an additional 35,101 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.
Shares of Mednax Inc. (NYSE:MD) traded down 0.45% during trading on Thursday, hitting $66.62. 74,971 shares of the stock traded hands. The company has a market cap of $6.14 billion, a P/E ratio of 18.59 and a beta of 0.54. The stock has a 50-day moving average of $65.44 and a 200 day moving average of $68.30. Mednax Inc. has a 1-year low of $61.40 and a 1-year high of $83.20.
Mednax (NYSE:MD) last announced its earnings results on Thursday, July 28th. The company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by $0.04. Mednax had a net margin of 11.17% and a return on equity of 14.88%. The firm earned $772 million during the quarter, compared to analysts’ expectations of $775.68 million. During the same quarter in the prior year, the company earned $0.90 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts predict that Mednax Inc. will post $4.14 EPS for the current fiscal year.
Several brokerages recently commented on MD. Citigroup Inc. reduced their target price on shares of Mednax from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Wednesday, August 17th. Zacks Investment Research raised shares of Mednax from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Wednesday, June 29th. JPMorgan Chase & Co. reduced their target price on shares of Mednax from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, July 29th. Jefferies Group reduced their target price on shares of Mednax from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 26th. Finally, Mizuho reaffirmed a “buy” rating and set a $79.00 target price on shares of Mednax in a report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $76.11.
In other news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $65.01, for a total value of $97,515.00. Following the completion of the transaction, the director now directly owns 12,755 shares in the company, valued at $829,202.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by insiders.
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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