JPMorgan Chase & Co. lowered its position in Mednax Inc. (NYSE:MD) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 99,027 shares of the company’s stock after selling 145 shares during the period. JPMorgan Chase & Co. owned 0.11% of Mednax worth $7,172,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in shares of Mednax by 30.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,406 shares of the company’s stock worth $102,000 after buying an additional 325 shares during the last quarter. First Quadrant L P CA purchased a new position in shares of Mednax during the second quarter worth approximately $130,000. Morgan Dempsey Capital Management LLC boosted its position in shares of Mednax by 147.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 2,192 shares of the company’s stock worth $159,000 after buying an additional 1,307 shares during the last quarter. FineMark National Bank & Trust boosted its position in shares of Mednax by 46.6% in the second quarter. FineMark National Bank & Trust now owns 2,260 shares of the company’s stock worth $164,000 after buying an additional 718 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Mednax during the second quarter worth approximately $220,000. Institutional investors own 97.75% of the company’s stock.
Mednax Inc. (NYSE:MD) traded down 1.17% on Friday, hitting $66.12. The stock had a trading volume of 692,755 shares. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 18.45 and a beta of 0.54. Mednax Inc. has a one year low of $61.40 and a one year high of $83.20. The company’s 50-day moving average price is $65.56 and its 200 day moving average price is $68.30.
Mednax (NYSE:MD) last announced its quarterly 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. The firm had revenue of $772 million for the quarter, compared to analysts’ expectations of $775.68 million. Mednax had a return on equity of 14.88% and a net margin of 11.17%. Mednax’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Analysts expect that Mednax Inc. will post $4.14 earnings per share for the current year.
MD has been the subject of several recent research reports. Zacks Investment Research raised Mednax from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Wednesday, June 29th. Mizuho reaffirmed a “buy” rating and issued a $79.00 price target on shares of Mednax in a report on Tuesday, September 20th. Jefferies Group cut their price target on Mednax from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 26th. Citigroup Inc. cut their price target on Mednax from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Wednesday, August 17th. Finally, JPMorgan Chase & Co. cut their price target on Mednax from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $76.11.
In related news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the company’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 sale, the director now owns 12,755 shares of the company’s stock, valued at approximately $829,202.55. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is owned by corporate 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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