MEDNAX Inc (MD) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of MEDNAX Inc (NYSE:MD) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Mednax, Inc., formerly Pediatrix Medical Group, Inc. is a healthcare services company that focuses on physician services for newborn, maternal-fetal, pediatric subspecialty and anesthesia care. The company ,through its subsidiaries, provides these services in the United States and Puerto Rico. In addition, MEDNAX engages in clinical research, monitoring clinical outcomes, and implementing clinical initiatives. “

A number of other equities research analysts have also issued reports on MD. Jefferies Group LLC reissued a hold rating and issued a $63.00 price objective on shares of MEDNAX in a report on Wednesday, February 8th. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued a neutral rating and issued a $69.00 price objective on shares of MEDNAX in a report on Friday, March 10th. Finally, Goldman Sachs Group Inc began coverage on shares of MEDNAX in a report on Friday, December 9th. They issued a neutral rating and a $66.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. MEDNAX currently has a consensus rating of Hold and an average target price of $68.50.

MEDNAX (NYSE:MD) opened at 70.10 on Wednesday. MEDNAX has a 52-week low of $59.36 and a 52-week high of $76.96. The stock has a market cap of $6.50 billion, a P/E ratio of 20.09 and a beta of 0.67. The firm’s 50-day moving average is $69.55 and its 200-day moving average is $66.86.

MEDNAX (NYSE:MD) last announced its quarterly earnings data on Tuesday, February 7th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.06. MEDNAX had a net margin of 10.21% and a return on equity of 13.59%. The firm earned $831 million during the quarter, compared to analysts’ expectations of $842.15 million. During the same period in the prior year, the company posted $1.13 EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts predict that MEDNAX will post $4.25 earnings per share for the current year.

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In other MEDNAX news, CFO Vivian Lopez-Blanco sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $70.95, for a total value of $709,500.00. Following the transaction, the chief financial officer now owns 74,261 shares of the company’s stock, valued at $5,268,817.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Sosa sold 10,668 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $69.65, for a total transaction of $743,026.20. Following the completion of the transaction, the director now directly owns 21,923 shares in the company, valued at approximately $1,526,936.95. The disclosure for this sale can be found here. Insiders sold 96,296 shares of company stock worth $6,668,891 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MD. Victory Capital Management Inc. boosted its position 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. Norges Bank bought a new position in MEDNAX during the fourth quarter worth approximately $56,794,000. Flinton Capital Management LLC bought a new position in MEDNAX during the fourth quarter worth approximately $56,031,000. Tyers Asset Management LLC bought a new position in MEDNAX during the fourth quarter worth approximately $46,143,000. Finally, Consonance Capital Management LP bought a new position in MEDNAX during the third quarter worth approximately $43,725,000. 99.16% of the stock is currently owned by institutional investors.

About MEDNAX

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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