Prudential PLC continued to hold its position in Mednax, Inc (NYSE:MD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,300 shares of the company’s stock at the end of the second quarter. Prudential PLC’s holdings in Mednax were worth $320,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MD. Pacer Advisors Inc. grew its stake in shares of Mednax by 8.1% during the second quarter. Pacer Advisors Inc. now owns 1,940 shares of the company’s stock valued at $117,000 after buying an additional 145 shares during the last quarter. Commonwealth Bank of Australia grew its stake in shares of Mednax by 15.3% during the second quarter. Commonwealth Bank of Australia now owns 2,205 shares of the company’s stock valued at $132,000 after buying an additional 293 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Mednax by 20.0% during the second quarter. Daiwa Securities Group Inc. now owns 3,000 shares of the company’s stock valued at $181,000 after buying an additional 500 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Mednax during the second quarter valued at about $217,000. Finally, QS Investors LLC grew its stake in shares of Mednax by 0.3% during the second quarter. QS Investors LLC now owns 3,812 shares of the company’s stock valued at $230,000 after buying an additional 12 shares during the last quarter.
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A number of brokerages have recently issued reports on MD. Stephens raised Mednax from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $68.00 in a research note on Thursday, June 22nd. Mizuho reaffirmed a “neutral” rating and set a $48.00 price objective (down from $62.00) on shares of Mednax in a research note on Tuesday, August 1st. Jefferies Group LLC set a $46.00 price objective on Mednax and gave the company a “hold” rating in a research note on Sunday, July 30th. KeyCorp raised Mednax from a “sector weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a research note on Sunday, September 17th. Finally, BidaskClub cut Mednax from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Mednax presently has an average rating of “Hold” and an average target price of $56.63.
Shares of Mednax, Inc (NYSE:MD) opened at 42.75 on Friday. Mednax, Inc has a 12-month low of $40.78 and a 12-month high of $72.13. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 13.61 and a beta of 0.37. The stock’s 50 day moving average is $43.11 and its 200-day moving average is $53.34.
Mednax (NYSE:MD) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.81 by $0.04. The company had revenue of $843.00 million for the quarter, compared to the consensus estimate of $849.49 million. Mednax had a net margin of 8.78% and a return on equity of 11.89%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. On average, analysts expect that Mednax, Inc will post $3.30 earnings per share for the current year.
In related news, insider John C. Pepia sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $42.85, for a total transaction of $128,550.00. Following the transaction, the insider now directly owns 35,569 shares in the company, valued at approximately $1,524,131.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% 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. As of December 31, 2016, the Company’s national network consisted of over 3,600 affiliated physicians, including over 1,130 physicians providing neonatal clinical care, in 35 states and Puerto Rico, primarily within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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