MEDNAX (MD) Downgraded to Hold at Zacks Investment Research

MEDNAX (NYSE:MD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

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A number of other equities research analysts also recently commented on MD. Piper Jaffray Companies started coverage on MEDNAX in a research report on Wednesday, December 13th. They issued an “overweight” rating and a $58.00 target price on the stock. SunTrust Banks set a $55.00 target price on MEDNAX and gave the company a “hold” rating in a research report on Thursday, December 21st. Stifel Nicolaus restated a “hold” rating and issued a $56.00 target price on shares of MEDNAX in a research report on Wednesday, January 24th. Mizuho set a $49.00 target price on MEDNAX and gave the company a “hold” rating in a research report on Wednesday, January 24th. Finally, Jefferies Group set a $50.00 target price on MEDNAX and gave the company a “hold” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.58.

MD stock opened at $55.05 on Wednesday. The firm has a market capitalization of $5,288.19, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.40 and a beta of 0.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.18 and a current ratio of 1.18. MEDNAX has a 12 month low of $40.56 and a 12 month high of $69.89.

MEDNAX (NYSE:MD) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.04. MEDNAX had a return on equity of 10.10% and a net margin of 9.26%. The company had revenue of $910.82 million for the quarter, compared to analyst estimates of $884.55 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. equities analysts forecast that MEDNAX will post 4.03 EPS for the current fiscal year.

In related news, insider John C. Pepia sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $58.35, for a total value of $175,050.00. Following the sale, the insider now owns 39,716 shares in the company, valued at approximately $2,317,428.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of MD. HealthCor Management L.P. purchased a new stake in shares of MEDNAX in the 4th quarter valued at $67,421,000. Pzena Investment Management LLC purchased a new stake in shares of MEDNAX in the 4th quarter valued at $51,411,000. Earnest Partners LLC raised its holdings in shares of MEDNAX by 48.1% in the 4th quarter. Earnest Partners LLC now owns 2,212,691 shares of the company’s stock valued at $118,246,000 after buying an additional 718,317 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of MEDNAX by 987.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 756,215 shares of the company’s stock valued at $32,607,000 after buying an additional 686,678 shares during the period. Finally, Elkfork Partners LLC purchased a new stake in shares of MEDNAX in the 4th quarter valued at $35,423,000. Hedge funds and other institutional investors own 98.53% of the company’s stock.

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About MEDNAX

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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