MEDNAX (NYSE:MD) Sets New 1-Year Low After Analyst Downgrade

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MEDNAX Inc (NYSE:MD)’s stock price reached a new 52-week low during mid-day trading on Wednesday after Credit Suisse Group lowered their price target on the stock from $30.00 to $28.00. Credit Suisse Group currently has an outperform rating on the stock. MEDNAX traded as low as $20.36 and last traded at $20.66, with a volume of 1030 shares traded. The stock had previously closed at $20.61.

Several other analysts have also weighed in on the stock. UBS Group decreased their target price on shares of MEDNAX to $20.00 and set a “sell” rating on the stock in a research report on Wednesday, July 24th. BMO Capital Markets decreased their target price on shares of MEDNAX from $32.00 to $25.00 and set a “market perform” rating on the stock in a research report on Monday, August 5th. Mizuho decreased their target price on shares of MEDNAX from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Citigroup set a $36.00 target price on shares of MEDNAX and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Zacks Investment Research lowered shares of MEDNAX from a “hold” rating to a “sell” rating and set a $26.00 target price on the stock. in a research report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $31.40.

In other news, Director Michael Fernandez purchased 122,409 shares of MEDNAX stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $21.35 per share, for a total transaction of $2,613,432.15. Following the completion of the transaction, the director now directly owns 350,288 shares in the company, valued at $7,478,648.80. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Prudential PLC boosted its holdings in MEDNAX by 15.6% during the second quarter. Prudential PLC now owns 553,200 shares of the company’s stock worth $13,957,000 after purchasing an additional 74,700 shares during the last quarter. Summit Global Investments boosted its holdings in MEDNAX by 7.7% during the second quarter. Summit Global Investments now owns 26,700 shares of the company’s stock worth $674,000 after purchasing an additional 1,900 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in MEDNAX during the second quarter worth $4,874,000. UBS Asset Management Americas Inc. boosted its holdings in MEDNAX by 1.9% during the second quarter. UBS Asset Management Americas Inc. now owns 124,281 shares of the company’s stock worth $3,136,000 after purchasing an additional 2,271 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in MEDNAX during the second quarter worth $282,000. Institutional investors own 91.93% of the company’s stock.

The company’s fifty day moving average is $22.75 and its 200 day moving average is $27.11. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 0.84 and a beta of 0.67. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.79.

MEDNAX (NYSE:MD) last announced its earnings results on Thursday, August 1st. The company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.11. MEDNAX had a negative net margin of 3.53% and a positive return on equity of 9.34%. The business had revenue of $868.31 million during the quarter, compared to analysts’ expectations of $868.71 million. During the same quarter in the prior year, the company posted $1.07 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. On average, equities research analysts forecast that MEDNAX Inc will post 3.04 EPS for the current fiscal year.

MEDNAX Company Profile (NYSE:MD)

MEDNAX, Inc, together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology and teleradiology, pediatric cardiology, and other pediatric subspecialty physician services in the United States and Puerto Rico. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians; anesthesia and anesthesia subspecialty care services; and acute and chronic pain management services.

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