Mednax, Inc (NYSE:MD) has been assigned a $51.00 price target by research analysts at KeyCorp in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 16.46% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Mednax from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Jefferies Group LLC reiterated a “hold” rating and set a $46.00 price objective on shares of Mednax in a report on Tuesday, October 3rd. Robert W. Baird reiterated a “hold” rating and set a $47.00 price objective on shares of Mednax in a report on Sunday, September 3rd. BMO Capital Markets initiated coverage on Mednax in a report on Monday, October 16th. They set a “market perform” rating and a $46.00 price objective on the stock. Finally, Mizuho reiterated a “neutral” rating and set a $48.00 price objective (down previously from $62.00) on shares of Mednax in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $55.44.
Shares of Mednax (MD) traded down 3.93% during trading on Wednesday, hitting $42.07. The stock had a trading volume of 2,164,768 shares. The firm has a 50 day moving average of $43.19 and a 200 day moving average of $50.86. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 13.40 and a beta of 0.37. Mednax has a 1-year low of $40.78 and a 1-year high of $72.13.
Mednax (NYSE:MD) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.87 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.87. Mednax had a return on equity of 11.89% and a net margin of 8.78%. The business had revenue of $868.95 million for the quarter, compared to analysts’ expectations of $864.78 million. During the same quarter in the previous year, the business posted $1.09 EPS. Mednax’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that Mednax will post $3.30 EPS for the current fiscal year.
In related news, insider John C. Pepia sold 3,000 shares of Mednax stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $42.85, for a total value of $128,550.00. Following the sale, the insider now owns 35,569 shares of the company’s stock, valued at approximately $1,524,131.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in MD. OppenheimerFunds Inc. raised its position in Mednax by 14.5% in the 1st quarter. OppenheimerFunds Inc. now owns 11,379 shares of the company’s stock valued at $789,000 after buying an additional 1,439 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Mednax by 0.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,099 shares of the company’s stock valued at $632,000 after buying an additional 47 shares during the last quarter. Thrivent Financial For Lutherans raised its position in Mednax by 12.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 17,760 shares of the company’s stock valued at $1,232,000 after buying an additional 1,980 shares during the last quarter. Morgan Stanley raised its position in Mednax by 78.3% in the 1st quarter. Morgan Stanley now owns 361,509 shares of the company’s stock valued at $25,082,000 after buying an additional 158,720 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Mednax by 7.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 279,799 shares of the company’s stock valued at $19,413,000 after buying an additional 19,592 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.
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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