Mednax (MD) Receives New Coverage from Analysts at Piper Jaffray Companies

Piper Jaffray Companies assumed coverage on shares of Mednax (NYSE:MD) in a report issued on Wednesday. The firm issued an overweight rating and a $58.00 target price on the stock.

Several other brokerages have also recently commented on MD. Jefferies Group reiterated a hold rating and set a $46.00 price target on shares of Mednax in a research report on Tuesday, October 3rd. Robert W. Baird restated a hold rating and issued a $47.00 target price on shares of Mednax in a report on Sunday, September 3rd. KeyCorp set a $51.00 target price on Mednax and gave the company a buy rating in a report on Wednesday, November 1st. Citigroup dropped their target price on Mednax from $52.00 to $47.00 and set a neutral rating for the company in a report on Friday, November 3rd. Finally, Zacks Investment Research upgraded Mednax from a sell rating to a hold rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Mednax currently has a consensus rating of Hold and a consensus price target of $53.70.

Shares of Mednax (NYSE:MD) traded down $0.10 on Wednesday, hitting $51.58. The company had a trading volume of 1,146,300 shares, compared to its average volume of 1,093,425. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 1.37. Mednax has a 52-week low of $40.56 and a 52-week high of $72.13. The stock has a market capitalization of $4,840.10, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.67 and a beta of 0.40.

Mednax (NYSE:MD) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.87 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.87. Mednax had a return on equity of 10.80% and a net margin of 7.76%. The firm had revenue of $868.95 million during the quarter, compared to analysts’ expectations of $864.78 million. During the same period in the previous year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts predict that Mednax will post 3.1 EPS for the current year.

In related news, insider John C. Pepia sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $51.58, for a total transaction of $154,740.00. Following the transaction, the insider now owns 35,569 shares in the company, valued at approximately $1,834,649.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cesar L. Alvarez sold 10,668 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $42.59, for a total value of $454,350.12. Following the transaction, the director now owns 44,215 shares in the company, valued at approximately $1,883,116.85. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in MD. Daiwa Securities Group Inc. grew its stake in Mednax by 20.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,000 shares of the company’s stock worth $181,000 after buying an additional 500 shares during the last quarter. Sei Investments Co. grew its stake in shares of Mednax by 3.1% in the 2nd quarter. Sei Investments Co. now owns 103,108 shares of the company’s stock valued at $6,224,000 after purchasing an additional 3,139 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Mednax by 5.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 295,514 shares of the company’s stock valued at $17,841,000 after purchasing an additional 15,715 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Mednax by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 39,200 shares of the company’s stock valued at $2,367,000 after purchasing an additional 200 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Mednax by 3.0% in the 2nd quarter. First Trust Advisors LP now owns 278,941 shares of the company’s stock valued at $16,840,000 after purchasing an additional 8,226 shares during the last quarter. Hedge funds and other institutional investors own 98.48% of the company’s stock.

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Mednax Company Profile

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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