Brokerages Expect MEDNAX, Inc. (NYSE:MD) Will Announce Quarterly Sales of $436.56 Million


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Equities analysts expect MEDNAX, Inc. (NYSE:MD) to post $436.56 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for MEDNAX’s earnings. The lowest sales estimate is $420.79 million and the highest is $463.30 million. MEDNAX reported sales of $845.92 million in the same quarter last year, which indicates a negative year-over-year growth rate of 48.4%. The company is expected to announce its next quarterly earnings report before the market opens on Friday, May 7th.

On average, analysts expect that MEDNAX will report full-year sales of $1.80 billion for the current financial year, with estimates ranging from $1.73 billion to $1.88 billion. For the next year, analysts forecast that the company will post sales of $1.87 billion, with estimates ranging from $1.81 billion to $1.94 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for MEDNAX.

MEDNAX (NYSE:MD) last posted its earnings results on Thursday, February 18th. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). The company had revenue of $416.63 million during the quarter, compared to analyst estimates of $456.01 million. MEDNAX had a negative net margin of 26.57% and a positive return on equity of 12.27%.

MD has been the subject of several analyst reports. Truist increased their price target on shares of MEDNAX from $22.00 to $28.00 in a report on Wednesday, April 14th. Credit Suisse Group cut their target price on shares of MEDNAX from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, February 25th. Zacks Investment Research lowered shares of MEDNAX from a “hold” rating to a “strong sell” rating and set a $21.00 price target for the company. in a report on Tuesday, April 20th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MEDNAX from $14.00 to $17.50 and gave the stock a “sell” rating in a report on Friday, February 19th. Finally, Citigroup decreased their price objective on shares of MEDNAX from $24.00 to $22.00 in a report on Friday, February 19th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $19.65.

In related news, Director Roger Md Medel sold 100,000 shares of the company’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $25.40, for a total transaction of $2,540,000.00. Following the completion of the transaction, the director now directly owns 1,318,439 shares in the company, valued at approximately $33,488,350.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in MEDNAX by 44.2% in the 4th quarter. BlackRock Inc. now owns 12,671,867 shares of the company’s stock valued at $310,968,000 after buying an additional 3,884,888 shares during the period. Alliancebernstein L.P. increased its holdings in MEDNAX by 1,340.0% in the 4th quarter. Alliancebernstein L.P. now owns 4,711,026 shares of the company’s stock valued at $115,609,000 after buying an additional 4,383,879 shares during the period. Lazard Asset Management LLC increased its holdings in MEDNAX by 51.5% in the 4th quarter. Lazard Asset Management LLC now owns 3,489,068 shares of the company’s stock valued at $85,621,000 after buying an additional 1,185,912 shares during the period. New York State Common Retirement Fund increased its holdings in MEDNAX by 631.3% in the 4th quarter. New York State Common Retirement Fund now owns 1,586,791 shares of the company’s stock valued at $38,940,000 after buying an additional 1,369,798 shares during the period. Finally, Norges Bank bought a new stake in MEDNAX in the 4th quarter valued at $23,681,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:MD traded down $0.29 on Thursday, reaching $26.18. The company’s stock had a trading volume of 770,394 shares, compared to its average volume of 941,073. The stock’s 50-day moving average is $26.34 and its two-hundred day moving average is $23.25. MEDNAX has a 52-week low of $11.62 and a 52-week high of $29.25. The company has a debt-to-equity ratio of 2.16, a current ratio of 3.38 and a quick ratio of 3.38. The stock has a market capitalization of $2.26 billion, a P/E ratio of -3.02, a PEG ratio of 1.70 and a beta of 2.09.

About MEDNAX

MEDNAX, Inc, together with its subsidiaries, provides newborn, maternal-fetal, pediatric cardiology, and other pediatric subspecialty care 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.

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