Mednax, Inc (MD) Announces Earnings Results
Mednax, Inc (NYSE:MD) issued its earnings results on Friday. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04, Bloomberg Earnings reports. Mednax had a net margin of 9.54% and a return on equity of 12.81%. The company had revenue of $843 million for the quarter, compared to the consensus estimate of $849.49 million. During the same period in the previous year, the firm earned $1.03 earnings per share. Mednax’s quarterly revenue was up 9.2% compared to the same quarter last year. Mednax updated its Q3 guidance to $0.83-0.88 EPS.
Mednax (NYSE MD) traded down 15.51% during midday trading on Friday, hitting $47.73. 3,638,964 shares of the stock were exchanged. The firm has a 50 day moving average of $57.87 and a 200-day moving average of $63.24. Mednax has a 12-month low of $46.70 and a 12-month high of $72.13. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 15.20 and a beta of 0.44.
In other Mednax news, CFO Vivian Lopez-Blanco sold 7,778 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $55.82, for a total transaction of $434,167.96. Following the completion of the transaction, the chief financial officer now directly owns 51,319 shares of the company’s stock, valued at $2,864,626.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Manuel Kadre acquired 21,704 shares of Mednax stock in a transaction on Friday, May 5th. The shares were purchased at an average cost of $55.79 per share, with a total value of $1,210,866.16. Following the completion of the acquisition, the director now owns 111,255 shares of the company’s stock, valued at approximately $6,206,916.45. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 33,074 shares of company stock valued at $1,830,508. 2.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Mednax by 5.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $106,000 after buying an additional 77 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Mednax by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 30,620 shares of the company’s stock valued at $2,124,000 after buying an additional 450 shares during the period. Fenimore Asset Management Inc. raised its position in shares of Mednax by 7.3% in the first quarter. Fenimore Asset Management Inc. now owns 858,880 shares of the company’s stock valued at $59,589,000 after buying an additional 58,070 shares during the period. Private Trust Co. NA purchased a new position in shares of Mednax during the first quarter valued at $486,000. Finally, Atria Investments LLC raised its position in shares of Mednax by 8.6% in the first quarter. Atria Investments LLC now owns 3,911 shares of the company’s stock valued at $271,000 after buying an additional 310 shares during the period.
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A number of equities analysts have commented on MD shares. TheStreet downgraded shares of Mednax from a “b-” rating to a “c+” rating in a research note on Tuesday, May 16th. Stifel Nicolaus reduced their target price on shares of Mednax from $65.00 to $58.00 and set a “hold” rating on the stock in a research note on Thursday, May 25th. BidaskClub raised shares of Mednax from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Zacks Investment Research raised shares of Mednax from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $58.00 target price on shares of Mednax in a research note on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.89.
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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