Mednax, Inc (MD) Given a $51.00 Price Target by KeyCorp Analysts
Mednax, Inc (NYSE:MD) received a $51.00 price target from equities researchers at KeyCorp in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the stock. KeyCorp’s price target points to a potential upside of 22.48% from the company’s current price.
MD has been the topic of several other reports. Mizuho reaffirmed a “neutral” rating and set a $48.00 price objective (down from $62.00) on shares of Mednax in a report on Tuesday, August 1st. Jefferies Group LLC set a $46.00 price objective on Mednax and gave the stock a “hold” rating in a report on Sunday, July 30th. BidaskClub cut Mednax from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Robert W. Baird reaffirmed a “hold” rating and set a $47.00 price objective on shares of Mednax in a report on Sunday, September 3rd. Finally, Zacks Investment Research raised 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 assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $55.22.
Mednax (NYSE:MD) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.87 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.87. The business had revenue of $868.95 million for the quarter, compared to analysts’ expectations of $864.78 million. Mednax had a return on equity of 10.80% and a net margin of 7.76%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS.
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In related news, insider John C. Pepia sold 3,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $42.85, for a total transaction of $128,550.00. Following the sale, the insider now owns 35,569 shares in the company, valued at approximately $1,524,131.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in MD. OppenheimerFunds Inc. increased its stake in Mednax by 14.5% in the first quarter. OppenheimerFunds Inc. now owns 11,379 shares of the company’s stock worth $789,000 after purchasing an additional 1,439 shares during the period. PNC Financial Services Group Inc. increased its stake in Mednax by 0.5% in the first quarter. PNC Financial Services Group Inc. now owns 9,099 shares of the company’s stock worth $632,000 after purchasing an additional 47 shares during the period. Thrivent Financial For Lutherans increased its stake in Mednax by 12.5% in the first quarter. Thrivent Financial For Lutherans now owns 17,760 shares of the company’s stock worth $1,232,000 after purchasing an additional 1,980 shares during the period. Morgan Stanley increased its stake in Mednax by 78.3% in the first quarter. Morgan Stanley now owns 361,509 shares of the company’s stock worth $25,082,000 after purchasing an additional 158,720 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Mednax by 7.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 279,799 shares of the company’s stock worth $19,413,000 after purchasing an additional 19,592 shares during the period. Institutional investors own 99.97% of the company’s stock.
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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