Mednax, Inc (MD) Releases Earnings Results, Hits Expectations
Mednax, Inc (NYSE:MD) released its earnings results on Wednesday. The company reported $0.87 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.87, Bloomberg Earnings reports. Mednax had a net margin of 7.76% and a return on equity of 10.80%. The business had revenue of $868.95 million during the quarter, compared to analyst estimates of $864.78 million. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Mednax updated its Q4 guidance to $0.80-0.85 EPS.
Shares of Mednax (MD) traded up $2.02 during mid-day trading on Friday, hitting $43.37. 2,080,514 shares of the stock traded hands, compared to its average volume of 1,302,315. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 12.73 and a beta of 0.32.
In other Mednax news, Director Cesar L. Alvarez sold 10,668 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were 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 of the company’s stock, valued at $1,883,116.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John C. Pepia sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $42.85, for a total transaction of $128,550.00. Following the completion of the transaction, the insider now directly owns 35,569 shares in the company, valued at approximately $1,524,131.65. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $53.00 target price (up previously from $50.00) on shares of Mednax in a report on Thursday, July 6th. BidaskClub lowered shares of Mednax from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Mizuho reaffirmed a “neutral” rating and set a $48.00 target price (down previously from $62.00) on shares of Mednax in a report on Tuesday, August 1st. Robert W. Baird reaffirmed a “hold” rating and set a $47.00 target price on shares of Mednax in a report on Sunday, September 3rd. Finally, KeyCorp set a $51.00 target price on shares of Mednax and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Mednax has an average rating of “Hold” and a consensus target price of $55.33.
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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