Mednax, Inc (MD) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. increased its holdings in shares of Mednax, Inc (NYSE:MD) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 398,057 shares of the company’s stock after acquiring an additional 2,665 shares during the period. Principal Financial Group Inc. owned about 0.43% of Mednax worth $17,164,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. QS Investors LLC grew its position in Mednax by 0.3% during the 2nd quarter. QS Investors LLC now owns 3,812 shares of the company’s stock worth $230,000 after acquiring an additional 12 shares during the last quarter. Pacer Advisors Inc. grew its position in Mednax by 8.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,940 shares of the company’s stock worth $117,000 after acquiring an additional 145 shares during the last quarter. Arizona State Retirement System grew its position in Mednax by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 39,200 shares of the company’s stock worth $2,367,000 after acquiring an additional 200 shares during the last quarter. State Treasurer State of Michigan grew its position in Mednax by 0.5% during the 2nd quarter. State Treasurer State of Michigan now owns 38,300 shares of the company’s stock worth $2,312,000 after acquiring an additional 200 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in Mednax by 6.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,393 shares of the company’s stock worth $265,000 after acquiring an additional 257 shares during the last quarter. Institutional investors and hedge funds own 96.44% of the company’s stock.
A number of research firms recently commented on MD. Mizuho restated a “neutral” rating and set a $48.00 price target (down from $62.00) on shares of Mednax in a research report on Tuesday, August 1st. Jefferies Group LLC restated a “hold” rating and set a $46.00 price target on shares of Mednax in a research report on Tuesday, October 3rd. Citigroup Inc. reduced their price objective on Mednax from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Robert W. Baird upped their price objective on Mednax from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research raised Mednax from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $54.50.
In related news, insider John C. Pepia sold 3,000 shares of the firm’s 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 of the company’s stock, valued at approximately $1,524,131.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cesar L. Alvarez sold 10,668 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 44,215 shares in the company, valued at approximately $1,883,116.85. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Mednax, Inc (NYSE MD) traded down $0.39 during mid-day trading on Monday, hitting $49.10. The stock had a trading volume of 445,100 shares, compared to its average volume of 1,054,727. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $4,600.00, a P/E ratio of 15.02, a P/E/G ratio of 1.58 and a beta of 0.32. Mednax, Inc has a one year low of $40.56 and a one year high of $72.13.
Mednax (NYSE:MD) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.87 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.87. The company had revenue of $868.95 million for the quarter, compared to the consensus estimate of $864.78 million. Mednax had a return on equity of 10.80% and a net margin of 7.76%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. analysts predict that Mednax, Inc will post 3.1 EPS for the current year.
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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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